Two Stocks to Keep an Eye On

In today's horrid stock market, there is RED everywhere! It's a very scary scene for people who were relying on their stocks to get themselves a new house or send their kids to college. Chances are, many of these people are still holding on to their stocks (that probably all went down at least 50%), but if you're not stuck with any failing stocks and are looking to buy, then here are two stocks you will want to be watching.

Bank of America (BAC)

To say this stock is going the wrong direction, would be a severe understatement. On February 19^th, the stock ended the day at a dismal $3.93, which is pretty painful for a stock that was once around $45 over a year ago. This stock is not a BUY and it is not a SELL at this current time. Keep your eyes glued to the news regarding this bank. There are various factors that are bringing this stock down, but there is one KEY thing you need to focus on . . . NATIONALIZATION. There are numerous rumors that this bank will be nationalized, which will ultimately wipe out all shareholders. Kenneth Lewis (CEO of Bank of America) recently stated that he was assured this will not happen, but until there is 100% confirmation that this statement is legit, the stock will continue to struggle and make shareholders cringe day after day. Keep up to date with the news. IF this bank is able to confirm that they are NOT going to be nationalized, then this stock could be the steal of the year at around $4.00. It's in your best interest to buy this stock immediately if this news comes about; HOWEVER, if they do in fact receive official word of nationalization, then don't get near it with a 10 foot pole, as its value will diminish quicker than you can blink. Basically, getting nationalized will be the same as a company going out of business . . . you lose EVERYTHING!

Workstream Inc. (WSTM)

In today's incredibly touch economic times, more and more people are losing jobs on a daily basis, which obviously means more and more people are applying for jobs. It's extremely difficult to set yourself apart from the 100's (sometimes 1000's) of other applicants from that job you are applying for . . . for this reason, many people are using professional resume services to help give them a competitive edge over the job hunters. With this in mind, Workstream could be a great stock to buy and hold. This company specializes in resume and career services, as well as job coaching and consulting. With so many people losing their jobs and trying to enhance their resumes, it would seem hard to believe that this stock would tank like many of the others. Around late December, this stock was barely at 3 pennies, but since then, it has gradually and steadily climbed up and has been staying consistent in the 11 to 13 cent range. That may not sound like a lot, but if you bought this stock for 2 cents a couple months ago, you are loving every moment!

So keep an eye out on both of these stocks. They both could prove to very profitable to you . . . and they could help recover some of that money you lost earlier!