This was one of those low-report days for economic data. We had two current and one former DJIA components report earnings and the earnings reactions today were only so so. Today's action felt like a long week that ended the start of earnings season where traders just wanted that closing bell to come. The DJIA and S&P were so mixed throughout the day that knowing where the markets were was a guess more than a feel.

Here are today's unofficial closing bell levels:

Dow 8,743.94 +32.12 (0.37%)
S&P 500 940.38 -0.36 (-0.04%)
Nasdaq 1,886.61 +1.58 (0.08%)

Top Analyst Upgrades/Downgrades

Suncor Energy (NYSE: SU) is expected to close on its purchase of Petro-Canada (NYSE: PCZ) in Q3 pending regulatory approvals. PCZ will receive 1.28 shares in the new company for each of their shares while SU holders will receive one share.

SU closed at $30.60. PCZ closed at $38.83. WTI Crude oil is recently down 0.21% to $71.34 according to Bloomberg. SU August option implied volatility of 53 is below its 26-week average of 60, according to Track Data, suggesting decreasing price movement.

Petro-Canada August option implied volatility is at 54, below its 26-week average of 59, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Petro-Canada (NYSE: PCZ) will be purchased by Suncor Energy (NYSE: SU), the world's second-largest oil-sands producer, for about $14 billion.

PCZ will receive 1.28 shares in the new company for each of its shares, while SU holders will receive one share. PCZ April option implied volatility closed at 64, below its 26-week average of 71, according to Track Data, suggesting decreasing price movement.

SU April call option implied volatility closed at 82, puts at 89, above its 26-week average of 80, according to Track Data, suggesting larger price movement.

Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

"The best thing to do in this market volatility is to take a deep breath and say, 'This too shall pass'," says Neil Macneale, who buys only stock split candidates for his 2-for-1 newsletter. Here is his latest.

"In general, getting out of the stock market at this time would be exactly the wrong thing to do. If 'buy low, sell high' means anything, we should be buying stocks now with whatever cash we can find. Otherwise, the ship will sail without us. Of course, given the exact market bottom is not knowable until after the fact.

"Indeed, new purchases may not be perfectly timed, but we continue to believe that it will be better than not buying at all. And because our policy with our 2-for-1 portfolio is to buy something every month, at least one of our purchases over the next several months will be very close to perfectly timed.

In his Block Trader Oil & Gas, Peter Way follows the big hedge funds and market makers to find out what they are doing. Here's a look at his top oil plays.

He observes, "The hedgers at the NYMEX are protecting their crude oil positions in ways that indicate they see continuing upward pressure on prices."

Based on this hedging activity, he states, "The outlook for the next 12 expiration months that the by major players at the crude oil table suggest little lasting price weakness, and a general level prevailing above $70 over the remainder of the year."

What are the best stocks to buy to bet on the trend for firm oil prices? To decide, Peter Way looks at the buying patterns of market makers -- the big boys on the trading floor.

From their positions, he notes, "Among the large oil producers, China's CNOOC, Ltd. (NYSE: CEO), Canadian Natural Resources, Ltd. (NYSE: CNQ), and Suncor Energy (NYSE: SU) all combine historically strong odds and payoffs."

In addition, he notes positive market maker activity among oil exploration & production stocks. He explains, "With significant quantities of low-cost reserves already found, and prospects for additional finds tied up, these companies inevitably will get acquired by bigger producers whose customer demands exceed their yearly reserve findings."

For many, he says, it's just a matter of time. Notable stocks in the stock, he adds, are Holly Corp. (NYSE: HOC), Carrizo Oil & Gas (NASDAQ: CRZO), Range Resources (NYSE: RRC), Southwest Energy (NYSE: SWN), Ultra Petroleum (NYSE: UPL), and Talisman Energy (NYSE: TLM).

For more stock picks from the leading financial newsletter advisors, visit Steven Halpern's free daily website, TheStockAdvisors.com.

On a day when oil prices have jumped to over $64 a barrel most of the major oil companies have had a pretty boring day. All that is, except for Suncor Energy (NYSE: SU) which has been boosted after an upgrade this morning.

Most oil stocks have traded flat to slightly up in today's market, but not Suncor. Traders have sent the stock trading up 3.45% to $76.76 picking up $2.53 at this point in the trading session.The stock had traded up as high as $77.59 earlier in the session before some profit taking came in to push prices down a bit.

This morning the company was upgraded by Deutsche Bank to a Buy from a Hold. According to Deutsche, the stock can be used as an effective hedge against the current geopolitical unrest in the world: "Suncor's massive oil sands position are expected to generate sustained production growth with no declines over the next 50 years."

Wall Street seems to agree at this point. Let's check out a one year chart on the company:

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.