By Dave Karger
Updated February 04, 2010 at 05:01 AM EST

Today we kick off the first of six weekly OscarWatch videos in which my colleague Missy Schwartz and I will discuss the most interesting Oscar races of the year and help you identify which movies you need to catch up with before Oscar night on March 7. Now that the nominations are finally out, we begin with the Best Picture and Best Actress categories, which boast two of the tightest races of the year. Is the momentum with Avatar or The Hurt Locker? Sandra or Meryl? Here’s where we stand right now; we’ll have more OscarWatch TV updates every week until the telecast.