7 Stocks For Tuesday
Stocks fell on Monday as oil hit another record high.
Crude traded above $63/barrel after the U.S. embassy in Saudi Arabia
was closed for two days due to an unspecified threat. Gasoline hit a record high
as well.
Over the past two weeks a number of
US refineries have been shut down unexpectedly. At the end of July reserves hit
the lowest level since November 2004.
Baidu.com
(
BIDU |
Quote |
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PowerRating) fell $6 after its stunning debut on Friday. BIDU
closed at 116.42. Some analysts are expecting good performance from IPOs this
week on the heels of BIDU’s success. Coming this week is Refco (RFX),
which is offering 25 million shares between $19 -$21 and Ruth’s Chris Steak
House, offering 11.4 million shares between $15 -$17.
Here are 7 stocks to look at for Tuesday:
Intel closed
well, although below its 50-day moving average. Semis lead the market, so a
bounce here could give you a heads up to some upside potential on Tuesday.
May Department Stores closed right on its
50-day moving average. This is an alert zone for institutions–watch the price
action here and if it holds it may bounce.
Are you sorry you missed Baidu? Don’t be. Watch
this stock for a few more days and only consider it when it rallies from a
pullback,
Texas Instruments pulled back from recent
highs and made a failed rally attempt today. Again, semis lead, so watch this
issue.
With all the Baidu talk, eBay could see
more action. That is a nice orderly pullback, the kind you like to see. When the
stock takes out Monday’s high, it could be a buy.
Priceline.com beat by 0.04.
Friday’s bar shows some buying pressure. The recent highs are not that far away,
though and could be a double top.
Fluor missed by 0.05 and guided
lower. This stock will be weak on Tuesday.
Brice Wightman