Traders Target Oil Stocks as Profit-Taking Turns Toward Panic Selling: 7 Stocks You Need to Know for Tuesday

  • June 6, 2011
  • David Penn

Sellers remained on the offensive in Monday’s trading, turning their focus squarely on energy stocks. Among the biggest pullbacks in the S&P 500 are stocks such as ^NBR^, down more than 5%, and ^VLO^, off by more than 4%.

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Here are 7 Stocks You Need to Know for Tuesday

Traders sent shares of ^TSO^ lower for a fourth straight session. The stock pulled back by more than 4% on Monday alone.

Down four days in a row and pulling back by more than 7% ahead of trading on Tuesday are shares of ^LO^ (below).

The stock has closed in oversold territory for the past three consecutive trading sessions.

What’s up on a down day? Shares of ^HOG^ finished well off their highs, yet still managed to close up by more than 2% on Monday.

Up more than 1% after a three-day pullback into oversold territory were shares of ^SBUX^ (below) in Monday’s trading.

SBUX chart

Like Harley-Davidson, SBUX struggled to hold on to its gains, ending the session significantly off the highs of the day.

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Not all upscale retailers are doing well in the current market environment. Scheduled to announce quarterly earnings on Tuesday, ^TLB^ still has share prices languishing well below the 200-day moving average.

Shares of ^AMZN^ (below) have closed lower for three out of the past four trading days, including a lower close on Monday, which put the stock in oversold territory above the 200-day moving average ahead of trading on Tuesday.

AMZN chart

Since reaching a top in mid-May, AMZN has pulled back into oversold territory twice, rallying into strength above its 5-day moving average in both previous instances.

^EBAY^ pulled back to a new short term low just barely above the 200-day moving average. Remarkably, the stocks is not yet in oversold territory.

David Penn is Editor in Chief of TradingMarkets.com