TradingMarkets’ 7 Stocks You Need To Know About For Thursday

August 24, 2005
TradingMarkets Editors

Stocks fell to 7-week lows on Wednesday on record high
oil prices and a credit downgrade. Ford’s
(
F |
Quote |
Chart |
News |
PowerRating) credit rating
was cut to junk at Moody’s.

Crude Oil hit a new record-high as Tropical Storm Katrina
headed towards Florida, threatening production from platforms in the Gulf of
Mexico. Crude oil hit $67.40 intraday before closing near the high of the day.
Natural gas prices rallied above $10 for the first time in 30 months.

The EIA report earlier in the day revealed that Crude Oil
supplies rose 1.8 Mln barrels last week, while Gasoline supplies fell 3.2 Mln
barrels. The whole energy complex rallied strongly, led by October Harbor
Unleaded +3.71%, Natural Gas +3.12%, Heating Oil +3.10% and
Crude Oil +2.45%.

Here are a few stocks to watch on Thursday:

Allegheny
(
ATI |
Quote |
Chart |
News |
PowerRating)
is making a nice-looking pullback to its 50-day moving average, and may have
support at recent swing highs.

Toll Brothers
(
TOL |
Quote |
Chart |
News |
PowerRating) announces earnings on Thursday, so it may see some action.

This is a weekly chart of Fred’s
(
FRED |
Quote |
Chart |
News |
PowerRating).
As you can see, it’s trading at the bottom of a channel. Look for earnings from
FRED on Thursday as well.