Market Wrap-Up for May 5 (PNC, X, CLF, BBY, HOT, WAG, more)

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The market was certainly as much of a rollercoaster today as we have seen in a while. A poor start, followed by a big rally back, but only to see the last few hours drift into the red once again.

We are using the pullbacks in a different way, as we are going through the recommended names to remove some names that we see as potentially vulnerable in any sustained market correction. We removed 5 of the higher-yielding plays that were on our recommended list, as we would prefer investors focus on some of the other attractive high-yield plays that are still currently on our list. Be sure to check out the premium post if you did not read the e-mail alert we sent out this morning.

As for today's movers, some of the names that were able to hold up best in the selling included PNC Financial ( PNC ) , Walgreen Co. ( WAG ) , and TJX Companies ( TJX ) . Also, buyers did show up for the recently beaten-up commodity plays. Some of the names rebounding today included beaten-up commodity plays, U.S. Steel ( X ) , and Cliffs Natural Resources ( CLF ) . Elsewhere, there were some names that continued to lag. Diageo ( DEO ) , Best Buy ( BBY ) , and Starwood Hotels ( HOT ) were some examples of names that could not get much going. Volume was heavy once again, with 6.79 Billion shares traded on the NYSE and 2.87 Billion shares traded on the NASDAQ.

We'll continue to go through the recommended list names and be sure to take further action if necessary. We'll be sure to keep subscribers alerted to any further changes.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: BBY , CLF , DEO , HOT , PNC , TJX , WAG , X

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