Stocks

Swing Trading: Macy's Down, Polo Up as Markets Trade Lower at MidWeek

Stocks sold off aggressively in the final hours of trading on Wednesday, erasing gains from the previous session's late bounce. Heading into trading on Thursday, all of the major equity indexes are both oversold and trading below their 200-day moving averages.

Retail stocks continue to remain in focus as the back-to-school season gets underway and a slew of earnings - from Macy's and Polo Ralph Lauren to Nordstrom's and Kohl's - give traders and investors alike an insight into the state of business in the second half of 2011.

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Here are 7 Stocks You Need to Know for Thursday .

The best-performing stock in the S&P 500 on Wednesday was Polo Ralph Lauren Corp (RL | PowerRating ) . The stock rallied by more than 4% to finish back above the 200-day moving average. In other retail news, shares of Macy's Inc (M | PowerRating ) sold off by more than 3%, closing below its 200-day for a third session in a row.

Shares of LNKD (LNKD | PowerRating ) gained more than 1% ahead of trading on Thursday. LNKD had pulled back for three days in a row before bouncing on Tuesday and then again on Wednesday to close above its 5-day moving average.

Also rallying into strength on Wednesday after pulling back to close in oversold territory on Monday were shares of Chipotle Mexican Grill (CMG | PowerRating ) . CMG gained just under 1% on the day.

Closing at a new low below the 200-day moving average, shares of Cisco Systems Inc (CSCO | PowerRating ) lost 2% ahead of announcing earnings on Wednesday that were better than analysts had expected. CSCO was up more than 1% immediately in after hours trading.

More retail earnings are on deck for Thursday, with both Nordstrom Inc (JWN | PowerRating ) and Kohl's Corp (KSS | PowerRating ) scheduled to report. JWN finished lower by well over 3% on Wednesday, while shares of Kohl's ended the day off more than 4%. Both stocks are trading below their 200-day moving averages.

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David Penn is Editor in Chief of TradingMarkets.com

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


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

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