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Tuesday's Retail Rally

Believe it or not, retail gave a boost to the stock market on Tuesday. Wait until you hear which big box offered the Street a solid quarterly profit and an upbeat forecast.

Wal-Mart (WMT) reported a higher-than-expected 8 percent rise in quarterly profit, helped by tighter control on expenses and efforts to draw customers into its U.S. stores earlier than ever for holiday shopping.

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Retail stocks on Tuesday are just making up for lost ground, says Jeff Macke on CNBC's "Closing Bell." Wal-Mart gave investors an excuse to buy. The stock is flat year to date, he adds. This is only a nice rally if you bought retail stocks at the close yesterday.

I continue to be very selective in this market, Macke adds. "I like the price action in Costco (COST) and The Gap (GPS)."

Also, watch Kohl’s (KSS), he says. They’re a good merchant and if consumers are starting to go downscale, they’re in the right space.

> Read more "Wal-Mart Surprises With Strong Profits..."

Symbol
Price
 
Change
%Change
COST
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GPS
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KSS
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WMT
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Trader disclosure: On Nov. 13, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (YHOO); Najarian Owns (VMW), Najarian Owns (AMTD) Options, (AMZN) Options, (C) Options, (CSCO) Options, (GOOG) Options, (GS) Options, (XLF) Options, (YHOO) Options; Finerman's Firm And Finerman Own (GS); Finerman's Firm Owns (AMTD), (KALU), (KSS), (TYC), (WMT), (YHOO), (LTD), (TSO); Finerman's Firm Owns (HD) And (HD) Puts, Finerman Owns (HD); Finerman's Firm Owns (BIIB) Options, (CROX) Options, (MSFT) Options, (TGT) Options; Finerman's Firm Is Short (MER), (SPY), (IWM), (MDY), (IYR); Finerman's Firm Owns (LEH) Puts

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