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No. 2 - Frigid June For Retailers

June is often one of the best months of the year for retailers. But when same-store sales numbers hit The Street on Thursday there's a very good chance you'll be hearing differently. A beaten-up housing market and rising gas prices have continued to drag on spending. Can you avoid Thursday’s pain?

Jeff Macke says on Tuesday Sears (SHLD) dragged down the sector. Here’s a look:

Tuesday’s Performance
Sears (SHLD) -10%
Nordstrom (JWN) -3%
Target (TGT) -3%
Urban Outfitters (URBN) -6%
Wal-Mart (WMT) -2%



Jeff also says the following points are what investors need to know about June Same Store Sales.

- June and July are summer mark-down months. Pay more attention to hard lines and discounters than fashion plays. He says the news you can trade on will likely come out of Wal-Mart (WMT) and Costco (COST).

- Avoid specialty in general; Abercrombie & Fitch (ANF) and BeBe (BEBE) in particular

-Make a dip-buying shopping list: Jeff recommends Saks (SKS) and Costco (COST)

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Trader disclosure: On July 10th 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 (ATVI), (JWN); Najarian Owns (DNDN),Finerman's Firm And Finerman Own (HD), (NMX), (WMT), S&P Puts Bolling Owns (ICE), (NMX), (T), Gold, Silver, Natural Gas, Copper, Corn