Amid market volatility, there are stocks investors shouldn't miss to buy, and there are those that are considered dead money that should be sold. Investor Place's editor Jeff Reeves reveals which stocks must be sold right now.

Reeves, in his report in MarketWatch, named five mega-caps that have been beaten up, and might not be able to bounce back any time soon. These are the well-known stocks that investors should sell now. These popular stocks are Wal-Mart, Chevron, Caterpillar, Proctor and Gamble, and Intel.

The retail giant Wal-Mart, which is first on Reeves list, is 29% under 52-week high. It has been struggling since 2012, because US consumers are moving away from the low-cost dealer. Its second quarter earning is down to $1.08 per share from last year's $1.21. Wal-Mart has also started its holiday shopping push in August, which is an obvious sign of desperation. Things are most likely to get worse for this giant retail store before it will get better, according to Reeves.

Next is Chevron, which is at 39% under 52-week high. Wall Street predicts a 38% drop in the revenue of the giant oil company. The elevated supply in oil is also another problem for this company. This issue is seen to persist in the long to medium term.

Caterpillar is another stock to be sold. A commodity crunch has adversely affected the mining equipment industry, turning Caterpillar into dead money since 2011. This company has consistently been underperforming for years.

Proctor and Gamble is another big name that has been steadily falling this year. Its shares are down 25% year-to-date. Meanwhile, its long term is also down 10% for the last 24 months, as S&P 500 added 20%.

Finally, Reeves suggests selling Intel stocks, which is now at 25% under 52-week high. This company is brutalized by the rise of the mobile devices and the decline of PCs.