Dividend.com: Midday Update

The market is attempting to make a move up here, as buyers try to shake off the recent two-day slide. Let's take a look at what traders should be focused on right now.

Bullish:

Baidu(BIDU Quote): The stock is working well after a Goldman Sachs(GS Quote) upgrade this morning. We mentioned this as a favorite play if the morning print would hold and it did. If you are long, move up your trailing stock as the stock moves higher.

Retail Holders(RTH Quote): ETF play that encompasses various retail stocks is trading higher after flat opening. Shares of Best Buy(BBY Quote) are rallying as well. I am cautious on retail here as we enter a seasonally slow time.

Earnings Plays: Despite some tough reports, Adobe(ADBE Quote) and FedEx(FDX Quote) are hanging tough. FedEx may be bouncing simply because it was $58 last week and was down at $50 this morning.

Watson Pharmaceuticals(WPI Quote): Bouncing up after acquisition announcement.

Treasuries(TLT Quote): TLT may be on the way to making it five days in a row of gains. We are considering a short position in this play this afternoon, if the stock shows any signs of pulling back.

UltraShort Plays: UltraShort Real Estate ProShares(SRS Quote) and UltraShort Financials ProShares(SKF Quote) have worked beautifully. As we said this morning, we would cover half the position and move the trailing stops up to maximize your profit potential on this timely trade.

Transports(IYT Quote): Turning positive after earlier lows. Airline plays like Continental Airlines(CAL Quote) are leading the way higher.

Bearish:

Financials: JPMorgan Chase(JPM Quote) and Goldman Sachs are pulling back and taking the financial sector down with it.

Commodity Plays: Potash(POT Quote), Freeport McMoran(FCX Quote) and BHP Billiton(BHP Quote) are all lower, but bouncing off the lows of the day. The whole commodity stock complex is getting short-term oversold, so I would be ready to take some quick long-side positions in these names as well as U.S. Steel(X Quote), Nucor(NUE Quote), and Joy Global(JOYG Quote).

Gold(GLD Quote) and Oil(USO Quote) are trailing so far. As is always the case, the market will tend to overshoot and create short-term trading opportunities that we plan on bringing to everyone out there.

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