Dividend.com: Midday Update

The markets are getting hit very hard and traders may want to prepare for further weakness. Let's take a look at what is working and what is not.

Bullish:

Treasuries(TLT Quote): As equities get hit hard, the bond play is looking good again. I talked about this on Friday. Move up your trailing stop as this ETF rallies.

Ultrashort Plays: ProShares UltraShort Finanials(SKF Quote) and UltraShort Real Estate(SRS Quote) are also carrying through with gains as well and these two plays are acting very well. We would also move up our trailing stops here, but give yourself some room from current levels (minimum 50-cent cushion).

Medarex(MEDX Quote): This biotech play rising on positive prostate cancer news.

Upgrades: Ameristar Casino(ASCA Quote) and Waters(WAT Quote) are rallying on analyst moves.

Well-Known Names Bucking the Downtrend: Coach(COH Quote), Visa(V Quote) and KB Home(KBH Quote).

Bearish:

High-Beta Plays: Intuitive Surgical(ISRG Quote), Green Mountain Coffee Roasters(GMCR Quote) and First Solar(FSLR Quote) trading sharply lower.

China Tech/Internet: Baidu(BIDU Quote), Shanda Interactive(SNDA Quote) and Netease.com(NTES Quote) are all getting hit hard.

Financials: Goldman Sachs(GS Quote) and JPMorgan Chase(JPM Quote) leading financial gauges trading lower.

Transports: We're examining railroad, airlines, truckers and package-delivery plays all weak. Watching Union Pacific(UNP Quote), FedEx(FDX Quote) and C.H. Robinson (CHRW Quote).

Internet Giants: Google(GOOG Quote), Priceline(PCLN Quote) and Amazon(AMZN Quote) all trading 4% to 6% lower.

Commodity Stocks: U.S. Steel(X Quote), Freeport McMoran(FCX Quote) and CF Industries(CF Quote) are all getting crushed.

Oil(USO Quote) and Gold(GLD Quote) are also very weak in afternoon trading.