Dividend.com: Midday Update

As I discussed this morning, the end of the month mark-up has come right on schedule. Bernanke getting grilled earlier only kept the market from rallying even more, but we are motoring higher now. Let's take a look at what is working so far and what isn't.

Bullish:

Earnings Winners: Bed Bath & Beyond(BBBY Quote), Lennar Corp(LEN Quote), and Hertz(HTZ Quote): Raised guidance.

Upgrade Winners: Transocean Ltd.(RIG Quote), SLM Corp(SLM Quote), Ingersoll-Rand(IR Quote), Deere(DE Quote), Corning(GLW Quote), Analog Devices(ADI Quote), and Jefferies(JEF Quote).

Apple Inc.(AAPL Quote): Shares trading up nearly $3 as the Nasdaq rallies.

Internet Giants: Google(GOOG Quote), Priceline(PCLN Quote) and Amazon(AMZN Quote) are trading higher as shares look to close the quarter in a strong way.

High-Beta Plays: Blackrock(BLK Quote), Intuitive Surgical(ISRG Quote), and Sears Holdings(SHLD Quote) are all looking strong today.

FedEx(FDX Quote): Has refused to sell off following poor earnings guidance.

Commodity Plays: Freeport McMoran(FCX Quote) and Walter Energy(WLT Quote) lead the way up.

Bearish:

Earnings Losers: Nike(NKE Quote), Paychex(PAYX Quote), Red Hat(RHT Quote) and ConAgra(CAG Quote) are all down after their reports.

Analyst Downgrades: First Solar(FSLR Quote), Automatic Data Processing(ADP Quote), and Monsanto(MON Quote) are trading down after their respective downgrades.

Research in Motion(RIMM Quote): Shares still struggling following recent earnings outlook fumble.

Summary:

Oil(USO Quote) and Gold(GLD Quote) are starting to pick up steam to the upside. Treasuries are also up as interest rates pull back a touch. We are currently seeing the mark up of stocks from fund managers that are looking to chase some of the better performance names for the second quarter. If you are maintaining a short bias here, I would recommend stepping to the side and let the buyers do their thing here. I was very happy with our recent short-term plays we discussed here. Shanda Interactive(SNDA Quote) basically moved $6 in a day. If you are still in the position, be sure to keep a trailing stop on the stock. No reason to give up any of the sweet profits.