Dividend.com: Midday Update

The market is seeing some back and forth action as the Nasdaq is once again attracting much of the buying from investors today. Let's take a look at the winners and losers.

Bullish:

Earnings Winners: Palm(PALM Quote) and Accenture(ACN Quote) are leading the way higher.

Analyst Upgrades Winners: Illinois Tool Works(ITW Quote), Navistar(NAV Quote), Polaris Industries(PII Quote), F5 Networks(FFIV Quote), Intercontinental Exchange(ICE Quote) and NYSE Euronext(NYX Quote).

Financial Winners: Goldman Sachs(GS Quote), Visa(V Quote) and Mastercard(MA Quote).

Treasuries(TLT Quote): Bonds doing well for a second consecutive week as interest rates dip again.

Momentum/Quarterly Winners: Fund managers are chasing the big winners -- Google(GOOG Quote), Baidu(BIDU Quote), Apple(AAPL Quote), Green Mountain Coffee Roasters(GMCR Quote) and Shanda Interactive(SNDA Quote).

Bearish:

Earnings Losers: KB Home(KBH Quote) and Potash (POT Quote) -- fertilizer giant warned.

Downgrade Losers: Nike(NKE Quote) and Gilead Sciences(GILD Quote).

Transports: Pulling back as FedEx(FDX Quote) turns back lower.

Boeing(BA Quote): Plane order cancellation/deferment hurting shares today.

I am not seeing any clear plays unless one is willing to play a game of "chicken" with fund managers who are insisting to chase the usual momentum plays. You would need to be quick on profit-taking in order to ring the register with that strategy. Traders can choose to take a shot with any of the stocks highlighted above, but I would recommend that stops are used as a means of trading discipline.

I will continue to stalk the market tape and look for solid risk/reward opportunities. Nothing has really popped up for my liking so far. Friday afternoons are not usually the best time to go aggressively long or short the market, so any play would have to be worth the reward.

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