Dividend.com: Midday Update

So far so good, as we start the third quarter. Let's see where the action is for traders.

Bullish

Earnings Winners: Constellation Brands(STZ Quote) and General Mills(GIS Quote) are enjoying a pop from their results.

Analyst Upgrade Winners: Marvel Entertainment(MVL Quote), Symantec(SYMC Quote), Microsoft(MSFT Quote), IAC/Interactive(IACI Quote), TRW Automotive(TRW Quote), Yum! Brands(YUM Quote), C.H. Robinson Worldwide(CHRW Quote), Priceline(PCLN Quote), Intel Corp(INTC Quote) and Aeropostale(ARO Quote) are seeing the biggest pop from this morning's analyst calls.

Commodity Plays: Select names are doing well, such as Walter Industries(WLT Quote), Freeport McMoran(FCX Quote) and BHP Billiton(BHP Quote).

Transports: FedEx(FDX Quote) and Continental Airlines(CAL Quote) trading higher so far today.

Consumer/Non-Cyclical: Kraft(KFT Quote), Pepsico(PEP Quote) and Procter & Gamble(PG Quote) getting a pop following General Mills earnings report.

High-Beta Small Cap: Changeyou.com(CYOU Quote), Fuqui International(FUQI Quote), VistaPrint(VPRT Quote) and Perfect World(PWRD Quote) are all spiking higher.

Bearish

Myriad Genetics(MYGN Quote): Stock is down 26% after company warns on revenue forecast.

Credit Card/Financials: Stocks like Visa(V Quote), Blackrock(BLK Quote) and other financial plays are not participating too much in this morning's euphoria.

Exchange Plays: CME Group(CME Quote) and Intercontinental Exchange(ICE Quote) are also non-factors.

First Solar(FSLR Quote): Stock may be a good short candidate if the market reverses gains from this morning. Stock is now down $5 as we speak.

Gold(GLD Quote) is doing a good job holding this morning's gains, but Oil(USO Quote) has seen the opposite occur with this morning's pop failing to hold and prices are now lower. Treasuries(TLT Quote) are also lower, but have seemed to hold the intraday lows pretty well so far. Fund managers are putting whatever cash they have on hand back into the momentum plays that we mentioned above.

We have the key monthly jobs data out tomorrow morning, so I wouldn't make too many aggressive bets today in front of that release. I would watch the transport plays and this morning's upgrades for any sign they may showing some weakness, as a cue to taking a small taste of FSLR on the short side.