Dividend.com: Midday Playbook

The stock averages remain generally flat as we continue in the afternoon hours. Lots of sideways action as we close out what has been a good week for the market as far as point gains are concerned.

Bullish:

Earnings Winners: IBM Corp(IBM Quote), Mattel(MAT Quote) and A.O. Smith(AOS Quote) are all up following results.

Analyst Upgrades: CME Group(CME Quote) and JP Morgan(JPM Quote) are holding up the best on bullish calls.

Stock Winners: Union Pacific(UNP Quote), Walter Energy(WLT Quote) and Freeport McMoran(FCX Quote) are standouts from this morning's action. Names are getting a bit overbought so I would be careful chasing them here.

Bearish:

Earnings Losers: Google(GOOG Quote), BB&T(BBT Quote), Bank of America(BAC Quote), General Electric(GE Quote) and Callaway Golf(ELY Quote) are all lower on results, guidance.

Analyst Downgrades: Schnitzer Steel(SCHN Quote), Marriott International(MAR Quote), Akamai Technologies(AKAM Quote), and Nokia(NOK Quote) are all down on bearish calls.

Summary:

The ultrashort plays we talked about this morning (UltraShort Real Estate ProShares(SRS Quote) and UltraShort Financial ProShares(SKF Quote) SKF) are looking pretty good here. I would take a nibble on the long side and look to see how well it does by the end of the day before deciding to how to handle it going into next week. Gold(GLD Quote) is still up slightly. I am leaning more bearish than bullish here, but would wait till $90 is broken again. Oil(USO Quote) is trading up a bit and again my trader's gut is more bearish than bullish. I would watch this one from the sidelines. Finally, Treasuries(TLT Quote) are off of earlier lows and are slowly coming back. I am leaning more bullish here as I scour the earnings reports and get a feel on how soft the economy still is.

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