Dividend.com: Midday Playbook

Today certainly appears to be shaping up as a pause to the recent uptrend in the markets. We have more big earnings after the bell, so traders need to tread carefully here. Let's take a look at some names that are worth tracking.

Bullish

Earnings Winners: Pfizer(PFE Quote), SunTrust Banks(STI Quote), Apple(AAPL Quote), Starbucks(SBUX Quote), Illumina(ILMN Quote), C.H. Robinson Worldwide(CHRW Quote) and homebuilder NVR, Inc(NVR Quote) are all trading higher.

Onyx Pharmaceuticals(ONXX Quote): Shares are surging on positive breast cancer drug study data.

Other Notable Winners: FedEx Corp(FDX Quote), KB Home(KBH Quote), and Wynn Resorts(WYNN Quote) are gaining.

Bearish

Earnings Losers: St. Jude Medical(STJ Quote), Genzyme Corp(GENZ Quote), Aaron's Inc.(AAN Quote), Wells Fargo(WFC Quote), Allegheny Technologies(ATI Quote), Whirlpool(WHR Quote) and Bank of NY Mellon(BK Quote) are some of the biggest losers.

Other Notable Pullbacks: First Solar(FSLR Quote), Fuqui International(FUQI Quote) and Baidu(BIDU Quote).

What's the Trade?

It certainly feels like a consolidation day may be in the cards for today's action. Oil(USO Quote) is lower in the early going, but Gold(GLD Quote) is digging in with some gains so far. Treasuries(TLT Quote) are down a bit as bond traders try to parse through the latest economic data which showed recent home prices with a slight uptick. Inflation watchers are looking for any signs that the massive amount of money supply may be beginning to have an effect.

As for some of the ideas I mentioned this morning, there has not been a clear entry point yet for a short position in Agnico-Eagle Mines(AEM Quote) or U.S. Steel(X Quote).

I am still monitoring those two plays as well as Baidu(BIDU Quote). That red-hot stock, which was upgraded this morning, has not responded well so far today. This could be a signal that a pullback may be in the works for momentum plays and the market in general, so I'll be watching the market closely.