MINNEAPOLIS ( Stockpickr) -- There is no sense trying to sugarcoat the moment: This is a very difficult market to navigate. Just when we thought the all-clear was coming after five straight days of gains, the market gives it all back in two short, brutal down days.
The trigger for the move last week was the Federal Reserve's announcement of Operation Twist. It was a fitting moment in that investors have been twisting in the wind for most of the year. The stark acknowledgement by the central bank that the economy faced significant downward risk sent investors and traders to the exits.
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Things calmed down a bit on Friday, and the market opened mixed on Monday morning. Stocks are trading mixed to slightly higher, but my sense is that most participants are shell-shocked. Could this be the sign that we are truly in a bear market? If we get more weeks like last one, investor spirit may be irreparably broken?For those who haven't given up entirely, trading is the way to go. Get in the market, then get out quickly. Most important, be selective. I maintain that companies reporting earnings provide just such an opportunity. Look no further than last week's impressive move by Nike (NKE - Get Report) after it reported earnings. Here are five stocks reporting earnings for selective traders.