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There was forgiveness in the air Thursday as stocks such as


(WMT) - Get Walmart Inc. Report


Sharper Image

( SHRP) and even


(VG) - Get Vonage Holdings Corp. Report

were able to shake off bad news,'s

editor-at-large Aaron Task says on Thursday's

The Real Story podcast.

Research In Motion

( RIMM) was a notable exception, but the forgiving mood extended to the subprime space, Task observes.

NovaStar Financial

( NFI) rallied on news it is seeking a possible sale.

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Countrywide Financial

( CFC) rose as traders focused on the company's overall lending growth vs. news the share of its mortgage portfolio that faces foreclosure nearly doubled in March from a year earlier.

Task's guests Thursday included Joe Capone of Smart Financial Partners and

, who discussed the

potential winners of the subprime crackup, including Countrywide and GSEs

Fannie Mae

( FNM) and

Freddie Mac

( FRE).

Helene Meisler, author of's Top Stocks, was Task's other guest Thursday and provided a technical view of the market amid the intense focus on earnings and macroeconomic events.

Meisler says she is "selling rallies" here because volume is lighter on up days vs. down, and the number of stocks making new 52-week highs is falling while those making new lows is rising. In other words, fewer stocks are participating in the rally from the March lows, she says.

Meisler also expressed concern that bullish sentiment has gotten too high in energy stocks, particularly mega-caps

Exxon Mobil

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Her comments came amid another sharp rise in crude prices and corresponding strength in energy stocks. But Task notes that Meisler's favorites such as

Talisman Energy




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outperformed Exxon and Chevron on the upside Thursday.

In the remainder of the podcast, Task discussed the day's corporate news, including the "M&A weirdness" involving

Dow Chemical

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Gold Fields

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, as well as actual M&A developments for





( MEDI) and

Cell Therapeutics

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Task also discussed the postclose news from

Lam Research

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(MRK) - Get Merck & Co., Inc. Report


CBS Radio

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here to listen to the entire podcast.