Dividend.com: Midday Update - TheStreet

Well, I guess my theory that fund managers may make a dash for the exit appears to be taking shape, as the markets are selling off hard as we approach mid-afternoon. Let's take a look at where the action is.

Bullish

Earnings Winners

:

H&R Block

(HRB) - Get Report

and

Apollo Group

(APOL)

are up nicely on their results.

Geron

(GERN) - Get Report

: Stem-cell play signs a deal with GE Healthcare.

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Upgrade Winners

:

Amazon

(AMZN) - Get Report

,

Research in Motion

(RIMM)

and

Electronic Arts

(ERTS)

are seeing some green, stemming positive Wall Street analyst actions this morning.

Bearish

Commodity Plays

: On the back of a

Schnitzer Steel

(SCHN) - Get Report

earnings miss this morning, we are seeing other commodity plays like

BHP Billiton

(BHP) - Get Report

,

Freeport McMoRan

(FCX) - Get Report

and

U.S. Steel

(X) - Get Report

lower.

Financials

: Most of the sector is in the red, even names like

Goldman Sachs

(GS) - Get Report

and

JPMorgan

(JPM) - Get Report

.

Transports

: Key sector is pulling back as rail and trucking plays take a hit.

AMR

(AMR)

was also downgraded.

Gold/Gold Stocks

:

Gold

(GLD) - Get Report

is trading lower and that is dragging shares of

Agnico-Eagle Mines

(AEM) - Get Report

and

RandGold Resources

(GOLD) - Get Report

shares nearly 3.5% lower.

Oil

(USO) - Get Report

: Prices are trading near the lows of the day.

Treasuries

(TLT) - Get Report

were weaker earlier, but have almost bounced back to even for the day.

Some of the early plays I highlighted in my Morning Playbook are the tells we had been expecting. I told investors to watch

Apollo Group

(APOL)

as well as its competitor

Strayer Education

(STRA) - Get Report

for an early pop, which we got. The selling in Schnitzer was a heads up for someone looking to add some short bias to the trading portfolio.

I am not sure how much more selling we get today, but if you are heavy on long positions, you want to keep those stops in firmly.

Be sure to visit our complete

recommended list of the Best Dividend Stocks

as well as a

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.

At the time of publication, the author had no positions in stocks mentioned, although positions may change at any time.

Tom Reese and Paul Rubillo are senior editors of Dividend.com. Visit Dividend.com for more dividend stock ratings, picks, news, and analysis for long-term and income-seeking investors.