The market is fairly quiet today and this sometimes tends to favor those long the market. The short side tends to get aggressive and often times can be the trigger for what becomes a "short squeeze" in which markets shoot higher. Let's see what is sticking out so far today.

Bullish

Earning Winners: CSX Corp ( CSX) and Goldman Sachs ( GS) are looking pretty good so far.

Railroad Plays: Burlington Northern ( BNI) and Union Pacific ( UNP) are benefiting from the CSX results.

Commodity Plays: Freeport McMoran ( FCX) and BHP Billiton ( BHP) are leading a second-day-in-a-row rally.

Gold: Gold ETF ( GLD), RandGold Resources ( GOLD) and Agnico-Eagle Mines ( AEM) looking good so far.

Retailers: Two momentum favorites are higher, Sears Holdings ( SHLD) and Coach ( COH).

Oil/Nat Gas Upgrades: Anadarko Petroleum ( APC) and Occidental Petroleum ( OXY) are two names that were upgraded this morning and who may lead here as traders await an over-due energy rally. Look to these names if oil prices can stop going down for a day.

Analyst Upgrades: L-3 Communications ( LLL) and Mohawk Industries ( MHK) are rising nicely on the heels of Wall Street upgrades.

Bearish

Earnings Warnings: Dell ( DELL) and Take-Two ( TTWO) are down on weaker outlooks.

Exchange Operators: Intercontinental Exchange ( ICE) and CME Group ( CME) will need to make a stand soon or things will really get ugly.

Burger King ( BKC): Hitting new 52-week lows on downgrade from Bank of America/Merrill Lynch to a neutral.

Summary

As I mentioned earlier, a quiet market can sometimes favor the long side. We are going to be getting some more results after hours to key on, Intel ( INTC), Altera ( ALTR) and Yum Brands ( YUM). I will be especially keying on Yum Brands, especially after Darden Restaurants ( DRI) recently disappointed investors. The ultrashort plays are not looking enticing yet. Maintain some patience here, and there will be some good set-ups taking place. It always happens.

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