NEW YORK -- Fighting the tape in this market environment is not a smart strategy if your bias has been short. Fortunately, the idea to cover the rest of the short ideas from yesterday looks smart right now, as we're seeing several amazing run-ups in specific names. Let's take a look at the stars and duds in today's action.

Bullish

Biggest % Earnings Winners: Equity Residential ( EQR), Flowserve ( FLS), Hartford Financial Services ( HIG), Lincoln National ( LNC), Aflac ( AFL), Dow Chemical ( DOW), Avon Products ( AVP), Wynn Resorts ( WYNN), Cummins Inc. ( CMI), Cablevision ( CVC), Goodyear Tire ( GT), Expedia ( EXPE), MasterCard ( MA) and Cigna ( CI).

Analyst-Upgrade Winners: General Electric ( GE), Tyco Electronics ( TEL), Yum! Brands ( YUM), General Dynamics ( GD), SAP AG ( SAP) and Hewlett-Packard ( HPQ).

High-Beta Momentum Winners: Apple ( AAPL), Priceline ( PCLN), Google ( GOOG), Baidu ( BIDU), CME Group ( CME) and Intercontinental Exchange ( ICE).

Other Notable Winners: JPMorgan ( JPM), FedEx ( FDX), BHP Billiton ( BHP) and Monsanto ( MON).

Bearish

Biggest % Earnings Losers: Symantec Corp ( SYMC), Akamai ( AKAM), Iron Mountain ( IRM) and Omnicare ( OCR).

Analyst-Downgrade Losers: McDonald's ( MCD) and Sealed Air Corp ( SEE).

Yahoo! ( YHOO): Shares continue to plummet following search deal announcement with Microsoft ( MSFT).

What's the Trade?

Oil ( USO) and Gold ( GLD) are bouncing back strong so far today. Treasuries ( TLT) are actually only down slightly, despite today's pop in the averages. We warned investors this morning to make sure the stops were in place on the short ideas mentioned here yesterday.

Ringing the register after a nice intraday drop is never a bad thing, especially when you see the jubilant reaction to earnings that has been evident throughout this earnings season.

Having a short bias in this market requires precision timing and patience for the scenario to set up. You will notice that I am not the type that fights the tape and clearly believes you need to respect the overall trend, which has been up since March.

In the meantime, focus on the names above and watch the price action as an indication for what names will be outperforming if the markets continue to ramp today. Stick with the high-beta and earnings winners with an eye on raising the trailing stops as the stocks head higher. But also be sure to use a sell-stop if the market decides to reverse lower for any reason. Remember to use discipline and don't trade over your head.

Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system.
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.

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