MINNEAPOLIS ( Stockpickr) -- The market opened 2011 with some trepidation. Investors returning en masse were cautious given the impressive gains in December. It wasn't clear if a correction was forthcoming, and most of the buying was limited to the largest names in the market.Certain momentum stocks and commodity names tied to the inflation trade moved substantially lower during the first week of trading. Noticeably, gold fell hard thanks to a strengthening dollar. It was a mixed bag for our earnings trades last week. On a positive note, Mosaic ( MOS) greatly exceeded expectations and the stock moved higher by a few percentage points. The gains were short-lived as the commodity trade collapsed. Mosaic finished the week flat. Related: Rocket Stocks for the Week Sonic ( SONC) reported earnings that beat estimates helped by a tax benefit of two pennies. The narrow beat of estimates resulted in shares jumping. Traders betting the other side were able to get out of the trade with minimal damage immediately after the market opened. Shares of Family Dollar ( FDO) were crushed by nearly 10% as the discount retailer reported profits that missed expectations by three cents. More troubling for the company was a reduction in guidance for the future. The move in Family Dollar demonstrates the challenges for momentum stocks. One earnings stumble and shares are likely to collapse. The miss in this previously hot stock was stunning to say the least and could portend the future for similar momentum names. The market offered investors several clues last week. While momentum names and commodity stocks retreated larger company stocks performed very well. The S&P 500 was up more than 1% last week. In contrast, the smaller-cap stocks traded flat. On the commodity front, gold and oil both traded lower. The selloff in gold was triggered by the strengthening in the U.S. dollar and economy. Clearly there was a rash of profit-taking in the market last week. Looking forward, earnings season begins next week with Alcoa ( AA) releasing its fourth-quarter profit number. After that report, the flood gates open. I expect strong profit numbers to provide enough fuel for stocks to resume their climb. Here are a few reports to trade.