Market Wrap-Up for Oct.19 (GS, COF, IBM, HOG, FCX, CLF, NEM, AAPL, GOOG, more)

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Momentum traders have been the belle of the ball recently, especially with Google ( GOOG ) surging as it did last week following the company's earnings results.

Turn to last night and the eagerly anticipated report from Apple ( AAPL ) initially left some traders in a world of pain. There was clearly hope from many long-side only traders that Apple would once again reward the pre-earnings buyers. Unfortunately for them Apple didn't exactly give Wall Street the blow-out results they wanted and the stock quickly took a hit as it reopened in the after-hours. As a former trader, I can tell you that playing the earnings game is nothing more than a coin toss. If you are going to consistently make money and sleep at night, it would be in your best interest to get your mindset on finding quality dividend payers and leave the rollercoaster action to those that have the nerves for it, as well as the money they are willing to risk.

Financials like Goldman Sachs( GS ) and Capital One Financial( COF ) tried to mount a rally, but the sellers were in charge today. Companies like IBM Corp( IBM ) , Harley-Davidson( HOG ) and Illinois Tool Works( ITW ) were sold hard following their earnings results. Gold got hit hard as profit-taking hit the yellow metal today. Agnico-Eagle Mines( AEM ) , Newmont Mining( NEM ) and Barrick Gold( ABX ) were some of the mining chips that were cashed in by traders. Other commodity-focused names saw some selling, including BHP Billiton( BHP ) , Cliffs Natural Resources( CLF ) , and Freeport McMoran( FCX ) . Volume did pick up on the NYSE during the selling, finishing at 5.6 Billion shares traded.

As always, check out our industry-leading Best Dividend Stocks List for the top dividend names to put money into right now. Thanks for reading, and I'll see you tomorrow!

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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