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Nuance Communications (NUAN - option chain) shares are rising today after the company reported earnings last night, posting a fourth-quarter profit of $6.3 million, or 2 cents per share. Excluding one-time items, NUAN earned 32 cents per share on revenue of $275 million, beating analysts' forecasts of 29 cents per share on revenue of $272 million. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on NUAN.

NUAN opened this morning at $14.15. So far today the stock has hit a low of $14.00 and a high of $14.87. As of 11:55, NUAN is trading at $14.75 up 1.00 (7.3%). The chart for NUAN looks bearish.

Chinese stocks fell sharply on Tuesday. The catalyst was a call by bank regulators to raise more capital. Chinese banks will be required to raise $43 billion in new capital. Regulators have asked big banks to formulate plans for raising this new capital.

Bank lending in China surged this year, with some of this capital fueling the surge in Chinese stock prices. The Shanghai Composite hit a three-month high on Monday, up 77% for the year.

Valeant Pharmaceuticals (VRX - option chain) stock is trading lower today after an article in Barron's (subscription required) over the weekend said the company could see trouble ahead if its experimental epilepsy drug, which is undergoing the regulatory review process, is not profitable enough to offset declining royalties from its hepatitis C treatment. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on VRX.

This morning, VRX opened at $32.15. So far today the stock has hit a high of $32.95 and a low of $31.88. As of 11:30, VRX is trading at $32.07, down $1.21 (-3.6%). The chart for VRX looks bullish.

ADC Telecommunications (ADCT - option chain) stock is trading lower today after the company posted a fourth-quarter loss last night of $19.8 million, or 20 cents per share, on revenue of $183.9 million. ADCT also forecast a first-quarter adjusted loss of 10 to 0 cents per share on revenue of $250 million to $275 million. Analysts are forecasting a profit of 11 cents per share on revenue of $274 million. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on ADCT.

This morning, ADCT opened at $5.46. So far today the stock has hit a high of $5.93 and a low of $5.35. As of 12:05, ADCT is trading at $5.71, down 93 cents (-14.0%). The chart for ADCT looks bullish and S&P gives ADCT a positive 5 STARS (out of 5) strong buy ranking.

After-hours traders punished Dell (DELL) stock Thursday, following a weak third quarter earnings report from the technology giant.

Going into the afternoon earnings release, analysts had been expecting to see the company show earnings of 28 cents per share. Actual earnings came in much lower at 23 cents per share.

CF Industries (CF - option chain) stock is trading lower today after the situation surrounding two takeover deals continues to get murkier. Agrium (AGU) announced this morning that CF's stockholders tendered 62% of their shares into a hostile takeover offer launched by AGU. AGU extended the offer, which originally was to expire yesterday, to December 18. Meanwhile, CF's board said that it does not believe that the tender results reflect stockholder support for Agrium's offer. At the same time, Terra Industries (TRA) is fending off a hostile bid made by CF. The uncertainty surrounding this situation is holding back CF shares and if you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on the stock.

This morning, CF opened at $83.60. So far today the stock has hit a high of $82.50 and a low of $84.48. As of 11:50, TRA is trading at $82.71, down $3.58 (-4.2%). The chart for CF looks neutral and S&P gives CF a neutral 3 STARS (out of 5) hold ranking.

Barnes & Noble (BKS - option chain) shares have been moving sharply higher for the past few days and are continuing that trend today. Company insider and billionaire investor Ronald Burkle reported purchasing more than 4.4 million shares of BKS in the past week alone, valued at $90.2M. When a major holder makes a big purchase like that, it is often a sign of good things to come for that stock, if only because other investors may follow his lead. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on BKS.

BKS opened this morning at $21.00. So far today the stock has hit a low of $20.86 and a high of $21.55. As of 12:30, BKS is trading at $21.43 up 93 cents (4.5%). The chart for BKS looks bearish and S&P gives BKS a negative 2 STARS (out of 5) sell ranking.

Sprint Nextel (S) reported this morning that it paid off an outstanding loan worth $1 billion on its $4.5 billion revolving credit facility. As a result, the wireless company no longer has an outstanding balance on its revolving credit facility. At the end of the third quarter, Sprint had $5.9 billion on hand in cash, cash equivalents, and short-term investments, plus $1.6 billion in borrowing capacity under its revolving bank credit facility.

In other Sprint news this morning, Sprint shares were upped from "neutral" to "outperform" at Credit Suisse. Analyst Jonathan Chaplin set his price target at $6, asserting that the company will benefit from cost cutting, stronger sales of prepaid service, and improved customer retention trends. Sprint's stock settled Friday at $3.10, so Chaplin's price target implies expected upside of nearly 94%.

Illinois Tool Works (ITW - option chain) shares are rising today after the company reaffirmed its fourth-quarter EPS guidance of 54 to 66 cents. ITW also said it expects Q4 revenue growth between -1% and 5%, or roughly $3.64 to $3.86 billion. Analysts are expecting the company to post EPS of 62 cents on $3.68 billion. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on ITW.

ITW opened this morning at $49.70. So far today the stock has hit a low of $49.58 and as of 12:00, the stock is trading right near a new 52-week high at $51.11 up $2.13 (4.3%). The chart for ITW looks neutral and S&P gives ITW a neutral 3 STARS (out of 5) hold ranking.

Microsemi (MSCC - option chain) shares are rising today after the company reported earnings last night, posting a fourth-quarter loss of $31.26 million, or 39 cents per share. Excluding one-time items, MSCC earned 24 cents per share on revenue of $109.68 million, beating analysts' forecasts of 23 cents per share on revenue of $109.44 million. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on MSCC.

MSCC opened this morning at $15.22. So far today the stock has hit a low of $15.21 and a high of $15.94. As of 11:55, MSCC is trading at $15.78 up $1.39 (9.7%). The chart for MSCC looks neutral and S&P gives MSCC a neutral 3 STARS (out of 5) hold ranking.

TOL opened this morning at $20.14. So far today the stock has hit a low of $20.00 and a high of $21.47. As of 11:40, TOL is trading at $21.13 up $2.74 (14.9%). The chart for TOL looks bullish and S&P gives TOL a positive 5 STARS (out of 5) strong buy ranking.

The stock market is rallying. Commodities are on a tear. Yet the dollar is falling. Why?

There are several reasons for the drop in the dollar, but the most obvious and simple answer is that investors around the world are selling dollars and using the money to buy stocks and commodities, particularly oil and gold.

Last week India announced that it had bought 200 tons of gold from the International Monetary Fund (IMF.) At an average of say $1000.00 per ounce, the transaction amounted to about $7 trillion dollars. Chances are that India sold dollars from their sovereign fund to buy the gold.

The market continues to befuddle the bears as the third quarter earnings and stock prices continued to move in a positive direction.

During this period Washington has taken charge of the auto industry and helped prop it up with the "cash-for-clunkers" program. They continue to subsidize the real estate market with first-time home buyers incentives, and very low interest rates. The banks are being refueled by the Federal Reserve with interest rates as low as zero, while all the time currency stability has been sacrificed. This has driven gold prices to new highs.

This is the third review of my 2009 stock picks through September 30 (see: Chasing Value: 9 picks for 2009 -- APC, GE, ISRG, WFC and more). This years picks have annihilated index comparisons, so much so that I must attribute some of my good fortune to luck. However, I do believe the original reasoning was sound and the outlier nature of the gains certainly a result of an oversold market living in fear.

"We believe it is prudent to lock in some profits, and focus on developing an income stream in the event that we get either a major correction or double-dip recession," says Glenn Rogers.

The contributing editor to The Internet Wealth Builder suggests, "It seems to me to that the most promising areas worth considering are high-yield bond funds and international real estate funds, preferably with some underlying income." Here, the reviews four income ideas.

"I like high-yield bond funds, even though there is concern that interest rates will rise in 2010.

Clean Energy Fuels (CLNE - option chain) stock is trading lower today after the company reported third-quarter earnings yesterday evening, posting a loss of $18.46 million, or 31 cents per share, on revenue of $31.18 million. Analysts had forecast a 30-cent loss per share on revenue of $34.96 million. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on CLNE.

This morning, CLNE opened at $12.25. So far today the stock has hit a high of $12.25 and a low of $11.55. As of 11:40, CLNE is trading at $11.87, down 97 cents (-7.6%). The chart for CLNE looks bearish.