Apart from the rebalancing of funds from Risk-On (bonds, utes) to Risk-Off (small-caps, tech) mode, there's not too much to write about. Investors and traders looking to spark their portfolios may wish to consider the following long and short ideas:

On the bullish side: The Aerospace industry has been on fire and today saw many issues notch new highs: Boeing (BA, $154), Lockheed-Martin (LMT, $202), Northrup-Grumman (NOC, $170), Huntington-Ingalls (HII, $133), Hexcel (HXL, $47), L-3 (LLL, $131), Spirit Aerosystems (SPR, $51). While most of these have seen significant gains in the past couple of months, they are still not over-valued with all of them trading at P/E multiples under 21 (most in the 16-20 range). Out of the above group, Lockheed-Martin sports the most bullish charthaving just broken out of a two month double-bottomed base on heavier than normal volume.

On the bear side: The threat of rising interest rates has halted the ascent in real-estate investment trusts (REITs). One of the most popular REIT exchange-traded funds, Vanguard's REIT etf (VNQ), has been falling from its all-time high put in on January 28th. Today, the stock fell through its second support level at $84 on heavier than normal volume. The next level of support is around $80 which is about 4.5% below today's close. Those of you in this space should tighten up your stops/book profits/protect your position.

For those of you with an appetite for risk, you may wish to consider buying the inverse (bearish) REIT exchange traded vehicles: 
SRS is the 2x short REIT fund (SRS, $11.86) 
DRV is the 3x short REIT fund (DRV, $22.93)