Sentiment Check

The market is giving back much of its gains since the Fed announcement. Here is a rundown of the sentiment indicators:

• The ARMS Index remains high at 1.28
• The CBOE put/call has been low all day, at 0.79
• The ISEE is elevated, near 160
• The VIX is up slightly to 20.43

Sentiment has started to get a little more bullish, and the put/call readings have started to reflect more optimism. Combined with an overbought market, this makes me think that we are likely due for a little breather from the rally. This could start today, tomorrow, or even the next week or so. But I would be careful putting new money to work here.

That said, here are some stocks showing up on my screen of high-volume gainers:

• MPWR, OTEX, TKR, TRLG, CYBS, CMI, TECH, FSLR, PSMT, PSEM