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Yesterday was a confirmation of the profit taking at highly exuberant price levels (i.e. DOW 11,200+ and S&P 1,200+). Like Lawrence Taylor sacking the QB at the peak of his career, May 2010 is fast becoming the knockout collision to the financial markets across the world.

Over the course of April, we’ve been alerting our premium subscribers to take profits and raise stop losses on their positions (i.e Atheros on April 20th & Western Digital on April 22nd). We strongly believed the equity markets were due for a correction and this month has proved us correct.

In an effort to look forward and not regress on yesterday’s historical financial market plunge, let’s think about Mother’s Day and how it can potentially improve your portfolio in the near-term.

Three things will make our Mother’s heart melt on Mother’s Day: Chocolate, Diamonds and Flowers. The respective trades are Hershey’s (NYSE:HSY), Tiffany’s (NYSE:TIF) and 1-800-Flowers (NASDAQ:FLWS). (click on all charts to enlarge)

Technicals: Hershey (HSY) is trading above both its 200-day and 50-day moving averages.

Of the three, we think HSY is the safest buy with a sweet dividend of 2.7% and a steady rising trend. TIF falls into the challenging luxury category where consumers have been seeking discounts more than ever. Sell TIF and buy it back cheaper. FLWS has sold off recently and could be a good time to play the Mother’s Day momentum for some upside return on your money.

Technicals: Tiffany’s (TIF) is now trading between its 200-day and 50-day moving averages.

Technicals: 1-800-Flowers (FLWS) is trading slightly under its 200-day and 50-day moving averages as they intersect one another.

If you’re feeling a little nervous about Thursday’s financial markets and economic climate, call your Mother and she’ll tell you everything will be all right …

Disclosure: No positions in the companies mentioned; Just a consumer of chocolate, flowers and a Kodak (EK) for my Mother.

Source: Forget Thursday's Market, Here's to the Mother's Day Trades