Dr. Kris'  Instablog

4:00 pm ET: It seems as if the bears spent the entire month of January in hibernation, but as soon as February hit, they woke up along with Punxatawny Phil. They've shaken off the snow and are venturing out in search of some market weakness on which to nibble. They're hungry and they're on the move--the bulls had better watch out!

How can we tell the bears are back? On the macro level, the daily of chart of the major averages tell some of the story. They've been trading sideways since the beginning of the month and the fact that the daily trading range is so wide tells me that the bears are starting to make their presence known. We also have the fact that the VIX is starting to move out of its range of complacency (above 14). A close above that level for two consecutive days would be further indication that the bulls' strength is weakening. Even so, it's not time yet for them to worry. I do think the market will go higher with an SPX retest of its previous two all-time highs in the 1550-1575 range. If it doesn't manage to best it, that's when the bulls should definitely make their move to the sidelines.

Trade of the Day: Countering granite with quartz?
Caesarstone Sdot-yam (CSTE) is an Israeli maker of quartz countertops used in both residential and commercial construction as well as in home-remodeling. Earlier today in its earnings announcement, the company reported a 45% increase in 2012 sales just in the U.S. alone. The good news propelled the stock up 9%. Subscribers to my stock service are already familiar with this company as it was chosen as a Stock of the Day pick several weeks ago on January 18th. Since then, share price has risen 15%. I do think there's a lot more upside as the company continues to grow both domestically and globally. It's expanding production by 15% in its current facilities and is scheduled to open a new production unit in the US by the end of next year. Considering the domestic and global boom in construction and home remodeling and the fact that, well, a lot of people are looking for something more versatile (the color can be customized) and more modern looking than granite, I believe that Caesarstone is poised for growth in the next couple of years.