Market Rebounds; Range Confirmed? (LLTC, RDWR, SYNA, LVS)

With bonds finally going negative on the session, currently the iShares Barclays 20+ Year Treasury Bond Fund (NYSE: TLT) is lower by 0.30%, stocks have been given to go-ahead to rally and rallying they are. The S&P 500 (NYSE: SPY) is currently higher by 2.75 point (0.26%), trading at $1,054. The index hit a low of $1,039 earlier in the session.

The U.S. Dollar (NYSE: UUP) is also well off its highs and the CBOE Volatility Index (CBOE: VIX), which was as high as 28.92 earlier in the session, in plummeting; currently the VIX is lower by 3.35%, at 26.54.

This suggests that the overall equity market can find bids here as stocks are now trading at the bottom end of its recent range. So, how to play it?

Traders and investors should look for stocks that have been outperformers in the recent downtrend, as these will continue to garner bullish momentum when more bulls return to chase performance. Names include Radware Ltd. (NASDAQ: RDWR), Synaptics Inc. (NASDAQ: SYNA), and Las Vegas Sands Corp. (NYSE: LVS).

Another group of stocks to buy at the bottom of the range are stocks that have seen strong institutional call buying recently. Names include Linear Technology Corp. (NASDAQ: LLTC), Synaptics (highlighted above), and Citigroup (NYSE: C).