Trading continues to be in the trenches, as the bulls and bears slug it out for direction in this market that continues to be characterized by high risk. Yet there was some positive news from several key technology companies on Thursday that is encouraging for traders.

 There were positive earnings reports from Advanced Micro Devices, Inc. (NYSE/AMD), Google, Inc. (NASDAQ/GOOG), and International Business Machines Corporation (NYSE/IBM) that could give the technology sector a boost in the near term.

 A positive technical point we saw on Thursday was buying surfacing in the NASDAQ after the index fell within 23 points of its recent multi-year low, which we feel is a positive sign and potential confirmation that a near-term bottom at just under 1,600 would hold.

 There is also some optimism in the market after news made the wires that investment guru Warren Buffett was in favor of and buying U.S. stocks, which should add optimism. In an article Buffett wrote in "The New York Times," he said he was buying U.S. stocks, adding, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

 Clearly Buffett believes in buying stocks in time of chaos, which we find the current market in. This makes sense, as buying when the masses are selling means you are paying less for stocks. The success of this strategy only works if you have a longer-term horizon, as there are likely to be more bumps in the road before the economy and stocks turn back up.

 Buffett has always been an excellent resource in the market. He rarely is wrong and his opinion to buy in times of chaos makes sense. Follow Buffett's money and you probably will be successful in investing. You just need to absorb the short-term bumps and volatility.