Top Takes From RealMoney

This reminds me of the 2003 NFL draft, when the Vikings missed sending their first-round pick (No. 8 overall) to the podium during the 15-minute allotted time window. They ended up picking 10th after that fiasco.

3. Cautious on W.W. Grainger

James Altucher
4/13/2009 10:36 AM EDT

W.W. Grainger(GWW Quote) is not a name everyone follows, but I am a bit leery of the upcoming quarter tomorrow morning. The company principally operates in the industrial sales and marketing segment, selling electronic and construction wholesale equipment. It sells tools, pumps, cleaning products and motors to a wide array of customers in the U.S. and aboard. Most of the items GWW sells are considered "large-purchase" items and are purchased once or twice a year, max. The company recently fired 400 workers, citing lower sales in its industrial supply business, as same-store sales have trended lower (-9% in Jan. and -10% in February). Insiders have sold $2.6 million worth of stock over the past month or so, and the stock is more than fairly valued at 15.04 next year's earnings. The $75 puts for $1.50 seems interesting here -- worth watching.

4. Morning Trade

Bob Byrne
4/13/2009 9:27 AM EDT

We have a slight bias to the downside this morning, with the emini trading off by just shy of 1%. If the bulls are going to continue to push this market higher, they need to sustain a trade back above 848. Traders should be attracted to the long side above 848 with strong resistance at 855 in their sights. If there are any bears left in this market, they should make an appearance near this level. We may see false breaks above 855, as moderate resistance is just above at 858.