Top Takes From RealMoney

The RealMoney contributors are in the business of trading and investing all day on the basis of ongoing news flow. Below, we offer the top five ideas that RealMoney contributors posted today and how they played those ideas.

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Prudential Powers Higher

By Gary Morrow
05/07/09 4:04 p.m.

Prudential(PRU Quote) is up 20% today following positive comments from Morgan Stanley. Volume is extremely heavy, and this will be the second-heaviest day of trading in the stock's history. This surge has pushed the stock well above its 200-day moving average for the first time since last September.

This the second straight day of big gains for PRU. Yesterday the stock ramped 15% after the release of its first-quarter results. Volume was heavy yesterday as well but is dwarfed by today's level. The massive wave of buying has kept the stock near its intraday highs, even as the broader financial sector has faded (Goldman (GS Quote) is off 4%, Morgan Stanley (MS Quote) is off 5%.)

PRU has strong support now in place near its 200-day. A retest of this level, just below $39, would be healthy pullback and a buying opportunity. The stock has a tremendous amount of momentum and should test the $50 area in the next few weeks.

PRU Daily (NYSE)) Prudential Financial TradeStation

Shorts

By Paul Rubillo
05/07/09

So far the Fortune Brands(FO Quote) and J.C. Penney(JCP Quote) plays are looking right. I wish I had let the UltraShort Financial ProShares(SKF Quote) play go a bit longer than I did. I would be looking at it more aggressively if we didn't have the monthly jobs number out in the morning. If we get some good news there, the market drop may be short-lived. I will likely be checking out of FO and JCP later in the day.