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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Morning Prep

By Ken Wolff
06/05/09 8:41 a.m.

The PowerShares QQQ(QQQQ Quote) is up after better-than-expected jobs numbers. The market was relatively strong yesterday with a rather narrow range of 40 cents. If the consumer confidence rally is any indication, we can move up big today -- the QQQQ hitting $38.50. ... I am going to expect some selling at the open, but be prepared to enter early if and when the bulls take the market by the horns. We should see leadership with Apple(AAPL Quote), Google(GOOG Quote) and Goldman Sachs(GS Quote) ... Rio Tinto(RTP Quote) is up big on a very nice recovery continuation!

No positions

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Unemployment: Good News, but I Don't Get It

By Frank Curzio
06/05/09 9:04 a.m.

I'm scratching my head at this 345,000 number. Out of 75 economists polled by Bloomberg, the lowest estimate was 450,000, with the median at 520,000. Weekly claims and ADP data suggested 450,000-550,000, and Ben Bernanke told us two days ago that unemployment picture is likely to worsen over the next few months.

Don't get me wrong -- enjoying the nice pop in the futures, but economists need to find a better way to forecast.