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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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1. MI Prices Secondary
By James Altucher
8:59 a.m. EDT

Financial Marshall & Ilsley (MI) priced an 87-million-share secondary last night at $5.75. The stock had closed at $6.14. In the premarket, the stock is trading around $6. I'm short the stock and may cover or trim around the open to take gains. However, I do think the stock will trade lower from here and may even break the offering price.

Last week Fifth Third (FITB - Get Report) priced at $6.33 and now trades at $8, after a GS upgrade, but this situation is different. Fifth Third's secondary was only 20% dilution. After the underwriter allotment, Marshall & Ilsley will suffer a little more than 30% dilution.

While the company plans on using some funds raised to pay back TARP, their balance sheet and prospects still won't be as strong as FITB's. If stock hits $5, I might attempt a short-term long to play a snapback; like I said, I probably (against my gut instinct that it will go lower) will take some gains on the short at open.

Short MI.
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