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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Allstate

By Mark Haefele
06/26/09 9:22 a.m.

FBR is raising its target price on Allstate(ALL Quote) because it sees improvement in the company's fixed-income investments and, by extension, its book value.

Positions: Long ALL

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Income and Spending

By Tom Graff
06/26/09 8:52 a.m.

I'm surprised the bond market is reacting as well as it is. The 10-year has rallied about 1/8 point since the release. The last several income and spending reports have shown declining spending, even in the face of mildly rising income. That's obviously noninflationary. This release shows some increase in spending, tepid though it may be. That at least potentially inflationary. Given how far the Treasury market has run the last several days, you'd think the market is looking for a profit-taking excuse. If we can hold below 3.55% on 10's, I'd say that's pretty bullish for next week.

Positions: Still long long bonds

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Morning Trade

By Bob Byrne
06/26/09 9:27 a.m.

Yesterday's rally began with the bulls defending the 891.50 support area and then ripping the heads off the bears. At 891.50, we were not that far from 882.50 ... our first of two major support zones. In late-afternoon trading we ran as high 917.75, and 924 will likely prove to be a large speed bump for the bulls.