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. Morning Prep
By Ken Wolff
8:41 a.m. EDT

GDP numbers were a bit better than expected and jobless claims a little worse. The market met the news with a yawn. Yesterday's trading was narrow, mixed and pretty lackluster; it acted like it wanted to pull back again but nothing really happened. We chopped sideways for a half-hour yesterday before we popped, then I found some good shorts and made some good money. I plan to be patient and look for good setups on any pops or drops. Big drops will get bought, big pops will get sold. I am watching AIG (AIG Quote) and Immunomedics (IMMU Quote) for action this morning. IMMU is up on good trial data on its lupus drug.

No positions.

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2. Nothing Rotten in the State of Denmark
By Howard Simons
10:18 a.m. EDT

Denmark's central bank cut its base lending rate from 1.45% to 1.35%. While our first instinct might be to say, "Well, yes, Denmark's a small country, so it should move interest rates in small increments," that would be missing the point.

Denmark, like Norway, Sweden, the U.K. and a few other former Viking playgrounds, does not use the euro but can hardly escape from its influence. The krone/euro cross-rate has hovered closely around 7.45 for years.

The ECB's marginal lending rate is 1.75%. If the Danes are cutting official rates in this environment, are they signaling the ECB to go lower? Are they signaling that Denmark feels constrained by its current peg to the euro? Or, as officials hinted, are they signaling the krone is no longer under speculative pressure and they can afford to lower rates in a renormalization to pre-crisis levels?

In a low-rate world, every 10 basis points counts.

No positions.