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.

Intel

By Jim Cramer
9:01 a.m. EDT Intel(INTC Quote) preannounces better-than-expected earnings! Big, especially in light of Dell(DELL Quote). Look out, Nasdaq shorters, here we go!

Positions: None

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Peaking China

By Helene Meisler
9:32 a.m. EDT

There was a time when everyone was convinced that China was going to lead us out of this, and perhaps that is still the case, but there are two observations I have with regard to China. First, as per my column this morning, it, too, peaked in early August. Second, it is now back down to that trendline. (Last night's close is not reflected in the chart below.)

Shanghai Composite Daily Source: StockCharts.comx

China had better start rallying soon, or a break of this line will take on the look of a new leg down.

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Trading With the Government

By Bob Byrne
11:52 a.m. EDT

To all the scalpers out there: If you are flipping Freddie Mac(FRE Quote), Fannie Mae(FNM Quote), CIT(CIT Quote) or any other government-backed momentum stock ... watch AIG(AIG Quote). If, and it seems like a big if these days, AIG continues to unwind, it may trickle over to the other government-backed cheapies.  

Positions: None ... but watching AIG on a lazy Friday in August in kind of fun.

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Market Action

By Christopher Grey
12:29 p.m. EDT

From my perspective, recent market action is very negative despite the continued trend up in the major indices. We're getting most of the action in a few highly speculative stocks, negative reversals, higher volume on declines than advances, hitting key resistance levels from last year, and many charts that are extended and overbought.