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.

TheStreet.com brings you the news all day, and with RealMoney's "Columnist Conversation," you can see how the pros are playing it on a real-time basis. Here are the top five ideas played today. To see all that RealMoney offers, click here for a free trial.

1. High-Yield ETFs Still Have Room to Run
By Don Dion
6:55 a.m. EDT

High-yield bonds have had quite a run this year. Investors are regaining some appetite for risk and are allocating some of their low-yielding assets to junk bonds. As CDs and short-term Treasuries continue to pay investors 0 to 2%, high-yield bonds could continue to provide investors with high monthly income and capital appreciation through the end of the year. An ETF that offers diversified exposure to the high-yield bond market is Barclays Capital High Yield Bond (JNK Quote). This fund is a satellite holding that I would consider buying now and selling at the beginning of 2010.

No positions.

---

2. Consumer Pullback
By Robert Marcin
10:09 a.m. EDT

This consumer confidence number is a disaster. It must reflect the ugliness on Main Street, which is missing the party on Wall Street. This represents a key political risk to the equity class underappreciated by Wall Street types.

I expect a material problem with the consumer space, especially the most overbought retail sector. I can't believe that many retail ETFs are back to 2007 levels, as if the consumption decline never happened.

The terrible unemployment, job insecurity, housing slump and credit card mess is pressuring Joe Sixpack. The profits at Goldman (GS Quote) only add insult to injury. I don't think he can borrow and spend his way out of a slump this time.

No positions.