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. The Old Warhorse of ETFs

By Don Dion
7:04 a.m. EST

The PowerShares QQQ(QQQQ Quote) ETF gives you large-cap growth weighting while augmenting your technology exposure. Also, as Jim Cramer has been pointing out over the past day, it allows you to "circle back" and pick up quality leaders like Apple(AAPL Quote) and Google(GOOG Quote), whose earnings estimates may be too low for the next few quarters. In 2009, technology has led the rally, and it is likely to continue to outperform.

Positions: Long QQQQ

2. Morning Trade

By Bob Byrne
8:35 a.m. EDT

The bulls ran right over the bears yesterday, in a manner that frustrates the heck out of volatility-seeking daytraders. There were no oscillations to be found ... just a slow and steady climb from the lower left of your chart to the upper right. For today, expect sellers to be lurking near 1091.50 and 1098.50. Any selling in the e-mini should find a strong wall of support at 1074.50.

The bulls are in charge and remain so with all trading above 1074.50. Look for traders to defend moderate/strong support at 1087.50 and target strong resistance at 1091.50. A sustained trade above 1091.50 has only one level of moderate resistance at 1094.75 before tackling strong resistance at 1098.50.