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. Hewlett-Packard (HPQ) Breakout Possible
By Alan Farley
8:36 a.m. EST

50 is a big number for Hewlett-Packard (HPQ Quote). The stock reversed off that price level three times in 2007 and 2008. The current recovery lifted the tech giant back into the number on Monday. The intraday high for the last four sessions has come within 4 cents.

Sellers tried to take control of the stock after it issued upside guidance on Wednesday, in relation to the 3Com (COMS Quote) acquisition, but it held up relatively well on Thursday. This leads me to believe it can finally break out when the broad market and tech sector turn higher.

Annotated chart here.

No positions.

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2. Short USD/CAD Possibilities Off Trade Balance Numbers
By Marco Hague
8:52 a.m. EST

The Canadian trade balance numbers showed an increase of C$1.1 billion to print at -C$0.9 billion, compared directly with U.S. numbers, which saw the deficit increase from $30.8 billion to $36.5 billion. The forex play here would be a short USD/CAD move, which would get a boost from oil holding 76.50 support (oil being a prime instigator of Cad valuations). The moves since the 08:30 EST release have been to drop USD/CAD lower, but that move has been tempered by the oil market dropping lower at the same time.

The short play from 1.0490 will be a more comfortable ride if equity trade opens in the green, supporting the oil market and allowing for a test of 1.0400 on CAD.

No positions.