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. Dubai World Hurts Middle East ETFs

By Don Dion
7:58 a.m. EST

From Florida to Dubai, the bursting of the real estate bubble continues to put pressure on the financial markets. The two ETFs that will feel the impact today are WisdomTree Middle East(GULF Quote) and Market Vectors Gulf States(MES Quote). These two lightly traded ETFs should be avoided as the oil-rich region sorts out its "oil-poor" member's debt restructuring. I expect that the sheiks will work through their real estate collapse as we have done in the U.S., but the headlines will put pressure on these two Middle East ETFs for some time.

Positions: None

2. Is Dubai the Next Catalyst?

By Sham Gad
8:12 a.m. EST

Pimco's Mohammed El-Erian is on CNBC suggesting that Dubai's potential debt default may lead to a repricing of assets -- all assets, debt and equity. This rally has been indiscriminate with regard to share price increases. And as usual, prices overshoot on the way up and undershoot on the way down. If one can keep emotions in check, the next few days, weeks or months could again create some attractive opportunities. Today will be interesting, since a lot of investors are off for the holiday. What will happen next week should be more indicative of how Mr. Market really feels about Dubai's situation.