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Big Upside in Insurers
By Doug Kass
06/19/09 6:36 a.m.
Deutsche Bank is out with a report on
stating that the shares could double in the next year. From my perch, the entire specialty/life finance sector holds huge upside based on a return to economic/credit stability. As I have recently written, Hartford,
, etc. represent my largest sector exposure in my hedge funds.
Long HIG, PRU, MET, LNC
General Electric: Prospects Growing Dimmer
By Alan Farley
06/19/09 7:48 a.m.
bottomed out at $5.73 in March, after posting the highest-volume session in its long history. The subsequent bounce lifted above the 50-day EMA but failed to reach the 200-day EMA, which made it a major underperformer during the four-month rally. The stock then ground out a symmetrical triangle near $14 and broke down this week, on increased volume. The selloff carried through the 50-day EMA, with price turning the corner on Thursday and posting a bull hammer reversal.
This downdraft likely marks the first stage in a continued decline that will eventually test the bear market low. There are a number of support levels going down, so the test might last into the late summer or early fall. In the meantime, this stock looks like a bad choice for investors and a great opportunity for short-sellers.
By Jim Cramer
06/19/09 12:50 p.m.
How hated is
can't move the needle? Didn't participate in the utility rally, despite the high yield! Disliked so much! I think a dividend boost is coming. I would hate to sell this one down here.
Citi and Bove
By Tim Melvin
The call to buy
this morning by Dick Bove is going to go down right next to his suggestion that Lehman was a takeover target last August. Citi is nothing more, in my opinion, that a pile of toxic assets that will eventually need more capital to survive. The only asset it has is its once-proud name, and that becomes more tarnished daily. They are the poster child for the credit crisis.
I can accept
as a buy or trading suggestion. I think it is rich here but there is no denying that Jamie Dimon has done it right since this mess began. How on earth you can form a rational at current level of new positions in most of these banks is beyond me.
Bond ETFs Mixed
By Tom Graff
06/19/09 1:08 p.m.
iShares iBoxx $ Invest Grade Corporate Bond
, which tracks investment grade bonds, is solidly higher today, up 0.8%. It's outperforming Treasuries, which are up about 0.25%.
iShares iBoxx $ High Yield Corporate Bond
SPDR Barclays Capital High Yield Bond
, the largest high-yield ETFs, are flat. Both were up sharply yesterday despite their NAV prices falling slightly.
Positions: Long LQD, HYG
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This article was written by a staff member of RealMoney.com.