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
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
, 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.
The bears don't deserve their own paragraph. ... They need to push the e-mini through 1087.50 and keep it there. A sustained trade under 1087.50 should allow for some selling back toward moderate support at 1082.50 and 1078, but given the bid under this market, I would not expect the selling to be vicious or panicky in any way. Any sustained selling finds strong support back near 1074.50.
3. Due for a Pullback?/Stocks I Like
By Jim Cramer
8:59 a.m. EST
The "due for a pullback" crowd is all over the market today, and all I can say is that we are in a moment where the pullback would be a big gift. ... I think the
package is real interesting today. ...
from Opco is very positive. ... The
Nordic American Tanker
upgrade from JPMorgan a big deal, and I like the
4. Quality Is the Name of the Game Today
By Sham Gad
11:26 a.m. EST
I was looking through the companies included in the
index and noticed that the best names --
-- are all trading at P/E's half of the S&P forward multiple of 20. These companies represent some fantastic assets and future earnings power, but Mr. Market has continued to ignore the quality names at the expense of more inferior businesses.
How long this discrepancy will last I don't know, but it makes for some very attractive valuations at this juncture in the economic cycle.
Positions: Long KFT
5. PCLN Up $30
By Mebane Faber
11:54 a.m. EST
Longtime readers know that I am a big fan of tracking the top hedge funds through 13F filings. Today is a great example why. The Tiger Cubs Portfolio I mentioned at the end of 2008 is up over 50% year to date and owns
as one of the top holdings, according to AlphaClone.
This article was written by a staff member of RealMoney.com.