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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By Jim Gulbrandsen
3:38 p.m. EST
"Insanity: doing the same thing over and over again and expecting different results. " - Einstein.
If you are highly confident your favorite company is going to beat estimates, why would you buy it in front of earnings? The reaction to earnings "beats" has been to sell the news this season. Why should
or any other stock be anything different? Then again, the patient we are dealing with (a kind fellow named Mr. Market) is insane in the first place...
We are seeing this in Brazil as well, where with few exceptions, good news is not good enough.
2. Interesting morning
By Timothy Collins
12:27 p.m. EST
I was worried that a gap up would see a fade this morning, and that is precisely what happened. Now the question is, do we have more caught-buying-the-gap-up, or more folks-caught-shorting-the-fade now that we seemed to have found a bottom? Not that I am overly bullish, but every newsletter, pundit, email, and any other correspondence over this weekend was bearish. They spoke of technical breakdowns, here comes the big correction, time to short, etc., but I still harken back to my
VIX post on Friday, and the market's past reactions to such a move. That pattern has repeated -- not once, not twice, not thrice -- but four times in a row. So, until it is broken, I will respect that. Currently, that respect means not jumping on the long wagon, but I am not taking any short positions here. I will look to earnings, and I will lean bullish, if we get any momentum here.
3. Morning News
By Tim Melvin
10:51 a.m. EST
If I am even vaguely correct that jobs and real estate are the keys to a real recovery, today's headlines do not bode well. The housing sales report was a disaster. It was the largest percentage drop in existing-home sales in 40 years. The tax credit appears to have brought forward some housing demand but did not create a lot of new buyers, as I originally suggested. The lack of demand coupled with what I see as a troubling amount of shadow inventory could lead to some further price declines over the next few months.
The next headline I saw when I finally fixed my server problem this morning was that
was cutting more than 11,000 jobs at its Sam's Club. Neither of my two keys appears to be turning positive.
By Timothy Collins
10:15 a.m. EST
I'm not sure whether I'm more impressed or annoyed by
Green Mountain Coffee Roasters's
ability to stay up during this market downturn, but I do have to respect it. I reduced my Feb 80-65 put position by selling more at 4.60 (paid 4.25). I guess I can't be too annoyed, since the trade is still showing a profit.
Position: Short GMCR via Feb puts
5. Oil Futures/HBAN
By Jim Cramer
9:56 a.m. EST
This market is trading tick by tick with oil. If oil can break above $75, we should get another leg up. Meanwhile, my favorite bank stock coming out of earnings so far is
looks very good, too,
This article was written by a staff member of RealMoney.com.