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. Dendreon Shares Rise on Hoax Press Release
By Adam Feuerstein
9:59 a.m. EDT Dendreon ( DNDN) shenanigans: Yesterday at 12:56 p.m., someone posted a phony press release on the company's InvestorVillage.com message board claiming that the FDA granted "fast track" status to Dendreon's prostate cancer drug Provenge. The phony press release was dated May 6, 2009. The date stamp one day in the future was a quick tipoff that this was a hoax press release, as was the fact that FDA granted Provenge fast track status in 2005. Still, the fake got the job done for whoever posted it. Dendreon's stock price went from $21.83 to $22.33 in a bit more than an hour after the fake press release was posted to the IV message board -- more than enough for a quick trade. No positions
2. Closed-End Funds: Fewer Big Discount Plays
By David Sterman
10:25 a.m. EDT The recent rally has been especially strong for a number of closed-end funds that were trading at big discounts to NAV. But you can still find funds that sport double-digit discounts, especially on the international front. Right now I'm looking at Morgan Stanley Asia Pacific ( APF) and Central Europe and Russia Fund ( CEE), trading at discounts to NAV of 16% and 12%, respectively. The longer that our market can maintain this new stability, the more that risk appetite will increase for foreign exposure. No positions
5/6/2009 10:46 AM EDT 3. Gold: Inflation Trade Back On?
By Eric Jackson
10:46 a.m. EDT Interesting to see the gold trade come back on this morning, with this fresh new evidence of health and stability in the long-term economy. It won't take long for commentators to start turning their attention to inflation and how long Bernanke keeps the spigot open on monetary policy. That's good news for gold and the miners who are all up today. I personally like the miners as having potentially more upside than the hard commodity (although I think the trade is still early). My favorite miners from a valuation perspective are Yamana ( AUY), Eldorado ( EGO) and a little-known company called Aurizon Mines ( AZK). A spec play, because they have no revenue yet and trade high and low on movements in the price of gold, is Seabridge ( SA). No positions
4. Bought XL
By Scott Rothbort
11:45 a.m. EDT I bought some XL Capital ( XL). Please note that there has been some fairly consistent marks on close buy orders in the name recently. Long XL
5. Plantronics Continues to Mount Higher
By Gary Morrow
2:24 p.m. EDT Plantronics ( PLT) fourth-quarter and fiscal 2009 results released last night have sparked a powerful rally in the stock. Positive comments from CEO Ken Kannappan regarding stabilization in many parts or the company's product line are also adding fuel to today's breakout. The stock is up over 20% and is one of the top 10 percentage gainers on the NYSE at the midday mark. Volume is running heavy and is already better than double the daily average.
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