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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Dish Network Breaks Out


By Gary Morrow
3:22 P.M. EDT

Dish Network ( DISH - Get Report) is up sharply following its first-quarter earnings report.

Today's 18% surge began with a powerful gap higher open that easily pushed the stock above its 200-day moving average for the first time since November 2007. Volume on this ramp is running extremely heavy and will be the heaviest positive day for the stock since late 2007.

DISH Daily (Nasdaq)
Dish Network
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TradeStation

The breakout move today continues an impressive run that Dish began in early March after a successful test of its 2008 lows. The stock spent very little time under $9.00 while bottoming out eight weeks ago. Since Dish turned higher in the second week of March, the stock has traded in a narrow channel. This rally carried the stock 80% higher prior to today's big jump.

At this point, the stock is overextended but, in the process, has left behind strong support. A light-volume pullback to the $16.25 area, the stock's 200-day moving average, would be a good spot to buy. This support area also includes the previous monthly highs of $15.50. A short-term base following a low-volume sell off would be healthy for the stock now that its current rally has more than doubled the stock's price.

No positions.

Early Afternoon Look


By Paul Rubillo
2:04 P.M. EDT

I was able to pull a quick First Solar ( FSLR) long for a fast $4 move. I had to decide whether to go long the best name on my long board or short leading contenders J.C. Penney ( JCP - Get Report) and Fortune Brands ( FO).

Now that the trade is done, I have refreshed my thoughts to see what I can find this afternoon. FedEx ( FDX - Get Report) is another short idea that still seems worth keeping on the radar as well.

I am watching recently high-beta plays PNC Bank ( PNC - Get Report) and Prudential Financial ( PRU - Get Report) for some more guidance on the financials. JPMorgan Chase ( JPM - Get Report) and American Express ( AXP - Get Report) seem to be just hanging there as buyers wait.

Capital One and Principal Financial Group ( PFG - Get Report) seem to be having the biggest share of the sellers from the companies announcing secondaries this morning. Keep an eye on these last two plays for shorting opportunities.

Amazon ( AMZN - Get Report), Priceline ( PCLN) and Apple ( AAPL - Get Report) are all attracting buyers as I watch the Nasdaq move back into the green again.

Not much selling in the Dow Chemical ( DOW), Ford ( F - Get Report), MGM Mirage ( MGM - Get Report) and Wyndham Worldwide ( WYN) "back from the brink" collection.

No positions.

Health Care Stocks Looking Good


By Alan Farley
12:29 P.M. EDT

Health care stocks have been perking up nicely in the last few sessions. It's the top-performing sector today, with a broad variety of issues moving higher.

Mindray Medical ( MR - Get Report) is an interesting sector play. The stock rallied into the 200-day moving average about a month ago and has been building a basing pattern since that time. Recent price action shows a small cup and handle pattern, with resistance at $26. A breakout over that level could trigger a strong rally into the low $30s.

Caution, though: The company reports earnings after the bell today.

No positions.

Activist Campaign Could Lead to Big Gains at Chemed


By Damien Park
11:56 A.M. EDT

Jon Heller and I recently began distributing a research product that combines the two disciplines of activist investing with deep-value company analysis in an attempt to uncover decent undervalued public companies with the potential to generate outsized returns due to an activist investor's involvement.

On Friday we issued a report for Chemed ( CHE - Get Report). RealMoney Columnist Conversation readers can access the two-page analysis here.

Brief summary: MMI Investors -- an influential dissident shareholder with 3.5% of the shares outstanding, is attempting to replace five directors on Chemed's 11-person board at the annual meeting scheduled for May 29. If successful, MMI hopes to use its influence in the board room to split the company in two.

Chemed currently operates in two distinct business segments: Vitas Healthcare ($819 million hospice care provider) and Roto-Rooter (the $341 million plumbing business everyone knows).

The central issue is not whether the businesses should be split/sold, but when. Chemed's board says it's not opposed to splitting the two businesses but wants to wait for more favorable economic conditions. MMI believes it will take six months to finalize a tax-free spinoff, so it's more than prudent to begin the process today.

MMI estimates the spinoff could potentially yield an increase in share value of approximately 40% to 75%.

No positions.

Capital One and Wells Fargo


By Timothy Collins
9:05 A.M. EDT

Capital One ( COF - Get Report) has drifted lower. If you were short on Friday, then I would not hesitate to either take some off the table, or cover yourself by buying some calls or selling some May 30, May 27 or May 26 puts against the stock.

We have exited Capital One, as well as Principal Financial Group ( PFG - Get Report) and a portion of Wells Fargo ( WFC - Get Report) just a moment ago. Capital One and Principal have now announced the secondaries we were waiting on.

Short Wells Fargo.


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This article was written by a staff member of RealMoney.com.