Take Profits In RIMM

I have been bullish on Research in Motion (RIMM) for a while. The stock is up 32% since I recommended buying shares of RIMM on May 21st. It has been a great trade and it will continue to be a great stock to own over the next 6 months. It would be prudent to lock in some gains.

Note: I am long RIMM

Buy Dips in the Exchanges & Brokers

The derivative exchanges remain strong buys with continued consolidation in the group. I would be buying any weakness in Nymex Holdings(NMX), Intercontinental Exchange (ICE), and the Chicago Merc (CME).

For the longer term I even think you could buy the potential acquirers today. Both the NYSE Euronext (NYX) and the Nasdsaq (NDAQ) have been discounted to do an acquisition. The NYSE trades at just 24X forward earnings while the Nasdaq only trades at 18X forward earnings.

Note: I am long NMX

Stay Long The Agriculture Stocks

Corn is approaching $4 per bushel and soybeans are again closing in on their highs. Higher commodity prices allows farmers to spend more money on new equipment, higher yielding seeds, and better fertilizers. I like Deere (DE) and Caterpillar (CAT) in the equipment space. Monsanto (MON) is the seed play. Potash (POT) and Terra Nitrogen (TNH) are my favorite fertilizer stocks. All of these companies will benefit from increased agricultural spending over the next 12-18 months.

Note: I am long TNH