3. Hopefully some readers followed my long recommendation on soybeans! This has been one of the strongest agricultural commodity markets in the first half of 2009 and yielded some very nice profits. I recommended soybeans in the mid $800s (838.5 was the first-quarter low) and they've already powered higher into my $1200 target.

If you haven't already and are still lucky enough to be long, take some profits! I think it makes sense to rotate some profits out of soybeans here and into corn, which offers a much better risk-reward setup, as I outlined above. Nice trade!

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4. The UltraShort 20+ Year Treasury ProShares (TBTs) have continued to trade in my favor this year after getting pretty lucky and calling for a long-side shot in the mid-$30s. Even if you waited for the confirmed uptrend above $40, you're still showing a nice profit. I continue to like the TBTs here -- especially with the recent pullback to trend-line support at the 200-day moving average.

Also notice the “Golden Cross,” with the 50-day moving average crossing above the 200-day which Jeff Cooper talked about in his report regarding the S&P 500 this morning. I think yields will move higher (bonds weaker) once again later this year and the TBT will benefit nicely. Raise stops to $47.50 -- in case the government decides to take away some of our profits with more quantitative easing.

                                    
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