Hanging onto the RIMM

Oh boy, tough one to part with -- I am talking about Top Gun Trader's decision to schnittzle -- or sell -- a little of the Research In Motion he told us to buy on Mad Money last month. It was at $59 and looking like it was done and Top Gun said, "No way," which is why I highlighted it in the Sell Block tonight.

But I have to tell you, I don't want to sell it. I think we are in one of those moments where there's room for all of the smart phones and that RIMM still has momentum. It is true that if you go to an AT&T (T - commentary - Trade Now) Wireless store you are going to see nothing but iPhones and if you hear Verizon's Ivan Seidenberg talking about the Pre from Palm (PALM - commentary - Trade Now) you would think he was dropping RIMM. But sales remain red-hot and I am still hearing good things about the quarter.

Then again, I like to be on Rick Bensignor's good side. He recommended Bank of America (BAC - commentary - Trade Now) at $3 on the show, RIMM at $59 and said Yum! Brands (YUM - commentary - Trade Now) and General Mills (GIS - commentary - Trade Now) weren't going anywhere -- unfortunately for my holdings in Action Alerts PLUS, they haven't.

In other words, I am feeling greedy.

But I am going to continue to recommend RIMM here and on my show until I actually have a data point that says we are finally in the mode where Nokia (NOK - commentary - Trade Now), Motorola (MOT - commentary - Trade Now), LG and Ericsson (ERIC - commentary - Trade Now) wiped each other out.

We aren't there yet.

Random musings: Congrats to Mickey Drexler and J Crew (JCG - commentary - Trade Now), which remains one of my favorite retailers and retail stocks... The volume in this Peregrine (PRGN - commentary - Trade Now) fascinates. The speculative biotech names that Adam Feuerstein recommends are hot as a pistol.

At the time of publication, Cramer was long General Mills and Yum! Brands.

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Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

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