2 Stocks Below $10; Sell One, Watch the Other

NEW YORK (TheStreet) -- Last month, TheStreet published my most uplifting article, Kill RIM, Burn the Corpse and Buy Speculative Nokia.

In it, I made the case for Nokia (NOK) over Research in Motion (RIMM):

As a company, Nokia failed just as horribly as RIM. It did not, however, stand stubbornly pat. Instead, it acted fast to change management, blew up the dying Symbian platform and hooked up with Microsoft to help lead the Windows Phone charge.

At the time, I suggested getting long NOK. Since then, the stock is up roughly 18%. Now is the time to take some profits while you wait and see if NOK can reestablish its recent strength.

Meantime, RIMM continues its death spiral, save the current dead cat bounce. We're all standing by waiting for the next sorry leg down.

It's really just a question of what comes crashing down first North of the Border -- the National Hockey League season, the Toronto condo market or a once-proud symbol of Canadian culture, RIM.

I love the Toronto skyline more than any other in the world, thanks in part to my allegiance to the NHL's Leafs. That skyline, however, continues to expand exponentially and irrationally.

Consider the simply astonishing numbers from a Globe and Mail story I read while vacationing in Toronto last week:

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