This past week, I sold the my remaining position in Agrium @ $110/share. Agrium, reminds me of one of my favorite John Templeton ( the Godfather of global value investing ) quotes, it goes like this:
"stocks are rarely popular and cheap at the same time"
While AGU could move a little higher, there's no way to know exactly where the "top" is - to the penny. It's currently trading at a market capitalization of $17B and 13.5X earnings and 2.5X book value. Agrium is popular.
On another note,
My recent portfolio sales and the cash from the Nexen arbitrage deal, have raised my current cash level to 14%. I wrote recently that the market has come far quite quickly ( S&P 500 up 5% already in 2013) - caution is warranted. I'll be ready to deploy cash when the market turns fearful.