Millennium Pharmaceuticals shares soared 70 percent since March -- when Friedman, Billings, Ramsey's David Khani recommended it.
So what does he have his eye on now? One engineering/construction company, one health-care company, and two energy companies, all likely to weather economic slowdowns at home -- and even overseas.
The engineering/construction company is URS.
"[It's] leveraged to the renaissance in nuclear construction," he said. "It trades at a 30 percent discount to its peers, and is positioned to raise guidance in July."
"Cephalon is our health-care company," he continued. "That is a specialty pharmaceutical company; it's pulled back nicely on expectations of one of its drugs coming off patent in 2012."
Khani says a new Cephalon drug is expected to help the stock when it comes on line.
His first energy pick is Consol Energy.
"Consol is tied into the coal story," he said. "Today, we've seen countries like Vietnam talk about stopping exports of coal; India's power plants are very short of coal and getting worse; and China, as you know, has inventory problems as well."
He also likes Core Laboratories, a provider of services related to petroleum reservoirs. The company is active in more than 50 countries.
Khani's firm acts as a market maker for securities of Cephalon and Consol Energy.