3 Red-Hot Investments -- Sun, Food, Water

Despite the fact that Congress seems to be doing its best to wreck the economy, I'm still bullish on stocks for the rest of the year. Pullbacks should be bought. Here are three I like.

Let's start with solar. On September 5, I explained why I liked solar in my post, "If I Had to Bet on One Resource Right Now." Since then, the leading solar ETF, Guggenheim Solar (TAN), has marched higher by 27% ...

(Updated chart)

My initial target on TAN is $44. It may go higher, but we'll see.

I also like the PowerShares DB Agriculture (DBA) ...

(updated chart)

I like this despite the fact that the USDA forecasts a significant global grain surplus for the current year. Not everyone is as fortunate as America; we are the OPEC of grain.

As a result, U.S. exports of major grains, wheat, corn, soybeans, etc., will rise in the 2013-14 crop year by more than 700 million tons, or more than 20%. U.S. agricultural exports in 2013 are estimated by the USDA to have been a record $140 billion.

Also, there's the fact that despite the log-jam in Washington, Democrats and Republicans can both agree on farm subsidies and oil & gas subsidies (most of the time).

Wall Street money is rotating into DBA. As they say on the street, "follow the money." 

Finally, I like water, in the form of the PowerShares Global Water Portfolio (PIO).

(Updated chart)

PIO invests its assets in companies in the global water industry that create products designed to conserve and purify water for homes, businesses and industries. The demand for water is only getting more dire, and old water systems are being replaced with new, more expensive versions.  That points to long-term profits for the companies tracked by PIO.

If it can break out through overhead resistance, I see a quick move to $24.  We'll see what happens then.

I mention these three because natural resource investors seem fixated on gold. I have made a strong case for gold trending lower in the short term. Therefore, you might want to look elsewhere, if you like natural resources.

If you have a broader investing scope, the strongest index right now is the Nasdaq-100, tracked by the Powershares QQQ Trust (QQQ).  Make of that what you will.

Opportunities abound, even in markets as weird as this one. When the markets pull back, have some buying targets in mind.

I'm not your investment adviser. These are not official recommendations. Do your own due diligence before buying anything.