Weekend Stock Picks

As usual, I spent time over the weekend skimming through the stock market tv shows like Bulls & Bears, Wall Street Week with Fortune, Louis Rukeyser, and others. The common perception that I gained is that most "experts" believe we are headed higher after a little bit of profit taking. Some suggested a 5-10% correction, and then new highs by the end of 2003. We'll see if that game plan unfolds.

Also, some of the more notable stocks many of these experts recommended include ASML (ASML), Calpine (CPN), Delphi (DPH), Sysco (SYY), Wells Fargo (WFC), Bank of America (BAC), Amgen (AMGN), United Healthcare (UNH), MetLife (MET), Estee Lauder (EL), Willis Group (WSH), Lockheed Martin (LMT), Alliant Energy (LNT), Express Scripts (ESRX), and Pacificare Health (PHS).

What I find interesting about this list is that most of these gurus are shying away from the very stocks that have enjoyed very nice gains so far - namely the high-beta tech and small cap stocks. The second thing notable is that each of these stocks are positioned to do quite well as the economy turns and certain government regulation is passed. For example, the healthcare stocks will benefit if Bush gets his drug plans approved by Congress.

However, if I were asked which stocks I like the most out of this list, I'd have to say that among these picks, I favor the following the most: ASML (ASML), Delphi (DPH), and Sysco (SYY). But, I'd also add that I'd probably wait for a healthy correction before putting my money on any of these three stocks and that each of these will require a fair amount of patience - they are probably suitable for long-term holds than short-term trades. Here are their charts: