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Stocks for the Current Outlook

Stocks in this article: VZBCEPGJNJCVSGE

To me the outlook on these four key variables -- Spain, interest rates, earnings, and employment -- is more negative than positive. Accordingly, I'm advising investors to take profits when the markets are rallying.

Secondarily, look into sectors that are more defensive and impervious to sentiment. I like telecom. Verizon (VZ) just had an impressive earnings beat, and Bell Canada (BCE) has a delicious 5.40% yield. I also like consumer discretionary ( Proctor & Gamble (PG) is a favorite), and health care (we like Johnson & Johnson (JNJ) and CVS (CVS)).

As I have said before, go to the strong balance sheets and reliable revenue stream.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Oliver Pursche is President of Gary Goldberg Financial Services, a boutique money management firm located in Suffern, NY. Additionally, Mr. Pursche is the Co-Portfolio Manager for the GMG Defensive Beta Fund, and a Founding Partner of Montebello Partners, llc. In his role as President of GGFS, and as a member of the GGFS Investment Committee, Mr. Pursche helps oversee the investment portfolio of over 2000 clients with over $500 million dollars in assets. Mr. Pursche frequently provides market and economic commentary on CNBC and Fox Business News, as well as often being interviewed by The Financial Times, US News and World Report, Thomson Reuters, Bloomberg Businessweek, and the Associated Press regarding his and the firms views on the latest market news and events. Mr. Pursche's views on the market and investment strategies have been featured in the Wall Street Journal, Investors Business Daily, Smart Money, USA Today and other national business publications. In addition to writing for TheStreet.com, he is also a weekly contributor on Forbes.com and BankRate.com. His daily market commentary can be read at www.betafundcommentary.com or you can listen to him on www.financialtalkshow.com weekdays at 10:00 AM.
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