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Stay with conservative stocks.

Feb 14 2008

This market is still not out of the woods and stocks will struggle as we go forward for some time. I still like the banks with the Fed continuing to lower rates another 1% over the next 4 months. I recently mentioned both Annaly Capital (NLY) And State Street (STT). There is a third bank that I like and that is Northern Trust (NTRS). Northern Trust has a decent revenue growth rate at 25%. The stock has not moved as much as an Annaly Capital so there is potential upside from the current levels. The dividend is 1.6%. This is more of an overall good environment for the banks and a lack of conviction in other areas.

Yesterday the REITs really moved again and Agricultural Chemicals have had good days here and there (Mosaic is the stock to own here). But I am reluctant to get involved in some of these areas until the Dow and S&P break out of their current sell chart formations. That's why I am staying with the banks and recommending Northern Trust today.

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