Certainly not the under-$5 crowd -- Alcoa (AA), Bank of America (BAC) and Citigroup (C). Pass on ABC because you have to bet that Citigroup isn't AIG (AIG), that Alcoa isn't the old Asarco and that Bank of America can't stanch the bleeding caused by Tim Geithner's indecision, which is allowing the ProShares UltraShort Financials (SKF) to destroy the stock.

Certainly not the under-$5 crowd -- Alcoa (AA), Bank of America (BAC) and Citigroup (C). Pass on ABC because you have to bet that Citigroup isn't AIG (AIG), that Alcoa isn't the old Asarco and that Bank of America can't stanch the bleeding caused by Tim Geithner's indecision, which is allowing the ProShares UltraShort Financials (SKF) to destroy the stock.

Certainly not the under-$5 crowd -- Alcoa (AA), Bank of America (BAC) and Citigroup (C). Pass on ABC because you have to bet that Citigroup isn't AIG (AIG), that Alcoa isn't the old Asarco and that Bank of America can't stanch the bleeding caused by Tim Geithner's indecision, which is allowing the ProShares UltraShort Financials (SKF) to destroy the stock.

Certainly not the under-$5 crowd -- Alcoa (AA), Bank of America (BAC) and Citigroup (C). Pass on ABC because you have to bet that Citigroup isn't AIG (AIG), that Alcoa isn't the old Asarco and that Bank of America can't stanch the bleeding caused by Tim Geithner's indecision, which is allowing the ProShares UltraShort Financials (SKF) to destroy the stock.

Certainly not the under-$5 crowd -- Alcoa (AA), Bank of America (BAC) and Citigroup (C). Pass on ABC because you have to bet that Citigroup isn't AIG (AIG), that Alcoa isn't the old Asarco and that Bank of America can't stanch the bleeding caused by Tim Geithner's indecision, which is allowing the ProShares UltraShort Financials (SKF) to destroy the stock.

The first is interchangeable because of the price, AT&T (T) at $20 or Verizon (VZ) at $23. Why? Certainly not growth; there won't be all that much because of the recession. However, they have so much cash flow and they can slow deployment of expensive equipment -- yes, even with Verizon's FiOS -- to the point where a dividend boost will take them to about 8%, a level that Altria (MO), the best-performing stock in the S&P 100, shows can withstand the onslaught. Verizon has a tad more growth because of FiOS, but it could cut both ways in a severe slowdown as the FiOS build-out will cost them.

The first is interchangeable because of the price, AT&T (T) at $20 or Verizon (VZ) at $23. Why? Certainly not growth; there won't be all that much because of the recession. However, they have so much cash flow and they can slow deployment of expensive equipment -- yes, even with Verizon's FiOS -- to the point where a dividend boost will take them to about 8%, a level that Altria (MO), the best-performing stock in the S&P 100, shows can withstand the onslaught. Verizon has a tad more growth because of FiOS, but it could cut both ways in a severe slowdown as the FiOS build-out will cost them.

Caterpillar (CAT) at $18 is just too juicy. I think that it will be like CAT in 1985 when it sold down low on a weakened balance sheet and a war with labor. The company has much more wherewithal now. This is still the single best machinery company in the world, and I think that if you abandon it at $18 you are simply betting that things will never come back. That's a difficult bet to make because, if it has to, CAT can move the whole shebang overseas to where the markets are heating up again or recovering.