I like a market up on weak-dollar job-cutters as much as anyone and am gratified to see 3M (MMM) and United Tech (UTX) ramping.

CAT is like a bunch of companies, including Joy Global (JOYG) and Eaton (ETN) and United Technologies (UTX), that give people exposure to the obvious turning in the world's economy -- obvious to everyone except just about everyone on this site. The strength in Eaton alone shows you how much the market will embrace anything positive here. The reaction to a simple upgrade of Joy Global by RBS shows you the intensity of the animal spirits.

Buy under 50

But so will Caterpillar (CAT) and United Tech (UTX) and Freeport (FCX), so do we need this one? Not when you have an Apple, which is secular growth mode without the business cycle or the consumer cycle, and will only get better on both.

Does anyone really think that United Tech (UTX) or 3M or Caterpillar (CAT) has a handle on the future?

best in 4 categories now basing

In the space I’ve got my eye on United Technologies (UTX), says Guy Adami. But I only like it around $50. Here it’s too rich.

The Dow got a lift Thursday from United Technologies (UTX) after CFO Gregory J. Hayes said order rates had stabilized over the past six weeks, albeit at a low rate. The aerospace and building-services giant also is seeing early signs of a recovery in China. Hayes added that while the company will keep cutting costs, its dividend, paid since 1936 and hiked for 15 straight years, is "sacrosanct."

The second boost came from United Technologies (UTX). Here's a company that really put it on the line, point-blank, saying when pressed that it wasn't just a slowing in the rate of the decline, but an actual cessation of the decline and a stability-linked month. That's huge given that raw costs are coming down and headcount has been reduced. If the dollar doesn't go up (50% of the business is overseas) you can see a nice second half developing, particularly in helicopters and fire safety. If Boeing's (BA) actually going to be shipping new airplanes, you are going to see numbers go up, not down, so the move made a ton of sense.

"Instead, though, we see profits -- profits like those just reported by Du Pont (DD), which put up a number that simply wasn't that bad. That's the best way to describe it: not bad. Same with United Tech (UTX). Not bad." ("'Not Bad' May Just Be Good Enough Here," 4-21-09)

Bought at the wrong time

With a new President will be new spending habits and I doubt that they will put as much money into military contracts. Yes they also sell to civilians, but I think with gas prices and the threat of a recession in the US, the foreign market will not pick up the purchasing slack in the short term. They will be back.

Growth

WEAKNESS