David Sowerby is seeing more and more evidence that the market bottomed out two months ago; the latest evidence, he says, was the government's report that April consumer prices went up less than expected.
Sowerby is in a buying mood, but what is he talking about buying...and not buying?
"The one caution still is, I want to see more traction take place in these 'subprime infected' stocks that have not been keeping pace in the rally," he told CNBC.
(See below for Web-Exclusive picks)
Sowerby likes Interactive Data.
"This is the pricing service for pricing things such as mortgage securities," he said. "As we seek more independent pricing in some of this toxic debt...I think you're going to see more need for somebody like Interactive Data, which is generating a tremendous amount of free cash flow yield."
He also likes Deere, with Deere's latest quarterly report sending shares plunging to bargain levels.
His other picks include MasterCard, and Rollins.
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Sowerby also likes Cisco and Alberto Culver.
Disclosure information for David Sowerby was not immediately available.