Bait Your Hook and 'Top-Fish' Tech Stocks

Falling shares are likely to keep sliding in the near-term, cautions David Sowerby -- so hold off on bottom-fishing for stocks.

Instead, the chief market analyst and portfolio manager at Loomis Sayles names stocks that will constinue to benefit from capital spending, which is still growing in some sectors desite the credit crunch.

Sowerby is overweight tech stocks, including Corning and Harris , a maker of radio components for the U.S. Department of Defense. He also recommends two plays on international industrial growth, Joy Global and United Technologies.

The analyst likes Cisco Systems and "maybe even" Texas Instruments.