Banks Still Sick — So Buy Health Care

Rob Morgan of Clermont Wealth Strategies got some encouragement from President Obama's remarks about stimulus and recovery — but not enough to make him bullish on financials.

"The president teed up Treasury Secretary Geithner on Tuesday to lay out plans for this 'bad banks' situation, and have him say that insolvent banks would go under," Morgan explained to CNBC. "Those details didn't come out; we had the Dow down 380 points; and until those words are said, I think it's going to be rocky for the banking sector."

But he's not completely down on stocks.


"We like health care," he said. "We like some specific non-big-pharma names; we like Biogen Idec; we like Medtronic; we like Immucor."


Disclosure information for Rob Morgan was not immediately available.