Portfolio Manager: 'Very Brisk Rally' is Coming

"We think the economy probably bottomed in January," David Magee told CNBC. "We look at the quality spreads and the bond market, we see the default risks have fallen, and with that, we think that the economy's getting back on its feet."

The principal and portfolio manager of Magee Thomson Investment Partners is now waiting for some confirmation — but he's not waiting to recommend some stocks.

"We think you have the potential for a very brisk rally in the market," he said. "We think this could be happening at any time."


So what about naming some names?

"We like the value retailer area," he said. "We like O'Reilly (Automotive); we like Kohl's, because they can take share, with competitors going under."

Magee also likes semiconductors.

"We think the estimates there have been washed out, and we think a year from now the fundamentals will certainly be better than they are now," he said. "We like Altera, for example."


Disclosure information for David Magee was not immediately available.