Consumer spending might be weak, but US corporations are investing in information technology.

The market is reading way too much into some moderation in US economic data--the indicators are far from signaling recession. This major market overreaction sets us up for an important buying opportunity over the next few months.

Although I remain relatively bullish on the economy and markets, I also recommend taking steps to recession proof your investment portfolio.

A dispassionate analysis of the data doesn’t support the conclusion that the world is headed for a double-dip recession, nor does it back up the idea that the EU’s newfound fiscal responsibility will doom the global economy. Rather, the data suggests that we’re in for a slow, grinding recovery.

Don’t buy the hype surrounding alternative energy; this sector faces severe headwinds that will only intensify as EU nations prune budgets.

With the S&P 500 near the low end of its trading range, a move to the top of that range could be in the offing.

Don’t confuse long-term risks with cyclical trends; the recent pullback is a correction, not a new bear market.

As credit markets begin to stabilize this summer and economic data remains broadly positive, I see the potential for a meaningful summer rally.

The most recent jobs report was disappointing because it comes on the heels of two strong releases. But as prior cycles have demonstrated, employment reports can be volatile on a month-to-month basis. Jobs creation is never smooth in the wake of the recession.

My basic rule is simple: When the market corrects, look to buy groups that are showing relative strength.