All told, Kass says it’s time to hit the buy button. Following are the sectors and stocks in which Kass suggests putting money to work. Banks: Bank of America, Citi, Goldman, BerkshireTech: Microsoft. Yahoo!. Broadcom, IntelIndustrials: Freeport McMoRan, GM, FordStaples: Clorox, P&G, Pepsi“It’s not only the price action that’s brining me back to the land of the living,” says Kass. “We may also be seeing an important reallocation out of bonds and into stocks. It could be very powerful.”

* Doug Kass is also a contributor to the Street.com, Jim Cramer’s Real Money Pro web site

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