We know they can tumble. We've seen the carnage. We're afraid even to peek at our 401(k) statements. Despite last week's rally, the NASDAQ is still down more than 60% from its all-time high and off 14.4% this year. Slowing profits, lack of visibility beyond the next few months, and sympathy selling have scratched once Teflon-tough technology stocks like Cisco, Oracle and Intel. They're so cheap now, you can buy a dozen shares of each for less than the price of a laptop.
Yet even so-called defensive stocks like consumer staples have suffered in the market's tremendous slide. So how can...