INVESTING: It’s time to put together list of stocks to purchase

I’m sure you’ve noticed by now that the stock market is having a few problems.

Your statements are getting a little harder to open, and it’s a little more difficult to stay interested in potential investments. I hear from some people, though, who haven’t lost all of their money yet, and they want to know what and when they should buy. My answer is the same as it has been since late September: nothing and not yet. But at this stage, it’s worth getting a list together. At some point, this market will bottom, and we want to make sure you get the most out of that rare opportunity.

Big name, popular stocks attract a lot of attention when things are going well and when times get tough. Typically, more money can be made buying stocks when times are tough, but you have to make sure you are buying near the ultimate low. Yahoo during the tech crash is a great example of timing. The stock topped at $110 in early 2000, then quickly fell to $55. A lot of people said to buy it there. Then it fell to $25 and even more people said buy. In 2002, Yahoo fell to $12, and there were still people saying buy, but not as many. Then the stock finally bottomed at $6, and no one said buy.

But here is the critical point. More than five years after the stock bottomed, it’s trading for $23. So, there were only two spots worth buying, and obviously $6 was better than $12.

Since August, I have been hearing the same sentiments about Citibank-that it’s time to buy. But I think Yahoo’s cautionary lesson applies here.

For starters, Citibank is not what I would call a quality company. Despite being around forever, the company seems to be perpetually involved in every crisis that comes around. It simply benefits from the too-big-to-fail syndrome. I would rather use this bear market to buy quality at a discount. I’m talking about firms such as IBM, though with the stock hovering near a 52-week high, it’s clearly not selling at a discount. Fortunes can be made buying great stuff at even better prices. This bear market will continue to pound away until even the best merchandise can be had for pennies on the dollar. Below are a few companies that make sense and the prices they need to hit to make them steals.

I’ve always admired Intel. The good news is Intel is not immune to the global slowdown, with sales slowing the last three quarters to single-digit status. The stock has pulled back since the fourth quarter, but it should continue to slip the rest of this year as demand continues to drop. Twentythree dollars doesn’t make a lot of sense, but $15 does. Keep a close eye on this stock in September.

Another manufacturing giant that holds a commanding market position is Boeing. The stock is down 30 percent from its high. The stock, which trades for $74, might fall to $60 by the end of this year.

The last stock for today is News Corp., which looks decent because it’s getting cheap. It’s now selling for $18, but could fall to $12 before this bear market ends.