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"We are moving headlong into oil," notes John Reese, who analyzes stocks based on the criteria used by "legendary" investors such as Buffett, Graham and Lynch.

In his Validea newsletter, he says, "My fundamental models indicate that the oil industry is where the best values in the market are." Here's a look at W&T Offshore (NYSE: WTI), which is based on the criteria used by contrarian David Dreman.

"The economy and stock market have gone through a legitimate crisis because of the credit woes, and it takes time for something like that to work itself out.

"But the important thing to remember is that we've been through financial crises before -- even bad-debt financial crises like this one -- and the market has always stabilized and then pushed higher.

"And history has shown that those who can stick with the stock market through down times like these will be rewarded.

"David Dreman -- one of the gurus I base my strategies on -- notes in his recent Forbes column, 'If you pack up now, chances are you'll miss a good part of the next bull market. A large part of the gains are always made in the first few months of one, when market-timing investors are still on the sidelines.'

"Home prices are becoming affordable again, so the decline in prices is likely more than half over," say Dr. Marvin Appel and Gerald Appel of Systems & Forecasts.

Meanwhile, the technical experts believe that long-term investors can now look to get back into the real estate investment market and recommend two ETFs that are based on rental REITs.

"Many analysts do not expect the financial markets to improve significantly until home prices stop falling. The pace of existing home sales remains low, and available inventory relatively high, both indicating that buyers are not yet able to step into the market at current prices.

"However, that could change within a year. Home prices are becoming affordable again, so the decline in prices is likely more than half over.

"The median home price is now more affordable to the median household than at any time since the start of 2004. My analysis suggests that housing prices will have to fall a bit more, but the housing market is not far from being reasonably valued for the first time in five years.

"Recent valuations in financial stocks suggest either 'the world is coming to an end' or there are some great values," says Gregory Dorsey.

Here, the contributing editor to the top-notch Leeb's Income Performance Letter takes a look at one such "bargain" in the sector: U.S. Bancorp (NYSE: USB).

"So far, the financial sector has written off more than $300 million in assets. By some accounts the damage will rise to $1 trillion or more before all is said and done.

"The selloff, which at its nadir was marked by a 55% year-over-year decline in the KBW Index, pushed the constituent members down to a collective 0.64 times book value and a dividend yield of 9%.

"At those levels, either the world is coming to an end or there are tremendous bargains for investors with the courage of their convictions. Looking hard at the data, we can only conclude the latter is the case, provided you're careful with your investment choices.

"We've looked at several ways to play anticipated growth in wind energy; we've also considered titanium makers for that industry's ties to the production of lightweight, modern aircraft," notes Bill Martin.

In his BullMarket.com, he explains, "While the two trends might not appear to have much in common at first glance, Hexcel Corp. (NYSE: HXL) offers a way to play both the aircraft and wind markets.

"The connection is the lightweight, composite materials Hexcel makes that are used by producers in both sectors. Hexcel develops and manufactures advanced structural materials.

"It is the largest U.S. producer of carbon fiber; the world's largest weaver of reinforcement fabrics; and the number-one producer of composite materials.

"Its product was initially developed for the aerospace industry, but is now used in a wide range of applications -- from golf clubs to satellite arrays, and from the rotor blades of wind turbines to life-saving monocoques for Formula 1 race cars.

"It's been a rollercoaster ride for Hexcel's stock in the past 12 months. The shares hit their one-year peak of $27.19 in December 2007; by January 22nd they had plummeted to $17.. The shares rebounded through May, only to fade again. Year to date, HXL is off about 15%.

"If you want to buy a great company dirt cheap, think Biogen Idec (NASDAQ: BIIB)," says biotech expert Michael Shulman. Here's an update from ChangeWave Biotech Investor.

"Biogen recently got hammered on 'bad' news that wasn't actually so bad. BIIB and partner Elan (NYSE: ELN) reported that two MS patients, out of 31,800 currently receiving Tysabri, developed a rare brain malady called PML.

"It's important to note, here, that the two companies had predicted that one in 1000 cases could develop PML and the FDA let the drug come to market with this understanding with a strong set of patient warnings and physician follow up.

"Tysabri has succeeded in the marketplace because it is a superior treatment for MS -- and the patients who use it agree, despite its high cost of $30,000 per year. I expect only a very small drop off in market acceptance for Tysabri and when it becomes apparent the drug is still desired by patients and doctors, the stock should rebound significantly.

"BIIB is still targeting 100,000 patients by 2010 and that would translate into $1 billion per quarter in sales.The two cases of PML cut the stock by almost 30% -- and that's ridiculous. It's simply too big a move for a cash-rich, risk-free company with several major drugs -- especially Rituxan which is taking more market share every quarter.

"Biogen Idec also has the ability to add new products through licensing or direct acquisition, and I expect it to do so in the coming quarters. This temporary downturn is a godsend for investors! BIIB is now selling well below the valuations of other large-cap, double-digit biotech growers. Take advantage of this mistake before the Street wakes up."

Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.

"Don't sell commodities; although they have been in a bruising correction, they can also recover quite sharply," says resource expert Eric Roseman .

In his Commodity Trend Alert, the advisor adds, "And I can't think of a more undervalued gold mining company than South Africa's AngloGold Ashanti (NYSE: AU)."

"The forces of inflation and deflation are now fighting each other for the first time since 2001 and ultimately, inflation will win. For the Fed and other central banks the strategy is to rescue the global financial system from the economic abyss or deflation; that means print credit like there's no tomorrow.

"For the Fed and other central banks the strategy is to rescue the global financial system from the economic abyss or deflation; that means print credit like there's no tomorrow.

"The Fed, the ECB, the Bank of Japan and their international buddies are going to accelerate the expansion of credit to avoid a devastating deflation. Thus, I'm betting on inflation. I'm also betting on gold, my gold stocks.

"With $37.2 billion in revenues in 2007, Kraft Foods (NYSE: KFT) is the largest food manufacturer in the U.S. and second-largest worldwide," notes leading turnaround stock expert George Putnam.

The editor of The Turnaround Letter explains, "New management has begun to shake things up and the turnaround program is well underway." Here's the advisor's review.

"The roots of some of Kraft's products reach all the way back to 1767, but it wasn't until 1903 that James L. Kraft started his wholesale cheese business from a horse drawn wagon in Chicago. Today, Kraft produces many of the best-known food brands in the world.

"In 1988, Philip Morris (renamed Altria) purchased Kraft, and in 2000 it integrated the purchase of Nabisco into Kraft. Altria sold a small stake to the public in 2001, but maintained majority control until 2007, when the company was completely spun off as an independent company once again.

"Under the Altria umbrella, Kraft stagnated, with declining revenues and little product innovation. As a result, the stock price today is within $1 of the price where it was when first sold to the public in mid-2001.

"New management has begun to shake things up at Kraft. In June 2006, veteran food executive Irene Rosenfeld became CEO, returning to Kraft from a stint at Pepsico running its Frito-Lay division.

"Our 'Forecasts Focus List' contains only two energy stocks, both of which are in the oil services sector: Oceaneering International (NYSE: OII) and Transocean (NYSE: RIG)," says blue chip advisor Richard Moroney.

The editor of Dow Theory Forecasts says, "While stocks in the equipment and services group tend to move with oil prices in the near term, their profits depend more on exploration spending than on commodity prices."

"Concerns about slowing demand for crude oil and re?ned products both in the U.S. and overseas have many investors worried. But investors in the equipment and services group should not panic.

"Most producers continue to spend aggressively. And U.S. crude-oil inventories remain well below the average for this time of year, with fewer than 20 days of supply in storage.

"Demand for offshore-drilling services remains strong, giving Transocean excellent growth potential. Consensus estimates project per-share profits will rise 69% in 2008 and 15% in 2009. Transocean, the world's largest offshore drilling contractor, operates in every major drilling region.

"A combination of tight global rig supplies and the ongoing discovery of new offshore reserves have driven rig lease rates higher and kept Transocean's fleet busy. The company's largest, most expensive rigs are 95% sold out for 2009, and the backlog is growing.

"Whenever anyone asks, 'Why invest in China?' the answer is very simple: that's where the money is, and it's where exponential future economic growth is also," says Jim Trippon.

The editor of The China Stock Digest then asks, "Will China suffers an Oympic hangover?" Here, he explains why that should not happen and offers a look at China Mobile (NYSE: CHL), which he calls the "top dog" in the Chinese wireless sector.

"The Bank of China (BOC) conducted a study of the effects of 12 Olympiads on their host countries over the course of 60 years. They found that nine of the twelve Olympic host countries suffered a decline in GDP growth in the eight years after the games.

"The key to a post Olympic slump is the size of the economy. Smaller economies like Korea suffered larger downturns after the games, while larger economies like the United States were not affected at all. In smaller economies the enormous investment dedicated to staging Olympic games created an artificial bubble which was followed by a slump when Olympic building booms came to an end.

"China has made one of the largest investments ever in the Olympic Games with some estimates of spending topping $40 billion. But we don't believe the capital city will go into a slump after the games.

"WuXi PharmaTech (Cayman) Inc. (NYSE: WX) provides laboratory and manufacturing services for the drug and medical device R&D process," notes China stock specialist Jim Trippon.

In his The China Stock Digest, he explains, "Because Chinese researchers receive much smaller paychecks than their Western counterparts, Shanghai-based WuXi is able to lower the cost of this research." Here's his review.

"We have often heard major Western pharmaceutical companies complain of the extraordinary cost of discovering and developing drugs.

"More costly than the laboratory infrastructure is the burden of paying for armies of highly trained, highly paid chemists, researchers, analysts and physicians. WuXi has become the secret weapon of many big name global pharmaceutical companies.

"China educates tens of thousands of engineers, chemists and technologists, and outsourcing that expertise has become a growth industry. WuXi became a leader in this trend in 2000 and has gone on to attract an impressive roster of clients.

"The firm's senior management team consists of Ph.D.s and MBAs with experience in drug and medical device R&D. Wuxi management has more than 200 patents pending or granted, and has published more than 800 scientific publications.

"Around the globe, wind-generating capacity has been expanding at a rapid 30% clip in recent years," notes value investor Nathan Slaughter, who adds, "And 2008 is already shaping up to be even better."

The editor of Half-Priced Stocks looks at industrial product firm Trinity Industries (NYSE: TRN), explaining, "The company's most promising division is involved in the production of structural wind towers." Here's the advisor's of the latest addition to his "deep-discount' model portfolio.

"Led by states such as Texas and California, wind farms around the country will generate almost 50 billion kilowatt hours of electricity this year. Of course, the U.S. is still playing catch-up with many other regions.

"In fact, countries such as Spain, Portugal and Denmark all rely on wind farms for as much as one-quarter of their total power needs. Across Europe, wind turbines will account for roughly one-third of all new generating capacity installed over the next few years and could provide electricity for 90 million people by 2010.

"The outlook is even brighter in many booming, energy-hungry Asian markets. In China, installed wind power capacity surged +130% last year and will reportedly supply a great deal of the electricity needed for the upcoming 2008 Beijing Olympic Games.

"Thanks to the great strides in engineering, wind turbine output has increased by a factor of ten (or higher in some cases) over the past decade.

"As a discount broker, Charles Schwab Corp. (NASDAQ: SCHW) makes money on every transaction it does for its clients," says Horatio Marquez.

"The contributing editor to the industry-leading The Money Map Reporter explains, "For Schwab, it doesn't matter whether the market goes up or down. It's just matters that the market keeps on chugging along."

"Investing in Schwab is like betting with the casino, and not the gambler. And those kinds of odds I'll take any day. Fact is, all that matters is that stock and options traders keep 'plying their trade.'

"And well they have. Increased trading activity helped Schwab post better results for the last quarter. And that trading surge has continued into July, with average daily trades to date already 7.9% higher than in June.

"Moreover, the growth in the individual investing sector is huge. You see, companies are increasingly putting the responsibility for retirement planning back on their employees.

"So as baby boomers retire en masse and incrasingly get more involved in the management of their own investment accounts, they have to find someplace to turn for sound investment advice.

"Their market share has grown by leaps and bounds – today Schwab is the largest discount broker in the United States – and is the No. 1 provider of online trading services. That dominance should continue well into the future.

"Stericycle (NASDAQ SRCL) is a near-monopoly in an essential but unglamorous area, making its an excellent investment in an uncertain economy," says growth stock expert Dave Dyer.

In his Dave Dyer's Newsletter, he states, "If you have something that is dangerous, contaminated, or nasty, and you want it to go away safely, you can rely on SRCL, the leader in medical waste."

"I first recommended the stock almost a year ago, but there is so much good news that I thought this would be a good time to recommend it again.

"And while the stock's 12.4% gain since last August is not spectacular, the S&P 500 is down 14.1% over the same time period -- so SRCL has outperformed the market by a wide margin.

"SRCL is North America's largest provider of medical waste services. In fact, if a major customer wants to contract with a single customer for nationwide services, SRCL is the only choice. Even if the market has not really bottomed out, this is an excellent stock to consider because its business is almost entirely immune to economic cycles.

"Apple (NASDAQ: AAPL) and Research in Motion (NASDAQ: RIMM) are taking the smartphone market by storm," says Toby Smith in his ChangeWave Investing.

"AAPL and RIMM are both pushing all of the other manufactures to the sidelines. It's clear that RIMM's BlackBerry is the dominating force in the corporate smartphone market, but the Apple iPhone has shaken things up quite a bit on the consumer side.

"The combination of the new Apple model flying off the shelves, and rumors of a postponement for one of RIMM's new releases, has raised questions among some analysts as to RIMM's ability to fight back.

"Research in Motion may be planning to release several new smartphones this year, including the KickStart, the Thunder and the already announced Bold.

"I've always been a big fan of putting into the market on a regular basis regardless of what is happening in the overall market," explains Chuck Carlson, long considered one of the advisory industry's leading experts on dividend reinvestment plans.

Here, the editor of The DRIP Investor offers a 10-stock "autopilot" portfolio that is diversified among 10 high quality dividend-paying stocks and requiring a monthly investment of under $500.

Carlson says, "If I've learned anything in the more than a quarter of a century of following the markets, it is this fact - buying stocks when you know you should (i.e. during sharp down moves) is really difficult. Our heads says we should; after all, substantial market downturns create the best values.

"But our emotions usually take control, thus making it very difficult to pull the trigger and put money into the market when stocks are falling.

"That's why I've always been a big fan of 401(k) plans. With these investment vehicles, investment programs are put on 'autopilot,' with dollars being put into the market on a regular basis (usually each paycheck) regardless of what is happening in the overall market.

"Fortunately, investors can duplicate the autopilot feature of 401(k) plans with their DRIP investments by taking advantage of automatic monthly investment features provided by most DRIPs.