Stock picks and pans: BNI, ALU, CY, MOT, L, UPS, WAG, JNJ, WMT ...

After another sell-off day, investors are no doubt jittery, but at some point the market will have to find a bottom. In the meantime, many continue to build positions in stocks they deem are cheap, defensive or have the growth potential to come out of the recession strongly.

Here are some ideas from BloggingStocks contributors and around around the Web:

Johnson & Johnson (JNJ) and Procter & Gamble (PG) are two companies long touted as the best defensive plays out there. But this morning we hear that Buffett cut holdings of J&J and P&G as he turned his attention to fixed-income investments. This may be a surprising move as both stocks trade near their 52-week lows, but Doug McIntyre thinks it may be warranted since as the recession gets deeper, consumers may move toward low-priced and private label brands...