An analysis of selected WSJ defensive plays

Citigroup (NYSE: C): The diversified retail/investment banking giant still must do more to cut costs. Technically, C may have formed a bottom, but investors should consider waiting until C trades continually above $48 - above its 50-day moving average - before purchasing shares.

Diageo (NYSE: DEO), A well-positioned distiller/beverage company, DEO's chart is solid, but investors should consider waiting for DEO to clear resistance at $88 before purchasing shares.

Genentech (NYSE: DNA): Analysts project solid earnings growth for DNA, and the stock appears to have bottomed around $71 about a month ago.

Hess Corp. (NYSE: HES) Has kept costs under control while benefiting from oil's elevated price and the barely-adequate refinery infrastructure in the U.S. HES's chart is solid with the stock hitting a high for 2007 above $69 in the last few weeks.

Lockheed Martin (NYSE: LMT) Will continue to benefit from large U.S. Department of Defense contract work. Meanwhile, LMT's chart recently broke out of $93-$98 trading range, trading once again above $100.

Microsoft Corp. (NASDAQ: MSFT) Has the products and resources to weather any potential recession storm, but its stock has traded in a $27- $32 for about 9-months; MSFT currently trades in the middle of that range, hence investors should take note of any prolonged failure to move and stay above $32 in the months ahead.

Sempra Energy (NYSE: SRE), a utilities play currently trading around $58.70, SRE's stock corrected with the market this summer but has recently cleared its 50-day moving average.

Sigma-Aldrich Corp. (NASDAQ: SIAL), a solid chemical manufacturing play, investors should let SIAL clear resistance at $50 before considering a share purchase.

Walgreen (NYSE: WAG), drug stores usually perform adequately during downturns but investors should consider waiting until the stock clears resistance at $48 before purchasing shares.