How should you invest $10,000 in the coming year? The question was posed to some of Wall Street's most respected seers by syndicated columnist Andrew Leckey, whose Successful Investing column appears in over 150 newspapers.

Here, courtesy of The Bull & Bear Financial Report, 9 leading Wall Street experts -- Elaine Garzarelli, Richard Crippps, Sheldon Jacobs, Don Phillips, Richard Yamarone, High Johnson, Mark Johannessen, Curt Weil, and Paul Nolte -- offer their answers to the $10,000 question.

"Amid relentless volatility in 2007, every participant last December produced an increase over the past 12 months. Our pundits for a second consecutive year are spreading their bets because there are so many economic and political wild cards in the coming presidential election year.

It's no secret that financial and consumer stocks have been slammed this year. Since January, the S&P financial sector has shed 21.3% while the S&P consumer discretionary sector has lost 14.2%. That compares to a 2.2% gain in the S&P 500 index.

While it is likely far too early to call for a bottom in either group, a quick read of the technical relationship between the two sectors going back several years suggests it might nonetheless be time to bet on banks, brokers, and other financials while wagering on further weakness in the shares of companies that are most exposed to a slowdown in personal spending.

Arguably, this particular pairs-trade probably jibes with how traders are positioned and the near-term fundamental outlook. Right now, many people are afraid of what bombshell might hit the financial sector next. Yet as far as the economy goes, the majority of central bankers, analysts, and various Polyannas still seem to be expecting -- hoping -- that any slowdown we see will be mild, at worst.

In sentiment terms, at least, that suggests the former group has a decent amount of bad news priced in. In contrast, shares in the latter group could be vulnerable to downside surprises, especially given that we are now in the midst of the crucial holiday selling season.

One way to play it (depending on risk): buy the Financial Select Sector SPDR Fund (AMEX: XLF) and sell (sell-short) the Consumer Discretionary Select Sector SPDR Fund ETF (AMEX: XLY).

Michael Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes and The New Laws of the Stock Market Jungle.

Although the S&P 500 index is up 7.04% for the year (through yesterday's close), consumer-related shares have not kept pace.

For instance, the consumer discretionary sector (which has an equivalent exchange-traded fund, or ETF (AMEX: XLP)), has gained just 1.07% since the end of December, a difference of more than six percentage points. Given the meltdowns in the housing market and the subprime finance sector, the disparity is not all that surprising.

However, the consumer staples sector (which has an equivalent exchange-traded fund, or ETF (AMEX: XLY)), has also lagged the broad market. It is up 4.55% year-to-date, a performance gap of more than one-and-a-half percentage points.

Despite reassurances to the contrary from economists, pundits, and policymakers, it would seem that investors are anticipating an across-the-board slowdown in consumer spending.

Michael Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes and The New Laws of the Stock Market Jungle: An Insider's Guide to Successful Investing in a Changing World.