With the Street's 2012 EPS estimate for the S&P 500 having fallen to $106, Morgan Stanley's...

|By:, SA News Editor

With the Street's 2012 EPS estimate for the S&P 500 having fallen to $106, Morgan Stanley's Adam Parker doesn't see this month's rally as sustainable, especially given the tendency of "low quality" and "junk" names to catch a bid in January. He recommends buying defensive health care and utilities stocks.