I'm currently working on the February issue of Blue Chip Growth which will be posted for all subscribers on Tuesday. I'm going to have four new buys plus two sells.

In the issue, I explain that the U.S. economy is sliding into a recession. We're not there yet, but things are heading that way. The ultimate fate of the economy falls in the lap of the Federal Reserve.

The credit crisis has put the economy into some really hot water. Big states like California, Florida and Michigan already appear to be in a recession. In December, unemployment rose from 4.7% to 5%. Since 1949, anytime the unemployment rate has risen 0.3% in a month, a recession has ensued.

Today there was more bad economic news:

A closely watched index of future economic activity dropped for a third straight month in December, implying growth will remain sluggish and faces rising risks of weakening, the Conference Board said on Friday.

The business research group said its Index of Leading Economic Indicators fell 0.2 percent in December after drops of 0.4 percent in November and 0.7 percent in October.

Wall Street economists surveyed by Reuters had expected a slightly smaller 0.1 percent decline in December.

In the issue, I explain why we our Buy List should continue to do well regardless of the broader market.