At MarketWatch, Peter Brimelow highlights Blue Chip Growth:

When I last checked in with Louis Navellier's Blue Chip Growth, I found the one-time wunderkind was worried. That was unusual, and a particular problem for him because traditionally he has been one of those services that eschews market timing, remaining fully invested at all times. See Jan. 17 column

Nevertheless, Navellier weathered Wall Street's horrific first quarter well. Currently, Blue Chip Growth is the 15th-best performer over the past 12 months according to the Hulbert Financial Digest, up 9.6% vs. a 2.63% decrease for the dividend-reinvested Dow Jones Wilshire 5000.

This success has been sustained. Since the HFD began following Blue Chip Growth in 1998, the letter has achieved a 12.6% annualized gain, vs. 5.2% annualized for the total return DJ-Wilshire 5000.

Although Navellier is now enthusiastic about his stocks, he's actually quite pessimistic about the U.S. economic outlook. In his most recent issue, he wrote: "This will be one of the most difficult quarters for the overall stock market, since there is overwhelming evidence that the U.S. economy slipped into a recession due to slowing business and consumer spending ..."

In a hotline after Tuesday's 400-point rally, he added: "There's a growing feeling on Wall Street that the worst of the credit crisis may be over -- however, I respectfully disagree. I don't believe that financials are out of the woods yet. These stocks will be posting continued mortgage writedowns due to rising delinquencies, and the entire housing sector will be under water until 2009, at the earliest."

Here's the entire article.