Before, we get into the blip check out state and local government savings.

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The fall in exports to America and China at the start of the year could well turn out to be a blip.

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What now looks to be a realignment of British politics could turn out to be a blip induced by the novelty of a television debate.

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On the other hand, even if the fall or stagnation in GDP late last year does turn out to be a blip, growth in 2011 is likely to be a subdued affair.

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Everybody has been expecting a blip at some stage and when that blip comes it is how quickly you can get out of it and resurrect your season.

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That means looking for the best way to avoid the fatal blips in the slip-road traffic flow, and also finding out how to correct the consequences quickly if a blip does nevertheless slip through.

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Health care and consumer staples are starting to blip on Callahan's radar, but he bets that there will be more money to be wrung out of consumer discretionary before the time is right to switch to those other sectors.

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