Many investors have fled risky securities in recent months for the safe haven of Treasury bonds.

But Bob Doll, the chief equity investment officer for big-time money manager BlackRock, says the time for that strategy has passed.

“This is a time to be dollar-cost-averaging out of safe assets — like cash and Treasuries — into more risk assets — equities and corporate bonds,” he told CNBC.

“We think the worst of the recession is in the rear view mirror, and the market is in a bottoming process.”

Even after the 28 percent surge by the Standard & Poor’s 500 Index from its March 6 low, the index still stands 45 percent below its Oct. 9, 2007 record high.

And when the recent history of a market is at its worst, that’s generally the time to get in, Doll points out.

"We still think a diversified portfolio makes sense," he says. "Our favorite cyclical sector (is) energy; favorite growth sector, technology; and favorite defensive sector, healthcare."

Among Doll’s favorite names:

• For pharmaceuticals: Johnson & Johnson, Eli Lilly, Pfizer.

• For health care services: UnitedHealth Group, Wellpoint, Aetna.

• For technology: "Some of the big broad multinationals like IBM can be added, especially on weakness," he says.

• Energy: Conoco, Marathon, Chevron, Exxon Mobil.

Others also are bullish on stocks too, thanks largely to positive earnings news.

“This was a really, really positive start to the earnings season,” Hugh Johnson of Johnson Illington Advisors tells Bloomberg.