Recession fears are mounting — but this time, stock-market investors looking for havens need to think differently. The classic playbook is to move into giant companies that make stuff people need even in bad times — medicines, consumer staples, utilities. Ditch luxury-goods and construction-equipment stocks, since there’s less demand for their products reports the Wall Street Journal.

It’s tricky to follow that advice today. Utilities, for instance, are already looking pricey as investors fled to safety in recent months. And consumer-goods makers face high energy and raw-materials costs — thanks to booming commodities prices — which could squeeze profits.

Meantime, some stocks that you would expect to take hits in a downturn, such as technology, look more like buys, especially after getting slammed in recent weeks. Charles Schwab Corp. recently started telling investors to grab tech stocks, citing in part their exposure to still-hot overseas markets.

Companies that make videogames and provide wireless data and Internet services should also hold up relatively well: They’re still seeing growth even as the economy slows, says Dan Chung of Fred Alger Management Inc.

Recently released economic data, such as the jump in the unemployment rate, are heightening fears of recession, typically defined as at least two straight quarters of negative economic growth. Economists at Goldman Sachs Group Inc. and Merrill Lynch & Co. have said a U.S. recession is in the cards.

Read it here: Classic Playbook May Not Work in This Climate