When is the last time you stopped drinking water because the economy started to slow? You probably drank more beer, but beer is mostly water-based. Water stocks are about as defensive as they come. In today's frothy market, adding a few defensive names to your portfolio is not a bad idea. My charting shows that in terms of relative strength the worst is over for Southwest Water (NASDAQ: SWWC), and it should finally start to move up from here.