Without question, the events of this past week have shaken the confidence of many investors, but not all of them. Some investors are looking at the decline as opportunity.
"I think this is a great time to upgrade your portfolio. Good stocks have gone down in price, said Barry James of James Advantage Funds on CNBC's "Street Signs."
Read More US stocks mixed as volatility holds sway
If you're among those investors looking to put money to work, James as well as other pros have ideas for you. Following are stock picks presented by pros on both "Street Signs" as well as "Closing Bell."
David Nelson of Belpointe Asset Management
Avago (AVGO) —"Any chip stock that has real estate in the iPhone should do well," said Nelson on "Closing Bell." Also, he thinks the rate of growth should generate support
Union Pacific (UNP) —Nelson is bullish on UNP, in part, due to results released by rival CSX. "CSX released great numbers. The best news is that contract renewals look robust and the company pointed to robust price increases. Union Pacific is the quality play and I expect the same when they report next week," he said.
Southwest (LUV)—Although Nelson concedes that Ebola is a threat, "from what I know of the disease it seems like a very low probability you could get this while flying," he said. And he added the airline is well run and the price of fuel is decling. "Plus their business is largely domestic."
Disclosure: I own all names for funds I manage
Chris Retzler of Needham Growth Fund
Express Scripts (ESRX)—As a play on the aging population, Retzler said the company shouldn't get hit badly by the price of oil or interest rates. "Plus it's a well-run company with a great management and strong track record," he said
Clean Harbors (CLH)—"The stock has come under pressure recently due to re-refined oil pricing but it's a well-run company with significant inside ownership. I think the decline is an opportunity for long-term buyers," he said.
Air Lease (AL)—Retzler likes this stock as a broad play on airlines. "And it allows investors to avoid the risk of a single airline going into bankruptcy."
Disclosure: We own [the stocks] in the funds that we manage.
Barry James of James Advantage Funds
Kroger (KR)—On "Street Signs," James said this stock was on his radar, in part, due to its purchase of the Harris Teeter grocery chain; he thinks the M&A may provide a catalyst for correcting what he calls Kroger's undervaluation. Also James is bullish on the company's "Simple Truth" products, Kroger's generic brand, which James says should improve profit margins.
Capital One (COF)—James views Capital One as more than credit card company; rather he says it's a diversified consumer and commercial bank, too. He likes that Capital One doesn't have high overhead costs and he's also a fan of the 1.5 percent dividend.
Vectren (VVC)—"Utilities are one of the best performing sectors so far in 2014," said James. And VVC has increased its annual dividend for 54 consecutive years
Disclosure: Barry James and his family own shares of all the stocks mentioned through the funds. The firm owns all three. They do not own greater than 1 percent and have no other conflicts.