Phil Orlando of Federated Investors recommended not oil companies, but oil exploration and equipment firms: Transocean and Schlumberger.
David Riedel of the Riedel Research Group suggested Deere, which is providing the world's farmers with technology to gain desperately-needed efficiency in food production.
The Jensen Portfolio's Robert Zagunis told investors to go with companies that are big, global, and high-quality: Automatic Data Processing, Johnson & Johnson, and Wells Fargo.
Paul Fremont of Jefferies and Credit Suisse's Dan Eggers recommended non-regulated utility companies. Fremont picked First Energy, NRG, and Dynegy, while Eggers went with Public Service Enterprise Group, FPL Group, and Reliant Energy.
Crude oil inventories fell more than expected. The Fed's anecdotal Beige Book pointed to a weak economy, with a soft labor market and consumers hit by rising food and energy prices.
CastleArk Management's Jerry Castellini told investors to stop obsessing over oil prices and buy stocks like Petrohawk, Southwestern Energy, Ultra Petroleum, Nabors Drilling, National Oilwell, and Rowan Drilling.
Keith Wirtz of Fifth Third Asset Management recommended a blend of technology and ketchup: IBM and H. J. Heinz, saying both companies are defensive and are part of unique momentum trends.
First-time jobless claims hit their highest weekly level since late March; Lehman Brothers replaced its chief financial officer and chief operating officer; and Philadelphia Fed president Charles Plosser told CNBC inflation is his chief worry, and rates will have to go up -- the only question, he said, is, "When?"
David Katz of Matrix Asset Advisors suggested a move back into some selected financials: Merrill Lynch and Morgan Stanley, but Fusion IQ's Barry Ritholtz strongly disagreed, recommending Arch Coal, Swift Energy, Oracle, Sybase, and BMC Software.
Matthew Kaufler of Touchstone picked Triquint Semiconductor and Assured Guaranty, a bond insurer that's kept its AAA rating while some high-profile competitors have been losing theirs.
May's consumer price index reading showed the fastest inflation in six months, while June's preliminary consumer sentiment fell to its lowest level in 28 years.
Barry James of James Advantage Funds went with some major U.S. multinationals, three of them the largest companies in their respective fields: McDonald's, Owens Illinois, Hewlett Packard and Wal-Mart.