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Stocks To Buy Before U.S. 'Capitulation'

"Stay with the big-cap names that do a lot of business overseas, and wait for capitulation," says Church Capital Management founder and chief investment officer Gregory Church.

It's his simple formula, as more aftershocks rock the financial sector and indicator after indicator just points down.

"There's going to be an opportunity to buy this market, but we've got to go through a little bit more hell before we get there," he told CNBC.

Recommendations:

So which names look good to him?

"You look at companies that do a decent business overseas, companies like Procter & Gamble, companies like Cisco, where there's overseas build-out," he said.

Church also likes some utility names.

"I particularly like one, Progress Energy, 5.7 percent yield, a safe place to hide," he said.

Disclosures:

Disclosure information for Gregory Church was not immediately available.

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