An Obama Market: What Stocks Could Fare Best

Technology

Any consumer strength likely would spill into technology, which has suffered as much as any sector during the current downturn.

But Rovelli, who focuses on the sector for Canaccord Adams, advises a measure of caution from investors who may be lulled into thinking the market has formed a long-term bottom.

"I wouldn't chase stocks. I would wait until we have a really nice move, if they come back in again to the Dow at 8,000, the S&P at 850," he says. "Nothing's changed in the overall big picture, so I would definitely wait to see what happens from here. If the market comes in, revisit names that don't have a lot of debt and give decent guidance."

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Some of those names could include Intel and International Business Machines , which Burnick sees as winners once the economy comes off its low point.

"You've got a sector way out of favor since 2000 that's still only recovered about half of what it lost," Burnick says. "These are companies that will do well just in general as the economy recovers and whatnot."

Areas to Avoid

In addition to fossil fuel companies, industries that could fall out of favor include defense contractors, while skepticism continues to reign about financials.

Military aircraft leader Lockheed Martin has seen its shares tumble about 25 percent over the past two months as Obama's political stock rose and culminated in Tuesday's victory.

Bargain hunters may have stepped in to give shares a small boost the day after the election, but Obama's predisposition against defense spending likely will be problematic for the industry.

Boeing also is a key military supplier, and its shares stumbled Wednesday.

In financials, continued credit issues and weakness in housing might provide a weight on that sector.

"I do think there's a lot of risk still in this market today," James Shelton, chief investment officer at Kanaly Trust, said on CNBC.

He said one of the keys to preventing further market turmoil will be how well Obama chooses his Cabinet members.

"What he's got to do here in the coming week is he's got to bolster confidence in the market with some very good appointees, particularly for Treasury," Shelton said.

"There's this perception that we saw this big rally in financials and that the worst is behind us," Burnick adds. "That actually may be true for some of the Wall Street firms, but I don't think you're going to get back anytime soon to normal operating conditions for financial stocks."

As such, investors will have to do their homework to profit from the Obama administration and look for what sectors will drive the economy out of recession.

"In every bull market you're going to see market leadership, and we haven't established that yet," Miralles says. "I think we have to operate as if this is not the beginning of a bull market."

© 2012 CNBC.com

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