The Thanksgiving-week rally took the markets up 10 percent, and with a 28-percent gain, financials outperformed just about everything else. BlackRock's Bob Doll sees investors cashing in on those gains this week, and recommends a move to more defensive stocks.
"What you do in your portfolio is, do some rearranging," he told CNBC Monday. "We've had some wonderful gains by some of the lower-quality names...I think you take some money off the table there, and recycle back into some of the more defensive names."
He's especially fond of health-care stocks.
"Johnson & Johnson, Amgen, these are names that lagged last week," he said. "They were up, but not nearly as much; they still have good prospects, so these are the kinds of trades we think make sense in this environment." (For his full comments see video)
Disclosure information for Bob Doll was not immediately available.