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Richard Cripps wants to hear more about the budget before he jumps back into the market, but he has some stock-investing ideas that he thinks are worth considering.
"It's a proposed budget, it's not law," the chief investment officer of Equity Compass Strategies pointed out to CNBC. "Congress, of course, is what's going to pass the budget."
Banks are not among his investment ideas, at least for now, but Cripps is very optimistic about short-term gains for other selected stocks.
"From a cyclical standpoint, I think that stocks have been under tremendous pressure," he said. "They're due for a rally. I think you could see the Dow Jones Industrials go up 50 percent."
Recommendations:
He may not like banks, but a financial stock tops his list: Mastercard [MA
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He also likes AT&T [T
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Disclosures:
Disclosure information for Richard Cripps was not immediately available.
Data is a real-time snapshot *Data is delayed at least 15 minutes