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Peter Andersen of Congress Asset Management and Peter Costa of Empire Executions say there are still stocks worth buying. They offered CNBC their top picks now.
Costa believes buying stocks now may be very risky — and that's just how he's enjoying playing it.
"I do think there will be a market selloff...15 to 18 percent on the S&P," he predicted.
He's involved in "very high risk stocks," he said — but he foresees equally high gains for them.
Costa's Recommendations:
First Solar [FSLR
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] — "Even at $155, there's a lot of potential room to the upside." He said the solar-power company's shares may double.
Apollo Group [APOL
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] — Owner of Internet for-profit education name University of Phoenix.
Andersen's Recommendations:
Andersen's picks run the gamut of type — and risk.
He praises data storage provider EMC [EMC
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] for its "sweet spot."
EMC serves "exponentially growing" Web companies including Google's YouTube. Its good balance sheet gives it great flexibility. And its horde of $15 billion in cash "equates to $4 per share."
Andersen recommends General Electric* [GE
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] "for those who'd like to dip their toes into a riskier name."
He points to a 3 percent dividend yield as proof of life and notes the conglomerate's trove of "cash and big investable securities," adding up to some $90 billion.
"And cash is king right now," he added.
Lastly, Anderson picks financial Wells Fargo [WFC
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* General Electric is the parent company of CNBC.
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Disclosures:
Disclosure information was not available for Andersen, Costa or their respective companies.
Data is a real-time snapshot *Data is delayed at least 15 minutes