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Fear the VIX? Market Pros' Investment Advice

The CBOE Volatility Index (VIX), considered the measure for fear in the market, rose to 24 on Tuesday, up 9 percent from yesterday. If volatility is back, what does this mean for stocks and your investments?

Tommy Williams, president of Williams Financial Advisors, and David Dietze, president and chief investment strategist at Point View Financial Services, shared their insights.

“The VIX is at a 1-year low and when the fear gauge is going down and complacency starting to reign, Warren Buffett says 'be greedy when others are fearful and be fearful when others are greedy,'” Dietze told CNBC.

“I don’t know if that means we’re at a cusp of a major selloff, but certainly the risk-reward situation has deteriorated markedly just on that indicator alone.”

More Market Intelligence:

In the meantime, Williams said investors do not need to worry about the VIX levels.

“I don’t necessarily think that the best indicator of those opportunities right now is the VIX. It’s one indicator, but there are so many other indicators,” he said.

“We’re overreacting to what happened in the VIX over the last couple of days. I don’t think that’s any kind of trend we can draw a conclusion from as an investor.”

Williams Likes:

S&P Consumer Discretionary

S&P Industrials

S&P Technology

Dietze Likes:

Verizon Communications

AT&T

Pfizer

Merck

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Disclosures:

No immediate information was available for Dietze or Williams.

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