BRIAN STUTLAND, founder of Stutland Equities: Should the S&P 500 index head to the 1,150 level, he would add some put protection and protect to the downside.
STEPHEN L. WEISS, co-founder of Short Hills Capital: WellPoint, a health care plan provider, is repurchasing a considerable amount of stock. Weiss likes the buyback, adding WLP has great valuation.
GUY ADAMI, managing partner at Drakon Capital: "Ride that Yahoo! train," Adami said, referring to the rumors the Internet company may be a takeover target. (RELATED: How Pros Are Trading Buzz About a Microsoft Bid for Yahoo)
KAREN FINERMAN, president of Metropolitan Capital Advisors: Ride the Yahoo! train, but also sell some out-of-the-money calls against it.
JOE TERRANOVA, chief market strategist at Drakon Capital: Buy Freeport-McMoRan .
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