Later in the broadcast, Najarian said he also likes Seagate Technology at current levels.
In trader Joe Terranova's opinion, QE3 will likely prompt a rotation out of Treasurys and into stocks. To support his argument, he noted the 200-day moving average on the 10-Year Treasury Note is at around 1.83 percent, a level it has not been able to push past since early spring 2012. So if the yield on Treasury bonds remains low, Terranova thinks people are likely to gravitate toward dividend-paying stocks that are likely to produce a better return.
Terranova remains long any consumer-related stocks.
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Trader Josh Brown is also looking to dividend-paying stocks, such as Chevron.
"I would rotate out of the things that are screaming on this news and I would go back to the dividend payers," Brown said. "I would be skipping the cyclicals because I still think we're not out of the woods internationally and that's as big a story as this is."
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CNBC.com with wires.
When this story was published, Jon Najarian owned STX. Josh Brown was long CVX. Drew Sandholm owned the GLD.