A few choice stocks could present a buying opportunity as Washington lurches toward a debt-ceiling deadline, Simon Baker of Baker Avenue Asset Management said Tuesday.
"I think consumer confidence is going to take a hit through this," he said.
Baker added that consumer staples and high-end retail would bear the brunt of the hit from the failure of Congress to pass a federal funding budget and approach a deadline to pay the nation's debt obligations.
On CNBC's "Fast Money," Baker signaled what he was looking to do.
"Any of these names that are selling off purely on the risk-off trade, I'd be going in," he said. "I'd be buying until my hands bleed."
Hedge-fund manager who have been waiting for a pull-back in stocks to put money to work would send the market higher after short-term rockiness, he added.
"I think they're going to rally in November/December," Baker said.
Joe Terranova of Virtus Investment Partners said that investors should take note of what's ahead.