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Power Play: Key investing tips for Q4

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.

The Dow, S&P 500 and Nasdaq have rebounded from the late summer sell-off, posting gains of more than 5 percent so far in October.

But veteran strategists tell CNBC's "Power Lunch" on Monday you still have to invest carefully.

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Sandy Lincoln, chief market strategist at BMO Asset Management U.S. believes you have to be vigilant on stock selection and look at revenue growth.

"Favor more active than passive/index approach. Don't overpay," Lincoln said.

Timothy Ng, chief investment officer at Clearbrook Global Advisors is avoiding telecom and utilities.

"Telecom tends to be capital intensive and with utilities- costs are going up," Ng said.

Stocks are flat during trading, while telecom and utilities are down slightly.