Trader Guy Adami said that investors can look at defense stocks, regardless of which candidate wins. He said that the sector has fallen as the market has slightly priced in a victory for Clinton, but he noted that it did the same thing ahead of Barack Obama's win. Adami said that those stocks have since rallied and could repeat that pattern again.
While defense companies may sell off with the rest of the market in the event of a Trump victory, Adami said that would only give investors more of an opportunity.
Trader Pete Najarian agreed and said investors should look at stocks like Lockheed Martin.
Big-cap technology stocks might be the way to go if the former secretary of state wins the White House, trader Dan Nathan said, adding that investors should look at those stocks in the event of pullbacks in general.
Trader Karen Finerman said that if Clinton wins, there will be a rush to buy guns, which would be good for stocks like Smith & Wesson, which is changing its name to American Outdoor Brands.
Pete Najarian is long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, calls: ABT, CNX, COP, CS, DISH, ECA, EMR, ETP, FTR, GM, GS, INTC, JBLU, JCP, JNJ, KGC, LOW, MENT, MOS, MRVL, MUR, NAV, PBR, RIO, SBUX, TTS, TV, WFT, WLL, X and puts: CAT, TWTR. He also has positions in ETFC, AGN, KMB.
Karen Finerman is long AAL, BAC, C, DAL, DB calls, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, and short IWM, MDY. Finerman is on the board of GrafTech International.
Dan Nathan is long TWTR, long XHB Jan put spread, long XLU Dec call Spread, long XLK Jan Put spread, long XRT Jan put spread, long PG Dec put spread, long EEM Nov put spread.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.