(Read more: How to evaluate retailer stocks: Kernkraut)
"Obviously, earnings are still increasing," she said. "We still have positive earnings, but you can only cost-cut so much."
Gibbs said a few of the companies she liked were those that would do well as they continued to cut costs.
Robert Half, PetSmart and Dollar Tree were among her top picks.
Robert Half, Gibbs said, would benefit from a weak employment report.
(Read more: 'I want to have cash' this week: Stephanie Link)
"We see a lot of part-time employment increasing and not as much full-time, and this one of the companies that can take advantage of these," she added.
— By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.
— CNBC's Patricia Martell contributed research to this report.
Trader disclosure: On July 29, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Simon Baker is long AAPL; Simon Baker is long BBRY; Simon Baker is long GOOG; Simon Baker is long THC; Simon Baker is long HBC; Simon Baker is long OMC; Simon Baker is long C; Stephanie Link is long AAPL; Stephanie Link is long JPM; Stephanie Link is long WFC; Stephanie Link is long CSCO; Stephanie Link is long FB; Stephanie Link is long EBAY; Stephanie Link is long GPS; Joe Terranova is long TRV; Joe Terranova is long AXP; Joe Terranova is long OXY; Joe Terranova is long EMC; Joe Terranova is long MS; Joe Terranova is long GS; Jon Najarian is long AAPL; Jon Najarian is long DDD; Jon Najarian is long FB; Jon Najarian is long CPWR; Jon Najarian is long MAR; Jon Najarian is long MGM; Jon Najarian is long TIBX; Jon Najarian is long WLL; Jon Najarian is long ZNGA.