Be Brave: Profit from Banks, Refinery Stocks

Profiting from the market downturn takes bravery, says Jon Najarian, co-founder of and frequent guest on CNBC's "Fast Money". He and Bill Nichols, senior managing director at Bear Stearns, and Steve Grasso, broker at Stuart Financial, named the stocks that confident investors should buy.

Najarian recommends "putting on asbestos gloves" and buying into Capital One Financial, Freddie Mac and Fannie Mae -- all three will bounce back from subprime mortgage-related problems.

Grasso is long on Goldman Sachs Group , which is "always on the right side of a deal." He also likes the Philadelphia Exchange's oil-services index, OSX.

Nichols favors the "beaten-down" refiners, including Tesoro and Valero Energy.

But "if you want to sleep well this weekend," try consumer staples companies Procter & Gamble and Colgate-Palmolive, he suggests.