“Right now, you want to shift down in market capitalization,” Sorrentino told CNBC. “Stick with [companies that have] very strong balance sheets – companies that can control their own destinies.”
Sorrentino said multi-national companies are going to have a tough time in the U.S. and also internationally.
“Go domestic, small, and if you’re going international, get there fast because those prices are lower than ours right now,” he advised.
Neimeth said consumer staples have been over-owned earlier this year and are now lagging.
“[These stocks are] boring as heck, but they’re going to hold off in a market that could trade off in the near term due to concerns about growth…and they’re very inexpensive too,” he said.
Philip Morris International
Neimeth and/or his firm owns stocks from CMCSA, PEP, MRO.
Sorrentino and/or his firm owns stocks from ORCL, EMR, SE.