Stabilization in the oil market has pushed Encana (ECA) above $10 a share, or more than triple its late February low of $3. Donna Wilson, portfolio manager at Invesco Quantitative Strategies, said investors in the Canadian oil producer could still hit a gusher even after this impressive run higher. Wilson is also bullish on Commercial Metals (CMC) , up 21% year-to-date, saying the steel producer is benefitting from increased infrastructure spending in the Sunbelt. Graphics chipmaker NVIDIA (NVDA) is another one of Wilson's top picks. She said the semiconductor company has a lock on the gaming industry and has a "terrific cash flow." Finally, Wilson is a fan of Annaly Capital (NLY) , up 23% thus far in 2016, saying the mortgage REIT offers a 10% dividend yield and its portfolio is being diversified with the addition of commercial mortgages.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.