("Hindenburg-Proof" Defensive Stocks story updated with investment advisor's views on how to go about investing in some of these defensive stocks and additional stock names he likes.)
NEW YORK ( TheStreet) -- The occurrence of a third Hindenburg Omen indicator this week has only intensified concerns many investors have about the current state of the stock market.
The Hindenburg Omen is a technical indicator of a looming stock market crash. It's believed that two Hindenburg Omen occurrences within a 30-day period can trigger this type of disaster in the stock market.
The Hindenburg Omen occurs when an unusually high number of companies in the New York Stock Exchange reach 52-week highs and lows at the same time. The proportion of NYSE stock highs and lows must both exceed 2.5% of the total listed on the exchange."Markets are a manifestation of human behavior, and as we know, humans want to repeat behaviors over time," Huntington Asset Advisors' Peter Sorrentino said. "The sort of dichotomy highlighted by this price action highlights that there are two very different views of what the future will be, and both can't be right simultaneously. This will need to correct itself in either the proposed sell-off, or in a substantial rally. " But whether a stock market crash proves inevitable -- or we're actually headed for a major bull-market -- investment experts that TheStreet spoke with have recommended a series of diverse Dow, Dow-like and S&P 500 stocks that can both weather the storm and ride a bull market. Timothy Collins, RealMoney contributor and founder of TangleTrade Management said he would consider defensive, dividend-centric stocks such as Enterprise Products Partners ( EPD ) and Plains All American Pipeline (PAA - Get Report) for some MLP (master limited partnership) or income exposure. Collins would also consider off the beaten path stocks such as StoneMor Partners (STON - Get Report) because "whether we like it or not, people are going to keep dying." Collins is even looking at a small, stable growth component such as eBay (EBAY - Get Report). Read on for these diverse stocks with Morningstar's take and see what Huntington's Sorrentino and Harvey Neiman of the Neiman Large Cap Value Fund recommend -- regardless of what shows up in the crystal ball. Meanwhile, Collins weighs in on how he would about about investing in these stocks.