A handful of high momentum growth names kept the averages in flat to slightly positive territory last year. Nevertheless, value stocks have taken the lead over growth in the past month and likely won't look back, said Jesse Clinton, managing director at Snowden Lane Partners.

"There was a thirst for growth because the economy was and is seen as slowing, so the growth opportunities stories became sought out but that has already reversed," said Clinton. "What has led us into this correction has been tech and stocks with international exposure. History shows that the sectors that lead us into these corrections often do not lead us out."

Clinton did add that if an investor truly wants to be in a high growth technology name then cyber security is the sub-sector with the most upside.

Clinton said he plans to stick to "all-weather stocks" that he defines as being "under loved" and pay a nice dividend. For example, he said he is legging into some financial stocks that have slipped this year.

TheStreet Recommends

"Their ability to earn has been restricted by regulation, but their balance sheets are strong and there is value in certain equities within the sector," said Clinton.

Clinton also suggests investors use a covered call strategy to generate premium and reduce the volatility in their portfolios. On the whole, covered call indexes posted low single digit gains last year while the major indexes, aside from technology, were flat to down.

"This year will likely be similar when it comes to a covered call strategy, however the leadership will be different," said Clinton.

Finally, Clinton recommends avoiding high multiple momentum stocks in the current environment.

"Momentum stocks perform well during times of slower growth but underperform during the bounce-back," said Clinton. "If we see some positive economic news -- and it seems that any good news will be well received since the expectations are so negative -- then all-weather stocks should do well."