As if Mondays aren't bad enough, investors are faced with yet another potentially down day on Wall Street. And there could be many more down days to come, as stocks remain under pressure from a trifecta of woes this winter -- namely sliding oil prices, worries about China and uncertainty over the Fed. But one market watcher says that doesn't mean investors should cut their losses and run.

"The bigger takeaway for investors is not to panic. We don't want investors to do what they did in 2008 and 2009 and just get out of the market," said Kristina Hooper, U.S. investment strategist, Allianz Global Investors.

"If they have a long enough time horizon they should remain invested, although we do think agility matters, and active investing matters in this environment." Hooper advices investors to add dividend stocks to their portfolios.

"Focus on dividends; that is critical, because you're getting paid to wait," said Hooper. "We expect a lot of volatility, a lot of movement up and down, but we might not make much progress by the end of the year. At least dividends provide a significant amount of income that is still tax advantaged."

Hooper also favors the health care and technology sectors, particularly as earnings growth across the S&P 500 is slowing. "In particular, where we are seeing disappointment is a lack of revenue growth. It's even worse than earnings growth thus far in the earnings season," explained Hooper.

"That's just not an engine to power stocks higher." What will power stocks higher from here is difficult to call. Hooper said she believes the direction of Fed policy trumps other concerns on Wall Street.

"Some have argued, we've seen so much in the way of financial markets tightening, that the Fed may think their work is done for this year. I would argue that's not the case," said Hooper, who expects potentially three more rate increases this year, depending on economic data.