Moving on to the high price of oil, Terranova said the price of oil will continue to go higher because China imports more than one-fifth of Iran's oil and because of the deficient energy policy of the U.S. He said high gas prices could be the ultimate headwind for further equity appreciation.

In the final trades, Weiss liked Wellpoint ( WLP). Adami said he would buy TJX ( TJX) if it reports an earnings miss. J.J. Kinahan said he was playing HP ( JWN) to the upside. And Terranova favored Teck Resources ( TCK).

-- Written by David Tong in San Francisco.

>To contact the writer of this article, click here: David Tong.

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