The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- The Dow and the S&P 500 may have experienced the worst two-week losses since November. Still, is it really time to panic? When one considers the reality that the major averages are less than -4% from multiyear highs, abandoning stock assets seems a bit premature. That said, you may want to avoid certain investments.
For instance, faith in SPDR Select Sector Staples ( XLP) has rarely been higher. Its uptrend remains entirely intact and it is a mere -2.5% off of its multi-year peak. In the same manner, there are a wide variety of less volatile income producers that could be bought on the dips, from Vanguard High Dividend Yield ( VYM) to Guggenheim Multi-Asset Income ETF ( CVY). The 3.5%-5.5% annualized income should help to offset the persistent fears of a cataclysmic end to the investment universe. Either way, appropriate ETF hedges and intelligent stop-limit loss orders should help one rest easier about “being in.” You can listen to the ETF Expert Radio Show "LIVE", via podcast or on your iPod. You can follow me on Twitter @ETFexpert.