NEW YORK (TheStreet) -- After a tumultuous first few trading sessions to start the new year, stocks flipped back to rally mode, erasing most of the year-to-date losses as the stock market re-approaches record highs.
By the time 2015 comes to an end, those investors who stayed put in U.S. stocks will be "very happy," according to Joe Heider, president of Cirrus Wealth Management.
"We expect another double digit return in the S&P 500," he added.
Specifically, Heider likes the retail and airline sectors, which should continue to benefit from low oil prices.
Both of those sectors should benefit as a whole, as input costs go down and consumers' spending power goes up. But that doesn't mean investors shouldn't be selective about the stocks they buy.
For example, Costco Wholesale (COST - Get Report) reported better-than-expected same-store sales for the month of December, with a 3% gain. At the same time, there's The Wet Seal (WTSL) , which is down 8% after announcing it will look to close 338 retail locations.
So investors need to know what they're getting themselves into.
Oddly enough, Heider also says the energy sector is beginning to look interesting on the long side. As West Texas Intermediate inches closer to $45 per barrel, investors should start to consider buying select energy stocks.
As for what to avoid, investors should stay away from high yield bonds, which will continue to see heightened volatility as concerns rise over credit risk and default potential, particularly with those associated with oil companies, he warned.
-- Written by Bret Kenwell