"It's a difficult time right now, but when isn't it a difficult time?" asked Stephen "Sarge" Guilfoyle, a former NYSE trader and panelist on TheStreet's latest Trading Strategies roundtable.
While saying that you should stay in financials in the current environment, Guilfoyle noted a buying opportunity if the market sees a lift. "If the economy does better, you're going to want to be in industrial and materials," Guilfoye said.
Watch more clips from July's Trading Strategies: How to Play a Risky Second Half: