Trading the selloff: 8 stocks to buy – CNBC.com

Transports

A more than 3 percent jump in U.S. crude oil prices helped to push Dow transportation stocks 2 percent lower on Wednesday. Delivery services company FedEx also fell more than 2 percent.

Read MoreThere’s a huge sentiment split building in market

Weakness in the stock offers a buying opportunity, Seymour said. It closed around $165 per share on Wednesday.

Trader Brian Kelly looked at more direct energy plays. He liked movement in the Energy Select Sector SPDR Fund and United States Brent Oil Fund, both of which climbed more than 1 percent higher on Wednesday.

Chipmakers

Big-name chipmakers Qualcomm, Intel and Micron all lost ground on Wednesday. Intel has the most upside in the space, Seymour and Kelly contended.

It dropped nearly 3 percent on Wednesday to close below $30 per share. Seymour noted that weakness in the personal computer business—which Intel heavily supplies—has already been priced in.

Disclosures:

Tim Seymour

Tim Seymour is long T, BAC, C, DIS, XOM, F, GE, GM, GOOGL, INTC and SUNE. Tim’s firm is long BABA, BIDU, MCD, NKE, NOK, PF and SBUX.

Brian Kelly

Brian Kelly is long BTC=, U.S. dollar, GLD, EEM, CTRL calls, GSG, BBRY and TLT. He is short yuan.

Karen Finerman

Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short DIA. Her firm is long AAPL, BAC, C, CMLS, DIS, FINL, FBT, FL, GOOG, GOOGL, IBB, JPM, M, OIH, KORS, XBI, SUNE and URI. Her firm is long calls URI. Her firm is short IWM, SPY and USO. Karen Finerman is on the board of GrafTech International.

Guy Adami

Guy Adami is long CELG, EXAS and INTC. Guy Adami’s wife, Linda Snow, works at Merck.

Originally posted here: 

Trading the selloff: 8 stocks to buy – CNBC.com