Some non-technology stocks with momentum that investors are buying into year-end

(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day)

Investors Tuesday morning were gearing up for Nvidia’s big report on Wednesday, while looking at some areas outside of technology to increase exposure into a likely volatile year-end.

Bill Baruch of Blue Line Futures is positioning for a short-term pullback in the markets, possibly a correction.

“You want to stay nimble, strong opinions, held weakly,” Baruch said on Worldwide Exchange, “In this environment there is money to made on both sides depending on what your time frame is.”

Baruch is also seeing big opportunities in the energy market, due to the expectations of Federal Reserve rate cuts and tension in the Middle East moving oil prices higher in the last week. He remains bullish on the market long term.

Nvidia shares have jumped more than 26,000% over the last decade. Degas Wright of Decatur Capital Management said a lot of his confidence in Nvidia is derived from his confidence in Jensen Huang and his 30 years of experience as the founder and CEO.

“We would expect a high ability CEO to produce higher quality earnings based off their knowledge of the industry,” Wright said on Worldwide Exchange.  

He added: “We are looking at the fact he is a visionary, he has over the last 3 decades invested almost 20% of revenue into research and development. That’s going to pay dividends into the future.”

Baruch says Chubb (CB) and CF Industries (CF) are two plays he is using to diversify away from tech. Chubb is a global insurance company that hit an all-time high on Monday. Baruch is citing the stable revenues and Warren Buffet’s sizable stake for Berkshire Hathaway.

CF Industries is a leading manufacturer of agricultural fertilizer including ammonia. Baruch says the recent rise in ammonia prices and the company’s nearly 2.5% dividend make it an attractive buy.

Coca-Cola (KO), Colgate Palmolive (CL) and Unitedhealth (UNH) are among the 93 S&P 500 stocks hitting an all-time or 52-week high on Monday.  Ross Mayfield of Baird said he is not surprised to see these moves because the stocks have a dividend and the decline in bond yields makes them more attractive.

“These defensive names can be viewed as yield proxies, because they bring a dividend to the table. I think there is a yield component to it.” Mayfield said. ” I also think staples are going to benefit from lower input cost inflation. We are seeing inflation come down across the board whether it’s labor or raw materials.”

Unitedhealth has a 1.4% dividend yield, while Coca-Cola has a 2.74% payout.