The Dow Jones Industrial Average is hovering at record highs and a handful of its components are performing even better.
Walgreens, Chevron, Intel, Caterpillar and Boeing are among the stocks leading the blue chip index higher. Walgreens and Chevron are on track for their best quarters since the early 1980s, while Intel is seeing its best gain since 2003.
Mark Tepper, president of Strategic Wealth Partners, said their upside now appears limited.
"I think it makes sense to rotate out," Tepper told CNBC's "Trading Nation" on Monday. "Look at some of these big winners like Chevron, Caterpillar. Caterpillar is trading at all-time highs right now. It's up substantially from where it was January of 2020. So it seems like all of the good news and then some is already priced in for a lot of these companies."
"When you look at Walmart, a family of four is about to have $5,600 of 'stimmy' money dropped directly in their laps and for the individuals where this money is going to move the needle the most, Walmart is their go-to store," Tepper said.
As for Visa, he said it could be an unexpected beneficiary of the reopening trade.
"While I certainly do not think e-commerce is going away, I do think you're going to see a rebound in in-person transactions," he said. "The consumer is going to spend. Whether it's done on credit cards or debit cards, Visa is going to benefit, I think there's an opportunity to catch up there."
Ari Wald, head of technical analysis at Oppenheimer, pinpoints another Dow stock that he believes has a strong "tactical" position.
"One name that stands out to us within the Dow … is Honeywell International, part of the industrial sector," Wald said during the same interview.
He points out Honeywell's fourth-quarter strength against the S&P 500 after its underperformance through 2019 and into 2020
"It has since settled back into support, into that prior breakout, into the rising slope of its 200-day [moving] average, trying to turn higher again. And we think that that inflection there has some legs to it and Honeywell becomes an outperformer over the coming months again," said Wald.
Disclosure: Strategic Wealth Partners holds WMT and V.