"One stock that looks well-positioned to weather any storm is Australia's BHP Billiton (ticker: BHP), which trades around 49. This producer of commodities, including coal and uranium, passes the trend test; it has been in a solid advance since 2003, handily beating the broad market over that span. Some will question the staying power of such a leader, especially since short-term technical tests, such as momentum, show BHP to be in need of a small correction. But with a solid long-term chart and a relatively low price-earnings ratio of 11.2 times next year's estimated earnings of $4.38 a share, it is cushioned against a market decline."

"Laboratory-equipment maker Millipore (MIL) likewise is well-positioned technically. A long-term chart shows the stock pausing as it prepares to attempt a breakout to new highs."