Although he is currently taking a cautious view on the overall market, Nate Pile, the editor of Nate's Notes, believes that eBay (NASDAQ: EBAY) and Walt Disney (NYSE: DIS) warrant accumulation for those with a long-term investment view.

As to the stock market and economy, he notes, "I'm concerned that the Fed really is stuck between a rock and a hard place. Yes, the market has responded favorably since the Fed's decision to cut the discount rate. But I believe we ought to be more concerned than excited by the Fed's action." Why? He notes, "Whenever the Fed does something 'clever or unexpected,' it is rarely because they think everything is going according to plan."

Meanwhile, the advisor says, "We have looked at our recommended stocks to focus on those that have shown strong relative strength despite market turmoil. We believe this is one of the best indicators for evaluating appreciation potential for once overall market conditions have turned more favorable."

eBay, he observes, has exhibited "excellent relative strength." Pile observes, "The stock needs to get back over $36 again on good volume for the move to be considered a breakout rather than a 'fake out.' But the pieces appear to be falling into place for a nice rally to develop."

He adds, "If you are building investment positions, I believe eBay is one of the more attractive stocks at the current time." He rates the stock a buy under $36.

Disney, he contends, is another 'big name' stock that warrants consideration. He notes, "For the company's third quarter, Disney reported revenues of just over $9.0 billion, up from roughly $8.5 billion in the same period a year ago.

Pile continues, "The company reported net income of just under $1.2 billion, or $0.58 per share, as compared to net income of $1.1 billion, or $0.53 per share, in last year's third quarter."

The advisor suggests, "Though the stock has not yet demonstrated that it has found its footing after the recent tumble, I continue to believe it represents a great investment at current prices – just be prepared for some additional volatility in the weeks ahead. DIS is now considered a buy under $34 and a strong buy under $31."

Each day, Steven Halpern's TheStockAdvisors.com features the latest stock picks and investment ideas from the nation's leading financial newsletter advisors.