Stock Market ‘Pretty Darned Good’: Link
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With quarterly earnings from most S&P 500 companies beating or in line with expectations, the market looks positive, TheStreet CIO Stephanie Link said Thursday on CNBC.
On "Fast Money," she said that she wouldn't be surprised to see a pull-back in the stock market soon.
"What scares me is that everybody's saying that. Everyone expects a 2 to 3 percent correction," she said. "And so we're either not going to get that, or we're going to get a lot more. I expect volatility either way."
Link said that 79 percent of companies reporting quarterly earnings either met or beat Wall Street expectations – despite pressure from the so-called "fiscal cliff" and damage from Superstorm Sandy.
"That's pretty darned good," she added.
Stephen Weiss of Short Hills Capital also saw continued upside following a slight pull-back.
"I think we're due for a 2 to 3 percent correction," he said, noting that the market reacted positively to lackluster GDP numbers. "It tells me there are buyers in the market."
Weiss also said he expected a decent jobs report on Friday.
"With no new news coming out from the economic front that we really care about here, I think it's still off to the races," he said.
Trader disclosure: On Jan. 31, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long AAPL; Joe Terranova is long GS; Joe Terranova is long DELL; Joe Terranova is long SWN; Joe Terranova is long XOM; Joe Terranova is long AAPL FEB 455 PUTS; Joe Terranova is long GOOG FEB 750 PUTS; Joe Terranova is long NFLX FEB 60 PUTS; Jon Najarian is long FB; Jon Najarian is long QCOM CALLS; Jon Najarian is long LVS CALLS; Jon Najarian is long ANN; Jon Najarian is long ANN CALLS; Jon Najarian is long JCP CALLS; Stephen Weiss is long QCOM; Stephen Weiss is long RIMM; Stephen Weiss is long AIG; Stephen Weiss is long AAPL CALLS; Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long WFC; Stephanie Link is long CSCO; Stephanie Link is long SBUX; Stephanie Link is long OXY;
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