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‘Perfect Time’ for Market Pause: Brown

Thursday, 7 Feb 2013 | 12:16 PM ET
NYSE traders
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NYSE traders

This was a good a time as any for stocks to sell off, Josh Brown of Fusion Analytics said Thursday on CNBC.

"Everyone wants this correction to happen, which is surprising," he said.

Brown said that the "good news" was that historically February was the second worst month for the stock market.

On "Fast Money," he said that ahead of the sequestration deadline in Washington would be a good time for stocks to pull back.

"If we do get a pause, this would be a pefect time to get it," he added.

'Perfect Time' for Market Pause: Josh Brown
The stock market historically performs this way in February, Josh Brown of Fusion Analytics says.

Simon Baker of Baker Avenue Asset Management said that fear in Europe was contributing to the sell-off.

Investors, he added, were "looking for any excuse to take money off the table short-term."

Baker said that it was a good time to buy the dips in sectors such as financials, not retail.

"Stick with the themes that have been working," he said.

Trader disclosure: On Feb. 7, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Josh Brown is long AAPL; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long JNJ; Simon Baker is long AAPL; Simon Baker is long WFC; Simon Baker is long FB; Simon Baker is long SBUX; Simon Baker is long GOOG; Simon Baker is long COH; Jon Najarian is long BBRY CALL SPREADS; Jon Najarian is short GMCR Puts; Jon Najarian is long COST ; Jon Najarian is short COST calls; Jon Najarian is long ORLY; Jon Najarian is long NOV; Jon Najarian is long NOV 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 TJX.

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