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Market Trends ‘Still Very Favorable’: Link

As stocks pull back slightly midday Thursday, a few stocks still offer strong opportunity, TheStreet CIO Stephanie Link said on CNBC.

"The GDP numbers that we got overnight were ugly, but those are lagging indicators, right? And to me, I don't think the industrial production numbers from yesterday, the Eurozone numbers, got enough credit," she said. "Those were way better than expected."

On "Fast Money," Link added that European Central Bank President Mario Draghi had "a whole bunch of stuff he could do" to spur growth.

Along with a positive U.S. jobs report and a slight rise in retail sales, Link said that the outlook was positive.

"What we've been doing, anyway, is looking at the stocks that are getting hammered, like a Cisco, or like a Yum! Brands," she said. "That's kind of where we see some value, although we're not abandoning the Goldman Sachs or BlackRock, those kinds of names, because those are where the trends are still very favorable."

Joe Terranova doubled down on his view that the market was putting a "short squeeze on pessimism."

"I feel even better about the market today than I did yesterday because we were able to overcome that euro weakness," he said.

Trader disclosure: On Feb. 14, 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 SJM; Joe Terranova is long MJN; Joe Terranova is long AXP; Joe Terranova is long JPM; Joe Terranova is long DIS; Joe Terranova is long FB; Joe Terranova is long BRKB; Joe Terranova is long GS; Joe Terranova is long SWN; Joe Terranova is long XOM; Stephen Weiss is long TBF; Stephen Weiss is long WLT; Stephen Weiss is long BAC; Stephen Weiss is long C; Stephen Weiss is long AIG; Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long CSCO; Stephanie Link is long SBUX; Stephanie Link is long AIG; Simon Baker is long BAC; Simon Baker is long GOOG; Simon Baker is long KRFT.

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