Rally Could Last Through 2013: Weiss
The stock market rally could last for a while longer, but expect a pullback, Stephen Weiss of Short Hills Capital said Tuesday.
"I think the rally's going to last for quite some time. I think we're looking at the rally going at least until the end of the year," he said. "However, we're due for a little consolidation phase. That doesn't mean a 10 percent correction. It means 3, maybe 5 percent pullback."
On CNBC's "Fast Money," Weiss said that stocks were where investors should be.
"It's a very orderly march up," he said. "I think you have be invested."
Joe Terranova of Virtus Investment Partners identified the Feb. 19-20 high of 1,530.98 in the S&P 500 as a critical level of support for the market.
"Should the market break below there, no questions asked, that's where I have to seek protection," he said.
Terranova said that he believed the run in the U.S. dollar could be softening, adding that he looked to SCCO as a play on copper and that dollar action.
(Read More: 'Dr. Copper' Has Raised Doubts About Recovery)
Rosecliff Capital's Mike Murphy was also a believer in the rally — as well as puts.
"The rally can continue as long as we have the same environment that we're in," he said, adding that the Federal Reserve's monetary policy, an improving U.S. economy and the lack of "major negative news" from Europe.
"Right now you stay long the core names you want to stay long, and you have your puts that are trading at historical lows," he said.
Trader disclosure: On March 12, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Stephen Weiss is long DKS; Stephen Weiss is long LCC; Stephen Weiss is long C; Michael Murphy is long BAC; Michael Murphy is long C; Michael Murphy is long GS; Joe Terranova is long VRTS; Joe Terranova is long SJM; Joe Terranova is long MJN; Joe Terranova is long AXP; Joe Terranova is long GPS; Joe Terranova is long KORS; Joe Terranova is long SWN; Joe Terranova is long GS; Joe Terranova is long SCCO; Joe Terranova is long PANW; Joe Terranova is long VSI; Brian Kelly is long S&P futures; Brian Kelly is long Gold futures; Brian Kelly is short Copper futures.