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‘Pockets’ of Good News for Market: Link

Despite some big-name misses so far this earning season, a few companies are signaling positive factors for stocks, TheStreet CIO Stephanie Link said Monday.

"CAT is saying OK things about the U.S.," she said. "Boise Cascade was able to raise pricing in their wood products division."

On CNBC's "Fast Money," Link said that signs of improvement in home building wasn't the only good news.

"Abbott Labs and JNJ actually talked about good consumer emerging market trends," she added. "So you can't just say it's all about just U.S. There are pockets that we're hearing from these companies that aren't so bad."

Joe Terranova of Virtus Investment Partners said that investors should consider the stock market being in a trading range.

His top sectors were financials, consumer discretionary and consumer staples.

But, he added, he would wait until midweek for a better idea of how earnings are shaping up.

"We know the cyclical stocks have really disappointed," Simon Baker of Baker Avenue Asset Management said, adding that the next leg up would be led by the likes of Apple, Google and Amazon.com.

"Domestically, I like the names in the technology space," he added.

Trader disclosure: On April 22, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Simon Baker is long JPM; Simon Baker is long AAPL; Simon Baker is long BAC; Simon Baker is long FB; Simon Baker is long MSFT; Simon Baker is long GOOG; Simon Baker is long NFLX; Simon Baker is long QCOM; Joe Terranova is long VRTS; Joe Terranova is long SJM; Joe Terranova is long IBM; Joe Terranova is long SPLK; Joe Terranova is long SWN; Jon Najarian is long MSFT; Jon Najarian is long CMG; Jon Najarian is long GOOG; Jon Najarian is short GOOG calls; Jon Najarian is short GLD puts; Jon Najarian is long DWA CALLS; Jon Najarian is long LULU CALLS; Jon Najarian is long AMZN CALLS; Jon Najarian is long EA CALLS; Jon Najarian is long FXI PUTS; Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long CSCO; Stephanie Link is long FB; Stephanie Link is long GE.

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