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Expect a 'Goldilocks Recovery': Pro

Friday, 7 Jun 2013 | 1:44 PM ET
Stocks Rally on Upbeat Economic Data
Friday, 17 May 2013 | 12:00 PM ET
Stocks are coming off their worst day in two weeks, with the FMHR team. Meanwhile CNBC's Steve Liesman helps break through the Fed noise. And Mike Santoli, Yahoo! Finance, says Google is not the next Apple.

While it won't be all clear sailing, the stock market is setting up for continued gains after a positive U.S. employment report, Stephen Weiss of Short Hills Capital said Friday.

"I don't think we're going to have a major decline in the averages," he said, adding that there could still be a 2 to 3 percent move either way.

Weiss also said that the market's recent action shows that it's "still very rational."

"We're setting up for a Goldilocks recovery and a phenomenal bull market," he added.

Futures Now: Job's 'Sweet Spot'
The Futures Now team discusses whether Friday's jobs report will save gold.

Non-farm payroll jobs increased by a better-than-expected 175,000 in May, while the unemployment rate ticked up to 7.6 percent, sending stocks higher.

(Read More: Stocks Rally; Dow, S&P Jump 1% on Jobs Data)

On CNBC's "Fast Money," OptionMonster's Jon Najarian said that too-good a number would've made the market more dependent on economic data rather that the Federal Reserve's quantitative easing.

(Read More: Get Your Stocks 'Buy' List Ready: Stephen Weiss)

"Instead of the liquidity, a Fed-driven liquidity, we would go to an economic focus that was extremely negative," he said. "Now we get to talk about QE and all the rest."

Najarian also noted that the CBOE Volatility Index had eased off its recent upward trajectory.

"We're down 20 percent in volatility terms, the VIX, which peaked up over $18.50 a day and a half ago," he added.

Simon Baker of Baker Avenue Asset Management said that consistency was key.

"I think you continue to buy the pullbacks and sell some of the pops," he said, adding that recent consolidation in stocks was "very, very healthy for the market."

(Read More: Market Now a 'Rubik's Cube': Josh Brown)

Baker said that he expected cyclical stocks to outperform consumer staples.

OptionMonster co-founder Pete Najarian also noted that the VIX remained above its 200-day moving average, leading him to reduce his risk via options rather than stocks.

"At least this way I have reduced my risk and my exposure in the market," he said.

Trader disclosure: On June 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: Steve Weiss is long AAMRQ; Steve Weiss is long QCOM; Steve Weiss is long BAC; Steve Weiss is long BBRY; Jon Najarian is long YUM; Jon Najarian is long AAPL; Jon Najarian is long COP; Jon Najarian is long LPX; Jon Najarian is long NTAP; Jon Najarian is long OC; Jon Najarian is long UVXY; Jon Najarian is long HD; Jon Najarian is long SJM; Jon Najarian is long EEM PUTS; (AS OF 6/5) Pete Najarian is long AAPL; Pete Najarian is long AAPL CALLS; Pete Najarian is long C CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long MS CALLS; Pete Najarian is long XLF CALLS; Pete Najarian is long INTC CALLS; Pete Najarian is long YHOO CALLS; Pete Najarian is long BBR; Pete Najarian is long SBUX; Pete Najarian is long FB; (AS OF 6/4) Simon Baker is long AAPL; Simon Baker is long C; Simon Baker is long CSCO; Simon Baker is long YHOO; Simon Baker is long FB; Simon Baker is long GOOG; Simon Baker is long EBAY; Simon Baker is long PCLN; Simon Baker is long GM; Simon Baker is long VIAB.

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