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‘Summer of Discontent’ for Stocks: Pro

The stock market could continue to founder for another month or two before the next catalyst, Stephen Weiss of Short Hills Capital said Wednesday.

"This volatility is scary," he said. "It seems to me that when you have this many triple-digit moves, this much volatility in the markets, that never ends well."

On CNBC's "Fast Money," Weiss said that his outlook for the stock market was still positive, just not in the short-term.

"So, intermediate-term, longer-term, still bullish, but right now we're entering the summer of discontent," he said. "At least that'll be June, possibly into July, until we get the next Fed meeting."

The Federal Open Market Committee is scheduled to meet June 19 and 20 and again July 30 and 31.

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Weiss added that he had trimmed his market exposure but remained positive.

"I do still believe we're on the cusp of one of the greatest bull markets ever," he said.

Simon Baker of Baker Avenue Asset Management said that he remained long the market and would continue to buy dips in such names as General Motors, Wells Fargo and Simpson.

"When the market recovers ... it recovers really, really quickly," he added.

OptionMonster's Pete Najarian sounded less bullish than he had in the past.

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"I think in the past it's been an opportunity on the dips you want to buy," he said. "I don't think that's the case anymore in the financials. I don't think that's the case in the market."

Najarian noted the EEM turning negative in morning trading, as well as the decreased options activity in companies like Bank of America, Citigroup and JPMorgan.

"We aren't seeing that same kind of activity right now," he said. "And when you add the emerging markets on top of that and the volatility index, I think it's reason to kind of set yourself back, look for opportunities, but I'm not seeing them right now in the financials."

Trader disclosure: On June 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: Jon Najarian is long JOY; Jon Najarian is long KOG; Jon Najarian is long EEM puts; Jon Najarian is long SCSS; Jon Najarian is long UVXY; Simon Baker is long AAPL; Simon Baker is long GS; Simon Baker is long JPM; Simon Baker is long INTC; Simon Baker is long CSCO; Simon Baker is long FB; Simon Baker is long GOOG; Simon Baker is long HPQ; Pete Najarian is long AAPL; Pete Najarian is long BAC; Pete Najarian is long JPM; Pete Najarian is long MS; Pete Najarian is long XLF; Pete Najarian is long INTC; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long SE; Pete Najarian is short SBOX; Steve Weiss is long BAC; Steve Weiss is long C.

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GM
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SSD
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EEM
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BAC
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C
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JPM
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VIX
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