Stocks will bounce off highs next week: Pro
The stock market has climbed for three straight weeks, but complacency among investors meeting with lingering concerns about the nation's unresolved budget issues will likely cause stocks to bounce off the 1,757 level on the S&P 500 index next week, professional trader Kenny Polcari told CNBC.
(Read more: Did Wall Street make the next budget crisis worse?)
"People are going to start once again focusing on are they coming together for the December budget and if they aren't, what does that mean? And, they're going to start speculating," said Polcari, a CNBC contributor and director of NYSE floor operations for O'Neil Securities. "So I actually think we're a little bit toppy here and we'll just bounce."
In turn, Polcari told CNBC's Sue Herera that investors should consider taking profits on some of their best-performing stocks. Investors should hold on to their core position, though, he added.