No 'Blood' in Market Pullback—Opportunity to Buy: NYSE Trader
With markets dropping sharply, investors should cash in on this buying opportunity, said Gordon Charlopp of Rosenblatt Securities.
"I'm not smelling the blood, so I think it's just a little bit of a healthy pullback and people can't get fixated on these numbers," Charlopp told CNBC Thursday.
"Your 401(k) is not going to turn into 201(k)."
Meridian Trading Partners' Joseph Greco saw the pullback as "more of a pause," due to China's largest trade deficit in seven years.
The Oil View:
While oil prices fell despite uncertainty about Libyan supply as Gaddafi's forces attack oil towns, Greco speculated that prices would climb to $105 tomorrow, due to traders factoring in risk premium.
CNBC Data Pages:
CNBC's Companies in the News:
National Semiconductor reported lower than expected revenue that missed analysts' forecasts.
Bank of America's chief executive hopes for longer-term annual pretax profit of $40 billion.
The New York Times "pay wall" is in final testing, and will launch shortly.
Staples forecasts a sales recovery for the current quarter after inclement weather pulled down sales and profits in the fourth quarter.
Costco reported a 16 percent jump in profit this quarter due to strong holiday sales.
Disclosure information was not available for Charlopp or Greco.