Following the best week of the year for stocks, the S&P 500 has nearly wiped out all of October's losses, and two strategists told CNBC on Monday the market should forge ahead and deliver double-digit gains for 2014.
"The market is acting like the bottom is in," Fundstrat's Thomas Lee said in a "Squawk Box" interview—predicting stocks should retest their highs in mid-to-late November. The recent market low came on Oct. 15. As of Friday, the drubbing on the S&P earlier this month has narrowed to 0.4 percent.
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"Historically, after a really strong year ... it's actually possible to generate double-digit gains," said Lee, who is calling for the S&P to reach 2,100 by January, a 6 percent-plus gain from current levels. He left JPMorgan as a chief strategist in June to start his own firm.