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Market strategist on rally: 'Let your winners ride'

"Let your winners ride," said Sam Stovall of S&P Capital IQ on CNBC's "Closing Bell." The market pro believes bulls are about to run.

"Historically, once the market pulls back and then returns to break even, it tends to advance about 8 percent in the next three months," Stovall said.


Trader on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Trader on the floor of the New York Stock Exchange.

Although he thinks in early 2015 the market could pull back again, in the near-term, he thinks tailwinds will prevail.

However, to mix a metaphor, he doesn't think a rising tide lifts all boats. For example, Stovall believes oil prices will average around $80 in 2015, therefore he's cautious of energy.

But, "There are clusters of good stocks in high momentum areas; in those cases I'd buy high and sell higher," he said.

JJ Kinahan of TD Ameritrade is also looking for an advance. "With the yield on the 10-year around 2.3 percent, investors are turning to stocks for yield," he explained. "I expect that to continue, too."

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Kim Forrest of Fort Pitt Capital Group agreed. However, rather than position into end of year, she prefers to look at the market for the long-term; and comments suggest she's looking for the bull to not only survive, but thrive for quite some time.

"I'd look at industrials and tech for the next three to five years. Personally, I'm looking at them intently," she said.