Power Play: Why you should not invest in Europe

Trader on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

European stocks rallied on Tuesday after European Central Bank board member Benoit Coeure said the ECB would front-load an asset purchase scheme to boost the economy.

But two veteran strategists tell CNBC's "Power Lunch" on Tuesday they are cautious about investing in Europe.

Read More Europe ends sharply higher on ECB QE pledge

"I suspect the European market is going to stall here given the weakening euro story has slowed and the Greek exit will create some short-term anxiety," said Andrew Slimmon, senior portfolio manager at Morgan Stanley Wealth Management.

Joseph Tanious, principal and investment strategist at Bessemer Trust, says "Europe is showing signs of improvement, but clearly long-term fundamentals are questionable." Tanious is maintaining a neutral rating on Europe.

The Stoxx is up 18 percent year-to-date, but has been flat the past month.