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Pullback is Coming — So Wait to Buy: Strategists

The economy is going to show growth in the third and fourth quarters, said Tommy Williams, president of Williams Financial Advisors and Janet Engels, director of private client research at RBC Dain Rauscher.

“This has to be a bear-market rally,” Williams told CNBC.

“But it’s a great rally and the earnings are looking good. Rally is a rally, but I don’t think we’re out of the woods yet.”

Williams said investors need to have a sell discipline and that "buy and hold" is a dead philosophy. He told investors to prepare for some pullback.

Engels agreed that it's a bear-market rally, but said it has further to go based on economic and earnings numbers.

“We’ve got further to go before a pullback, but the pullback won't come when everyone's chasing for it so we'll have further to go in this rally,” she said.

However, Engels told investors to put money on the sideline and wait for a better buying opportunity — “but we’re not going to be too fussy about the opportunity,” she said.

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Disclosures:

No immediate information was available for Engels or Williams.

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