Brian Kelly said 1,650 in the S&P 500 is the level he's watching and that the market dips remain buyable until that level is breached.
Steve Grasso said he doesn't think either party is looking at defaulting on U.S. obligations and that the market remains buyable.
Karen Finerman concurred, saying that there will be some volatile days leading up to the debt ceiling debate, but isn't changing her strategy because of it.
Steven Rees, private bank head of U.S. equity strategy at J.P. Morgan, was a guest on the show and said he's not expecting a big pullback. He added that they're overweight U.S. equities and that investors should hold onto what they own, while selectively buying on pullbacks. He argued that financials should do well in 2014, when tapering will likely be in effect along with higher interest rates.
For their "shutdown shopping lists," Kelly was a buyer of gold, with expectations that the government shutdown will cause the Federal Reserve to postpone tapering even longer. Guy Adami suggested buying stocks that have stood strong against negative headlines, such as Visa (V), Mastercard (MA) and Celgene (CELG), while Grasso continued to like his favorites: Tesla Motors (TSLA), Bank of America (BAC), and Google (GOOG).