NEW YORK (TheStreet) -- The S&P 500 slid once again on Tuesday, closing down 0.58%. The Russell 2000 fell 0.94%.
Brian Kelly, founder of Brian Kelly Capital, said it is too early for investors to say the "top" is in for the stock market. The Alibaba (BABA - Get Report) initial public offering doesn't seem like a bubble either because the company is highly profitable, unlike many other bull-market tops that had highly valued, unprofitable companies going public at the time.
Kelly also said the price action of the Russell 2000 concerns him because the companies in the index should be benefiting from the stronger U.S. dollar. However, the index continues to struggle.
Dan Nathan, co-founder and editor of riskreversal.com, reminded investors the Alibaba IPO went very well, up 38% in the first day, so its pullback shouldn't be surprising. He added that a pullback to 1,900 in the S&P 500 would be healthy while not doing too much damage.
Guy Adami, managing director of stockmonster.com, said he doesn't think Apple (AAPL - Get Report) will decline to his previous target of $88 anytime soon. The iShares Russell 2000 ETF (IWM - Get Report) seems like it will decline to $108 as the iShares 20+ Year Treasury Bond ETF (TLT - Get Report) continues to rally.
Karen Finerman, president of Metropolitan Capital Advisors, said large-cap stocks are still likely to outperform small-cap stocks. It's surprising how well Amazon (AMZN - Get Report) continues to trade despite the introduction of Alibaba, which is far more profitable that Amazon.
Adami said the selloff in shares of Yahoo! (YHOO) seems "overdone."
Edward Mills, senior financial policy analyst at FBR Capital Markets, said the U.S. government is making it harder and less attractive for companies to do tax inversions, or buying a foreign company to move operations abroad and avoid U.S. taxes. However, he said it can still be worth doing in select situations.
Kelly said there is still some upside left in BlackBerry (BBRY) . The company reports earnings on Friday and he is staying long. Nathan disagreed, saying he does not find BlackBerry attractive near current levels. Adami said he would be a buyer near $9.75.
Kelly said he is long a basket of 3-D printing stocks such as 3D Systems (DDD - Get Report) , Stratasys (SSYS - Get Report) and Exone (XONE) and plans to hold them for two to five years. These companies have "revolutionary technology," he added.
Adami said the 3-D printing space could become commoditized, and for that reason he does not like the stocks for the long term. If investors are trading the stocks for the short term, he suggests taking profits near current levels.
Adami reasoned that InvenSense (INVN) can move higher despite its high valuation. The price action has been good and there is a high short-interest.
Nathan said it would make sense for a company like Verizon (VZ - Get Report) or AT&T (T - Get Report) to acquire GoGo because it has such a small market cap and offers entry into another service area with Internet on airplanes.
Pavel Molchanov, senior vice president and energy analyst at Raymond James, said shares of GT Advanced Technologies (GTAT) could decline to $8 to $10. It seems "almost impossible" for the company to meet analysts' expectations for 2015. All of its prior gains came from the rumors that its products will be used in Apple's new iPhone, which turned out to be false.
Kelly said there appears to be support in shares of GT Advanced Technologies near $10.75. Adami said he is sticking with the stock on the long side with a target of $13.50 on the upside.
Facebook (FB - Get Report) popped 2%. Nathan said the company's effort to boost advertisers' awareness of its own effectiveness will benefit Facebook over the long term. This is good news for shareholders.
Walter Energy (WLT) jumped 3%. Finerman said the stock could go to zero. The company's bonds have a 40% yield, trade near "30-ish cents on the dollar," and suggest the outlook is far from optimistic.
CNBC's Meg Tirrell says that Tekmira Pharmaceuticals (TKMR) seems to be the go-to name for Ebola treatment right now, while a grant will be used for the company's treatment in clinical trials in West Africa. If the Ebola treatment doesn't work, it could raise questions as to whether other platforms from the drug maker will work for other illnesses.
Adami said shares of Tekmira Pharmaceuticals seem like they can climb back toward $30 per share.
For their final trades, Kelly is a buyer of the Market Vectors Gold Miners ETF (GDX - Get Report) and Finerman is buying Google (GOOG - Get Report) (GOOGL - Get Report) . Nathan is a seller of International Business Machine (IBM - Get Report) and Adami is a buyer of Agrium (AGU) .
-- Written by Bret Kenwell in Petoskey, Mich.