NEW YORK (TheStreet) -- While the S&P 500 (SPY) is only slightly lower in Tuesday's trading session, equities did experience a wave of early selling, with the index dropping over 1% early in the day. Generally, the market pulls back after taking out key levels, but tend to rally even farther in the not too distant future, said Stephen Weiss, founder and managing partner of Short Hills Capital Partners.
On CNBC's "Fast Money Halftime" show, he said the U.S. market is in "phenomenal shape" and is a better investment than international equities.
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The 12% pullback in shares of Spirit Airlines (SAVE) is a buying opportunity, said Mike Murphy, founder of Rosecliff Capital, who initiated a long position. He plans to buy of Delta Air Lines (DAL) and JetBlue Airways (JBLU) if they endure similar selloffs.
Pete Najarian, co-founder of optionmonster.com and trademonster.com, is also a buyer of Spirit Airlines. And he likes the low valuation and growth prospects of financial stocks and big tech companies, he said.
The bad news seems priced into the financial stocks, said Josh Brown, CEO and co-founder of Ritholtz Wealth Management. Financial stocks have lagged the broader market over the past few years, so they have a lot of potential as the U.S. economy picks up steam.
Investors should use pullbacks in Citigroup (C) , Wells Fargo (WFC) , Bank of America (BAC) and J.P. Morgan (JPM) as buying opportunities, Murphy said. The light trading volumes won't have too much of a negative affect, he added.
"They're fine," Weiss said of the banks. The fundamentals continue to improve, as does the economy.
"I bought Citigroup," Najarian said, after agreeing with Weiss. Najarian said investors should pay attention to the government's fines on the banks, but shouldn't be overly concerned about it.
The S&P 500 should end 2015 near 2,200, said Sovita Subramanian, head of U.S. equity and quantitative strategy at Bank of America. That would represent a 7% return, which is roughly in line with the historical return for equities.