NEW YORK (TheStreet) -- "We've had some really nice gains here," Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said on CNBC's "Fast Money Halftime" show. On Tuesday, the S&P 500 hit a new all-time high.
Investors should continue to stay long stocks and adjust their holdings according to their risk tolerance, he said. In late winter or early spring there always seems to be some sort of surprise that temporarily derails the market.
Must Read: 7 Stocks Warren Buffett Is Selling in 2014
The general market trend should continue, which means higher stock prices, said Dan Greenhaus, chief global strategist at BTIG. Higher interest rates and falling capital expenditure budgets for oil companies may negatively impact stocks temporarily, but the U.S. economy is doing great. The proof lies in the 5% GDP revision for the third quarter. "Where the recession?" he asked.
"We're just beginning to see" economic data that is really good, added Stephanie Link, chief investment officer of TheStreet and co-manager of the Action Alerts PLUS portfolio. The final GDP revision showed broad-based strength, which should bode well going into 2015, where earnings and revenues growth both have the potential to accelerate.
"The path of least resistance is higher," said Jim Lebenthal, president of Lebenthal Asset Management. However, he's concerned about the potential military risks associated with Russia.
There's a lot of good news for investors, but the financial situation in Russia could become a concern, according to Jon Najarian, co-founder of optionmonster.com and trademonster.com. One Russian bank already received a $500 million bailout, he added.
As for which stocks to buy, Bill Nygren, portfolio manager of the five-star rated Oakmark Fund, which has $13 billion in assets under management, likes energy and financial stocks, particularly Apache (APA) and Bank of America (BAC) . While oil has fallen to the mid-$50s, there's little evidence the commodity won't move higher over the ensuing years.