NEW YORK (TheStreet) -- After a strong rally this week, U.S. stocks are taking a breather on Wednesday, with the S&P 500 lower by about 0.1%. Stocks appear to be in "no man's land," Tony Dwyer, U.S. portfolio strategist at Canaccord Genuity, said on CNBC's "Fast Money Halftime" show.
Dwyer says he is "very bullish for the year," expecting the second half of 2015 to be much more rewarding for investors. He advised investors to be buyers on pullbacks of 5% to 10% and reasoned that increased volatility isn't a warning sign going forward. Instead, it shows investors' uncertainty regarding the current investing environment.
Uncertainty increases with political unrest in Greece and violent price swings in energy. But it's this uncertainty that provides buying opportunities, according to Josh Brown, CEO and co-founder of Ritholtz Wealth Management. Without uncertainty, valuations would be much higher than current levels.
Companies seem to be doing a good job of limiting investors' expectations, according to Pete Najarian, co-founder of optionmonster.com and trademonster.com. Currently, the strength of the U.S. dollar is adversely affecting earnings results, but management is bracing investors for further weakness that could create tailwinds in the second half of the year if results come in better than expected.
Najarian said volatility in oil prices is likely to continue. The commodity is lower by 7.4% on Wednesday.
It's difficult to decide which way oil is headed on any given day, said Jim Lebenthal, president of Lebenthal Asset Management. However, over the longer term, oil prices are likely headed to $60 per barrel. Oil equities are likely headed higher as a result. He likes companies with safe balance sheets.
Investors who were long oil stocks only as a trade should consider taking some profits, according to Jon Najarian, co-founder of optionmonster.com and trademonster.com.
Chipotle grew year-over-year earnings per share and revenue by 52% and 27%, respectively. That's "pretty impressive," said Pete Najarian. While the company slightly missed same-store sales estimates and margin expectations, it plans on opening roughy 200 new locations in 2015 and still has plenty of growth ahead. He is a buyer of the stock.
Brown agreed, adding that the company raised menu prices by 7% in 2014 and didn't see a slowdown in traffic. A similar price hike could be on its way this year. Either way, the company's growth is still very strong.
Chipotle is "its own worst enemy," Jon Najarian said. Its incredibly strong growth in 2014 will make for hard comparable-store sales results this year. While same-store sales are strong, they're still showing some weakness from prior results. Investors should give the stock a few more days to sell off before getting long.
On Gilead, Yaron Werber, head of Citigroup's health care and biotech research teams, said the stock is still one investors can own. However, he also likes Celgene (CELG - Get Report) , which expects to grow earnings per share 20% to 23% annually until 2020 and has a strong pipeline. Amgen (AMGN - Get Report) is another stock investors can consider on the long side.
Lebenthal says he's a buyer of large-cap pharmaceutical stocks and Pete Najarian pointed out that biotech stocks have a reasonable valuation, given the industry's strong growth.
For their final trades, Pete Najarian is buying Goodyear Tire (GT - Get Report) and Jon Najarian is a buyer of Colgate-Palmolive (CL - Get Report) . Lebenthal said to buy BP (BP - Get Report) and Brown is staying long Disney (DIS - Get Report) .
--Written by Bret Kenwell