NEW YORK (TheStreet) -- It was a rocky finish to April as U.S. stocks declined in the last two trading sessions of the month. Friday marked the first trading day of May, a month many investors associate with the old investing adage of "Sell in May and go away."
However, on CNBC's "Fast Money Halftime" show, Jim Lebenthal, president of Lebenthal Asset Management, said he doesn't plan to sell in May and come back after summer. The Federal Reserve's current actions seem to bode well for stocks, he said.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, doesn't plan on selling in May either. In fact, after the past few days of selling, he says there are better buying opportunities now than there were a month ago.
Specifically, he took a look at biotech stocks, saying, "I'll be surprised if we see a lot more downside." The levered biotech ETFs are really driving the sector in the short-term.
Investors shouldn't be looking to ride biotech stocks on the short-side, according to Michael Block, chief strategist at Rhino Trading Partners. Instead, they should be waiting for a buying opportunity, as the sector has slid roughly 6% on the week.
While it's hard to rule out a larger correction, investors shouldn't be too worried about one, says Tyler Vernon, CEO of Biltmore Capital. Interest rates need to be higher in order to justify a larger market correction, because with rates so low, there's no other attractive investments.
"We still think there's room to run" for stocks, Vernon reasoned, who added that he's not a fan of the sell in May strategy. He reminded investors that the economy continues to head in the right direction.