TD Ameritrade's chief market strategist JJ Kinahan told Scott Gamm at TheStreet's recent Financial Success Strategies forum for investors that earnings run the stock market.

While some investors wonder if stocks have run up too much, Kinahan points to strong earnings as validation for where things stand in the stock market. "[Companies] are not just meeting expectations, they're trouncing expectations," Kinahan said. 

Kinahan also said there's nothing wrong with investors taking profits on FANG stocks (Facebook (FB) , Amazon (AMZN) , Netflix (NFLX) and Alphabet (GOOGL) ) and allocating capital to other companies and sectors that are showing growth. This has been a recent theme across the markets, especially amid strength in Caterpillar (CAT) and 3M (MMM) .

As for tax reform, Kinahan said expectations are so high, that if the tax-reform bill doesn't live up to those expectations, the markets could see a pullback.

Click here to check out more of what Jim Cramer, JJ Kinahan, CNBC's Jon Najarian and other experts said recently at TheStreet's Financial Success Strategies symposium in New York City.

More from Video

Earnings Tuesday: Caterpillar Beat, McDonald's Beat, what it all Means

Earnings Tuesday: Caterpillar Beat, McDonald's Beat, what it all Means

The Key to Navigating the Current Market: a Clear Head

The Key to Navigating the Current Market: a Clear Head

Jim Cramer Gets Quizzed on Cannabis

Jim Cramer Gets Quizzed on Cannabis

History With a Side of Fries? Inside McDonald's Storied Past

History With a Side of Fries? Inside McDonald's Storied Past

How Did Caterpillar Get Its Name?

How Did Caterpillar Get Its Name?