Europe and China, as well as select U.S. stocks, stand to do well in the current investment climate, TheStreet CIO Stephanie Link said Friday.
"I think the market's going to be volatile now that 90 percent of earnings are already behind us," she said, adding that economic data this week showed China and Europe were experiencing growth, while Japan was OK.
"We have been buying the VGK. We own the DXJ. We have plenty of names that have exposure to China," Link added. "And so I think that's where on the margin things have changed this week vs. last week."
On CNBC's "Fast Money," Link said that she had taken profits before earnings and was now looking to buy such names as AIG, "also buying some stocks that are pulling back like Emerson, Eaton, Timken, Occidental."
Stephen Weiss of Short Hills Capital said that he wasn't looking to jump into stocks at the moment.
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"There's really nothing that's going to drive the market higher," he said. "Right now, my supposition has been that I'm not being paid to put on risk in trading names at this point."
Weiss added that he was waiting for the market to dip.