Federal Reserve Chairman Ben Bernanke gave the market everything that it wanted except one thing: certainty.
The Fed will continue its $85 billion monthly bond purchasing plan, even though it has seen a much better employment situation and many of the risks to the economy diminish.
However, Bernanke did state the Fed will be flexible with its stimulus in the future, meaning it will eventually taper (but not abruptly stop) quantitative easing. He also reinforced that the Fed would ramp up the stimulus if the economy worsened after tapering begins.
But even with the market-friendly plans, the selling has commenced. Link says this is profit-taking and it's okay. She also suggested there might be uncertainty weighing on traders, since they know there will be tapering, but have no hard data points of when it will begin.
Her biggest concern remains to be bond yields, which continue to move higher as bond prices move lower. She added that if yields continue to climb, there may be questions of whether that will hurt housing or consumers.
However, she continues to like the financials. Specifically, Link likes JPMorgan , Wells Fargo and KeyBank .
On top of that, she's watching AIG and Hartford Financial , adding that the companies' restructuring efforts make them attractive names.
Link concluded that you "want to be overweight financials in this environment."
Disclosure: Action Alerts Plus owns JPMorgan Chase, Wells Fargo and KeyBank.
-- Written by Bret Kenwell in Petoskey, Mich..
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.