Several top strategists are saying that investors should stick with stocks as the bull market enters its third year.

Among them: hedge fund guru Barton Biggs. “I don’t think valuations are stretched,” Biggs told Canada’s Financial Post. “The next move in the S&P 500 is more likely to be up than down, and that move could be 10% to 15%.”

Laszlo Birinyi also remains bullish, saying that investors who have missed the first big wave of the bull will try to jump into the market to catch up. “These kinds of strong beginnings lead to long and durable bull markets,” he says. “While there will be corrections and while there will be pauses, we’re still of the view that this is a bull market that we expect to go on for several years.”

Two other top strategists, Kenneth Fisher and Byron Wien, are focusing on stocks that should benefit from solid economic growth, the Post reports.

Others aren’t as optimistic. PIMCO’s Mohamed El-Erian says markets are in a tug of war, with “improving endogenous growth dynamics in the U.S. and core Europe, and particularly Germany” on the one hand and headwinds like high and volatile oil prices, complex policy challenges, budget uncertainties and Europe’s peripheral debt crisis on the other, the Post reports. And Economist David Rosenberg of Gluskin Sheff + Associates Inc. says it’s “time to take risk off the table”.