negative positive

The word "no" in that sentence is a determiner meaning "not any". The sentence is absolutely fine.

http://youtu.be/cVilLKtTolQ

We can indicate nonspecific quantities or amounts by preceding the thing or things being measured or counted with a determiner such as some, few, many, etc.

You have some money.
I have few clothes.
She has many pairs of shoes.

The determiner 'no' is, of course, specific. It indicates an absence, a zero amount or quantity.

My father has no hair on his head.
The dog has no tail.
We have no bananas.

http://youtu.be/cVilLKtTolQ