Not working with `npm link`

webpack.config.js

var path = require('path');
var webpack = require('webpack');

module.exports = {
  devtool: 'eval',
  entry: [
    'react-hot-loader/patch',
    'webpack-dev-server/client?http://localhost:3000',
    'webpack/hot/only-dev-server',
    './src/index'
  ],
  output: {
    path: path.join(__dirname, 'dist'),
    filename: 'bundle.js',
    publicPath: '/static/'
  },
  plugins: [
    new webpack.ProvidePlugin({
      $: "jquery",
      jQuery: "jquery",
      "window.jQuery": "jquery"
    }),
    new webpack.HotModuleReplacementPlugin()
  ],
  module: {
    loaders: [
      {
        test: /\.css$/,
        loader: "style-loader!css-loader"
      },
      {
        test: /\.(png|woff|woff2|eot|ttf|svg)(\?v=[0-9]\.[0-9]\.[0-9])?$/,
        loader: 'url'
      },
      {
        test: /\.js$/,
        loaders: ['babel'],
        include: path.join(__dirname, 'src'),
        presets: [
          "react",
          "es2015",
          "stage-2"
        ].map(require.resolve)
      }
    ]
  },
    // for modules
  resolve: {
    fallback: [path.join(__dirname, 'node_modules')]
  },
  // same issue, for loaders like babel
  resolveLoader: {
    fallback: [path.join(__dirname, 'node_modules')]
  }
};