It was a rough week on Wall Street, as the S&P 500 and put in their worst weekly performance since June 2012. In light of the downturn in stocks, CNBC's "Fast Money" traders offered their best ways to play the sell-off, and gave guidance on how to position in the coming days.

Steve Grasso of Stuart Frankel pointed out a key level to watch in the S&P 500 for an indication of where the market could be headed.

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"You have to look at the 100-day moving average," he said, which sits at 1,828. "If this gets lengthier than five days below 1,828, then the market is in trouble."

Grasso also offered a name he would buy on the dips. "With more access to cars, Pandora's going to be in more and more rides going forward. I think this is a good place to buy it," he said.

Read MoreS&P 500 in early stages of a correction: Day trader

Tim Seymour of Triogem Asset Management took a glass-half-full view of the sell-off, saying that the market's volatility is creating a great environment to be a stock picker.

"I think the second-quarter thaw for the economy is going to be much stronger than people expect … the industrial side of the economy, that's where you want to trade this thing," he said.

Jon Najarian of Optionmonster.com said that the market weakness presents a great entry point for online travel company Tripadvisor, which fell 8 percent in just the past week. "Right now, with it down as much as it is, I would be a buyer of TRIP," he said.

Trader disclosures: On Apr. 11, 2014, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long GOOG; Tim Seymour is long GM; Tim Seymour is long F; Tim Seymour is long EWZ; Tim Seymour is long NKE; Tim Seymour's firm is long SBUX; Jon Najarian is long NKE; Jon Najarian is long GILD; Jon Najarian is long AYI; Jon Najarian is long AGN; Jon Najarian is long WHR; Jon Najarian is long GBX; Jon Najarian is long MSFT; Jon Najarian is long INTU; Jon Najarian is long KEY; Jon Najarian is long IBB; Steve Grasso is long ANF; Steve Grasso is long CLVS; Steve Grasso is long CCL; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GDX; Steve Grasso is long EVGN; Steve Grasso is long HPQ; Steve Grasso is long MHY; Steve Grasso is long LNG; Steve Grasso is long MJNA; Steve Grasso is long NVIV; Steve Grasso is long PAY; Steve Grasso is long NXPI; Steve Grasso is long PFE; Steve Grasso is long QCOM; Steve Grasso is long POT; Steve Grasso is long SO; Steve Grasso is long YHOO; Steve Grasso is long TWTR; Steve Grasso's firm is long TBT; Steve Grasso's firm is long C; Steve Grasso's firm is long PFE; Steve Grasso's firm is long GM; Steve Grasso's firm is long P.