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Fast Money Madness: Round 2 Continued

The second round of the "Fast Money Madness" continued Monday with match-ups between big-name financials, fifth-seeded Morgan Stanley faced No. 4 JPMorgan. Also, seventh-seeded Citigroup went up against No. 2 Goldman Sachs.

No. 5 Morgan Stanley vs. No. 4 JPMorgan

StockMonster's Guy Adami backed JPMorgan.

"I'm going to give you JPM because I think if Europe is an issue, I think both get hurt," he said. "I think Morgan Stanley will get hurt more. We've seen it before."

Simon Baker of Baker Avenue Asset Management ran for the opposite end zone.

"I think Morgan Stanley gets punished unfairly because of this European thing, which is why it's trading at 60 percent of a discount to fair value, so in terms of valuation between those two, I'd go with Morgan Stanley," he said.

Brian Kelly of Shelter Harbor Capital picked Morgan Stanley on his speculation about JPMorgan's CEO Jamie Dimon.

"I do like Morgan Stanley a little bit lower, probably closer to 20, but I think in JPMorgan there is a non-trivial risk that Jamie Dimon is not there" sometime in the future, he said.

OptionMonster's Pete Najarian saw more upside in Morgan Stanley.

"I think JPMorgan's got upside but not as much upside as Morgan Stanley," he said. "I think they take them out here."

Twitter followers of "Fast Money" voted for JPMorgan, but it was not enough to propel it forward.

Morgan Stanley advanced to the next round.

No. 7 Citigroup vs. No. 2 Goldman Sachs

Adami had one word: "Citi."

"Since the nonsense of '08, '09 has happened, obviously Citi has sort of moved sideways," he said. "In terms of upside, there are people out there who think Citi can earn $8, $9, $10 a share in the next couple of years. You slap an eight, nine multiple on it, you see where the stock can go."

Baker said that with all the fiasco in Europe, "global banks are going to do well."

His choice: Citigroup.

Kelly sided with Citigroup, too.

"I'm going to put it in the category of so-bad-it's-good," he said. "They don't have to make too many moves to improve their lot, and their upside's much bigger."

Najarian saw an uneven match-up in Citi's favor.

"I don't even think it's close. I think they absolutely could crush Morgan Stanley to the upside," he said. "I think that Citi can get itself up toward that $55, $60 number."

On Twitter, "Fast Money Madness" fans backed the underdog Goldman Sachs.

Citigroup advanced to the next round.

In other match-ups, No. 9 Transocean trounced United Technologies to face off against No. 4 General Electric. No. 11 Deere and No. 2 Honeywell also advanced to Round 3.

Top-seeded Bank of America beat out No. 8 BlackRock, and No. 3 Visa beat out No. 6 Wells Fargo.

Trader disclosure: On March 25, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Simon Baker is long AAPL; Simon Baker is long JPM; Simon Baker is long GLD; Simon Baker is long YHOO; Simon Baker is long EBAY; Guy Adami owns C; Guy Adami owns GS; Guy Adami owns INTC; Guy Adami owns MSFT; Guy Adami owns AGU; Guy Adami owns NUE; Guy Adami owns BTU; Guy's note: "My wife, Linda Snow, works at Merck"; Brian Kelly is long Treasuries; Brian Kelly is long GOLD; Brian Kelly is long Silver; Brian Kelly is short S P; Brian Kelly is short .DAX; Brian Kelly is short copper; Pete Najarian is long stock AAPL; Pete Najarian is long stock BBRY; Pete Najarian is long stock SBUX; Pete Najarian is long stock FB; Pete Najarian is long stock MSFT; Pete Najarian is long calls NOK; Pete Najarian is long stock GE;

For David Strasser
Janney Montgomery Scott LLC currently acts as a market-maker in the securities of Best Buy Corporation; Janney Montgomery Scott LLC intends to seek or expects to receive compensation for investment banking services from Best Buy Corporation in the next three months; The research analyst is compensated based on, in part, Janney Montgomery Scott's profitability, which includes its investment banking revenues.

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