Wait for better Facebook stock price: Pros
TheStreet Chief Investment Officer Stephanie Link said that she had sold shares of Facebook at $52 but was still holding some of her position.
"That quarter was phenomenal in terms of every metric across the board," she said. "And I think the company has yet to even benefit from video, and that's the next leg up."
But, Link added, Google's growth in cost-per-click advertising rates and relative value made it one to watch.
"That's the one that I think is very attractive should it pull back," she said.
Rosecliff Capital's Mike Murphy was positive on the stock.
"I love Facebook here," he said, adding that he was using options to hedge his fund's position. "The fundamentals on Facebook support a much higher stock. So short term, yeah, you're going to get some choppiness in the market, but I think long term the stock gets through $60."
OptionMonster's Pete Najarian said that he'd wait for a lower entry point.
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"I still think there's downside for Facebook, not because they're doing anything wrong," he said. "But I think there's some room to the downside before I'd have to step in again, and I'm looking for a number [in the] very low 40s—not where it is right now."
As for another high-flying online name, Yelp, Najarian said its costs and stock valuation, at 325 times earnings, didn't make it a buy.
"I wouldn't stick with a name like that," he said.
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Stephen Weiss of Short Hills Capital said not much has altered in momentum stocks in the online space.
"If you're an investor who plays in high-multiple, high-growth stocks, nothing has changed," he said. "Is the market looking at momentum a different way? Maybe for a short-time basis, it is. But otherwise, to me, they're still working as they've been working."
Trader disclosure: On Nov. 11, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Stephanie Link is long AAPL, GS, JPM, WFC, CSCO, FB; Michael Murphy is long AAPL, BAC, FB; Pete Najarian is long stock AAPL, PFE, CLY, BMY, MRK, long calls C, JPM, MS, INTC, CSCO, YHOO, SBUX, FB, MSFT, F and long puts TSLA; Steven Weiss is long KORS, TBF, M and short JCP.