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Best ways to play the stock sell-off

It was a rough week on Wall Street, as the S&P 500 and Nasdaq Composite 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.

Read MoreDennis Gartman: Avoid stocks for the next month or more

"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.

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