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Watch Apple, VIX for a Market Tell: Pros

Action in Apple and the volatility index could be providing bullish signs in the market, the CNBC "Fast Money" pros said Monday.

Joe Terranova of Virtus Investment Partners wasn't bullish on the stock market, saying that the process of it turning positive would be a three-day process.

(Read More: Apple Bear Doug Kass Turns Bullish on Stock)

"I think you stay cautious," he said. "If the market is going to turn, it's going to do so by Tuesday."

Terranova said that he was watching Apple to see if it "can find its trough."

Not ready to call the bottom, he said, "I think we're stabilizing, but I think we need more evidence tomorrow."

Drakon Capital's Guy Adami said he was looking at 1,379 as a level of support in the S&P 500, and saw a potentially positive sign.

"The fact that the VIX is as down as sharply as it is gives me some reason for optimism," he said.

(Read More: 'Beginning of a Bull Market' for Apple: Porter Bibb)

OptionMonster.com's Pete Najarian said he was looking for pharmaceutical stocks, which were oversold last week in some cases, and financials.

Trader disclosure: On Nov. 12, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long SBUX; Joe Terranova is long SWN; Joe Terranova is long VZ; Joe Terranova is long XOM; Joe Terranova is long CVX; Joe Terranova is long GS; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Pete Najarian is long AAPL; Pete Najarian is long INTC CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long DIS; Pete Najarian is long LLY; Jon Najarian is long AAPL CALL SPREADS; Jon Najarian is long FB CALL SPREADS; Jon Najarian is long GS CALL SPREADS; Jon Najarian is long WMT CALL SPREADS; Jon Najarian is long SPY CALL SPREADS; Jon Najarian is long NFLX CALL SPREADS; Jon Najarian is long CBOE; Jon Najarian is long CME; Jon Najarian is long STSI; Jon Najarian is long GLUU; Jon Najarian is short puts in AGQ; Jon Najarian is short puts in GLD; Jon Najarian is short puts in SLV.

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