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Traders go Brexit bargain hunting amid market sell-off

The "Fast Money" traders went Brexit bargain hunting, after markets continued to sell off on Monday on the heels of the U.K. voting to leave the European Union last week. Since the referendum vote, global stocks have lost $3.01 trillion in value.

Trader Guy Adami said that the sell-off is an opportunity to buy Honeywell, which just hit a new all-time intraday high of $118.53 last week. He said that assuming the market stabilizes here that Honeywell is an attractive option at its current multiple ahead of earnings.

Trader Dan Nathan said that investors should look at companies with secular tailwinds supporting them, like payment processing company Paypal, which is down 7 percent in the last week.

"I like the valuation compared to a Visa or Mastercard, so that's one I continue to like in the mid 30s," he said.

Trader Tim Seymour said he likes Priceline because the company profits from bookings in Europe. He admitted that while there could be some currency effects, online travel companies should continue to do well. Although the stock has shed more than 11 percent in the last week, the move is an "overreaction" because Priceline "dominates" its industry, Seymour said.

Trader Karen Finerman said she likes Facebook and that overall what's happening in the market is a "flight to quality names where there's still growth."

Pedestrians walk past British Union flag designs on advertisements for sales discounts
Simon Dawson | Bloomberg | Getty Images
Pedestrians walk past British Union flag designs on advertisements for sales discounts

Disclosures:

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck.

Karen Finerman

Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, WIFI long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.

Dan Nathan

Dan Nathan is long JD Aug call spread, long PFE, long TWTR, BABA Aug put spread, IWM long Sept put, XLF long Aug put spread, XLK long Sept put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long C Aug put spread, VZ July/August put spread, XOP Sept put spread

Tim Seymour

Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, WYNN, XRT. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM