The "Fast Money" traders spotted opportunities in some stocks after the markets sold off following last week's U.K. vote to leave the European Union. They said that there were some companies that were down several percent, despite the fact that the referendum was unlikely to have a material impact on their businesses in the long term.
Trader Karen Finerman said that she used a similar strategy and saw that Facebook was being pressured and followed the trend of the market, which she said was "ridiculous."
Trader Tim Seymour said that there was a "great opportunity for relative value" in the energy sector, especially in names like Valero Energy. He said that the refiners have performed well while the rest of the sector got hammered.
Trader Dan Nathan said he took a bullish position on Target on Tuesday. He said, it's a stock that "trades much cheaper to the market and to its peer, Wal-Mart." Nathan added that not only is it a dividend yielding stock, but it's also a defensive play since 100 percent of its sales come from the U.S.