The "Fast Money" traders evaluated the opportunities in tech stocks, following 's election and the sector's subsequent struggles.
Trader Guy Adami said out of all the tech stocks that have fallen since Election Day, Amazon may be the most interesting one to trade on the long side. He had previously talked about the potential for the stock to trade down to $700, which used to be a level of resistance and has now become a level of support for the stock after trading down to about $710 today before closing at $719.07.
Trader Karen Finerman said she is "full" on Google, hoping the dip is now over. She emphasized that Google is not expensive at its current price of $753.22, after it closed down 2.4 percent Monday.
"It's still a great company, and it's still growing and all of the things that benefit the market -- better tax structure, potential repatriation of money -- all of those are still positive for Google," she said. "It's a great business, could it trade lower of course it could, but I think buying it here ... ultimately will work out fine."
Trader David Seaburg said Facebook, Google and Amazon are rotation trades, moving into sectors that are beaten down.
Karen is long AAL, BAC, BAC short calls, C, DAL, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C 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.
Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc.David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore. BGNE, GRPN, VA – Not Approved.
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
GRASSO IS LONG: BA, CC, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, T, TWTR,URI. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. NO SHORTS. GRASSO'S FIRM IS LONG: VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF, SPY, QQQ, DIA, XLI.