‘Fiscal Cliff’ Stocks to Own Now: Pros

Consumer stocks, technology or China? The CNBC "Fast Money" traders staked their positions ahead of the so-called "fiscal cliff."

"I think you've got to look at the consumer space," Joe Terranova of Virtus Investment Partners said Monday. "I think e-commerce will continue."

Terranova's picked three stocks worth looking at as the "fiscal cliff" approaches.

MasterCard – Terranova said he believed the stock would top $500. "It's a name I would own."

American Express – Terronava liked its catering to the "aspirational consumer."

Whole Foods – "A company that's actually cited the challenges looking ahead of the potential fiscal concerns, so those are three names, all consumer-related, that I think you want to go after."

Terranova said that he didn't expect consumer spending to drop off the "fiscal cliff," the tax hikes and federal spending cuts triggered on Jan. 1 if Washington lawmakers fail to reach a budget agreement by year's end.

TheStreet CIO Stephanie Link said technology was worth looking at.

"Accenture has held up very well, gaining market share from Hewlett-Packard," she said, adding that the company was growing its business region by region around the globe.

Another interesting stock: IBM.

"On the flip side, they saw some push-outs," she said. "I think it's pent-up demand. They haven't executed as well, but I do think that their product cycle, particularly in hardware, gives them some momentum."

Simon Baker of Baker Avenue Asset Management liked Northrop Grumman as a bet that the cliff would be avoided.

"The way it stands right now, defense cuts are going to be around 9.4 percent," he said. "It's got a 3.6 yield. It's probably the cheapest in aerospace."

If and when a budget deal is reached, one big winner will be China, OptionMonster's Jon Najarian said.

"I think the second-largest customer of China, the U.S., avoiding the 'fiscal cliff,' is very good for them.

If and when we do push this behind us, the 'fiscal cliff,' that is, I think this one goes into the mid-40s," he said. "I would buy FXI."

Trader disclosure: On Dec. 10, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Simon Baker is long AAPL; Simon Baker is long SNDK; Simon Baker is long SMH; Simon Baker is long XLU; Simon Baker is long T; Simon Baker is long GS; Simon Baker is long WFC; Stephanie Link is long AAPL; Stephanie Link is long JPM; Stephanie Link is long SBUX; Stephanie Link is long KEY; Stephanie Link is long IBM; Joe Terranova is long VRTS; Joe Terranova is long TJX; Joe Terranova is long AAPL; Joe Terranova is long YUM; Joe Terranova is long SWN; Joe Terranova is long GLW; Joe Terranova is long DELL; Joe Terranova is long VZ; Joe Terranova is long XOM; Doug Kass is long AAPL.