Google Closes Below $600

Shares of Google closed below $600 on Monday, the first close below $600 this year.

Weakness may have everything to do with a Wall Street Journal report which says coming off a record 48 acquisitions last year, Google is going to continue to be aggressive. Although that may sound bullish, investors often question whether Google spends its money wisely.

How should you position now?

Citi analyst Mark Mahaney sees the pullback as a buying opportunity. "I like the shares from here," he says. Mahaney has $750 price target on this stock and he tells us he stands by that forecast.

"Google is a 20-25% earnings growth story for the next two years and a broad thematic play on mobile, cloud computing and video advertising coming online," he says during a live interview on CNBC's Fast Money.

And Mahaney isn't the only Google bull on the desk. Fast trader Karen Finerman is also bullish. She thinks Google is a buy and hold while Tim Seymour calls Google, "growth at a ridiculously good price."

SLIDESHOW: Fast Money’s ‘Beat China’ Playbook

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Trader disclosure: On March 7, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Seymour owns (F); Seymour owns (GE); Seymour's firm is short (FCX); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's Firm is short (XRT); Finerman's Firm is short (IJR); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap, Finerman Owns (BAC); Finerman's Firm Owns (BBY); Finerman's Firm And Finerman Own (BP); Finerman owns (C); Finerman's firm owns (FDO); Finerman owns (GM) leaps; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (IBM); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM); Finerman's firm owns (M); Finerman's Firm And Finerman Own (MSFT); Finerman's Firm Owns (WMT); Terranova owns (VRTS); Terranova owns (C); Terranova owns (UPL); Terranova owns (ABT); Terranova owns (MS); Terranova owns (PBR); Terranova owns (BAX); Terranova owns (TEVA); Terranova owns (CVI); Terranova owns (RSX); Terranova owns (SU); Terranova owns (CNQ)

For Joe Terranova
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Virtus Investment Partners Owns More Than 1% Of (DOM)

For Brian Kelly
Accounts Managed By Kanundrum Capital Are Long Oil
Accounts Managed By Kanundrum Capital Are Long Gold
Accounts Managed By Kanundrum Capital Are Long Silver
Accounts Managed By Kanundrum Capital Are Long U.S. Bonds
Accounts Managed By Kanundrum Capital Are Long The Euro
Accounts Managed By Kanundrum Capital Own (FCX)
Accounts Managed By Kanundrum Capital Own (IAU)
Accounts Managed By Kanundrum Capital Own (SLV)
Accounts Managed By Kanundrum Capital Own (SLV) calls
Accounts Managed By Kanundrum Capital Own (GLD) calls
Accounts Managed By Kanundrum Capital Own (EBAY)
Accounts Managed By Kanundrum Capital Own (SPY) puts
Accounts Managed By Kanundrum Capital Are Short The U.S. Dollar
Accounts Managed By Kanundrum Capital Are Short S&P Futures
Accounts Managed By Kanundrum Capital Are Short (XRT)
Accounts Managed By Kanundrum Capital Are Short (XLF)
Accounts Managed By Kanundrum Capital Are Short (IXG)
Accounts Managed By Kanundrum Capital Are Short The Yen

For Dennis Gartman
Funds Managed By Dennis Gartman Are Long Gold
No disclosures on cotton or oil

For Aaron Rakers
Stifel, Nicolaus & Company, Inc. is a market maker in (STX)
(STX) is/was a client of Stifel, Nicolaus & Company, Inc. or an affiliate within the past 12 months
Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from (STX). in the next 3 months
(STX) is/was provided with non-investment banking, securities related services by Stifel, Nicolaus & Company, Inc. or an affiliate within the past 12 months.
Stifel, Nicolaus & Company, Inc. is a market maker in (WDC)
(WDC) is/was a client of Stifel, Nicolaus & Company, Inc. or an affiliate within the past 12 months
Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from (WDC) in the next 3 months.

For Mark Mahaney
Citigroup Global Markets Inc. or its affiliates beneficially owns 1% or more of any class of common equity securities of (YHOO), (NFLX), (AKAM)
Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of (WBMD), (ACOM).
Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from (WBMD), (ACOM), (PCLN)
Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from (GOOG), (YHOO), (AMZN), (WBMD) in the past 12 months.
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s): (WBMD), (ACOM), (PCLN)
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities-related: (GOOG), (YHOO), (AMZN), (WBMD)
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, non-securities-related: (GOOG), (YHOO), (AMZN), (WBMD).
Citigroup is a market maker in the publicly traded equity securities of (NFLX), (AKAM), (GOOG), (YHOO), (AMZN), (WBMD)
Citigroup Global Markets Inc. and/or its affiliates has a significant financial interest in relation to (GOOG), (YHOO)
Citigroup Global Markets Inc. or its affiliates beneficially owns 2% or more of any class of common equity securities of (YHOO)

For Mike Khouw
Cantor Fitzgerald & Co. is a market maker in (SPY)
Cantor Fitzgerald & Co. is a market maker in (IWM)

For Todd Gordon
Gordon has no disclosures

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O'Donnell has no disclosures

For Tim Seymour Fast Fire
Seymour had no disclosures in (JASO) or (TSL) on 2/17/2011

For David Wong, Halftime Play Of The Day
Wells Fargo Securities, LLC Is A Market Maker In (QCOM)
(QCOM) is/was a non-investment banking client of Wells Fargo Securities, LLC in last 12 months
Wells Fargo Securities, LLC received non-investment banking compensation from (QCOM) in last 12 months
Wells Fargo Securities, LLC Or Affiliates May Have A Significant Financial Interst In (QCOM)

Comcast Is The Parent Company Of CNBC
Comcast Is The Parent Company Of NBCUniversal
GE Owns 49% Of NBCUniversal
GE Owns 49% Of CNBC

CNBC.com with wires.