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'Fast Money' Recap: Referendum on July

In the under the radar segment, Lee touched on the rise in ag stocks. Seymour attributed the rise in such stocks as Potash (POT) to the drought in Russia and extremely wet conditions in Brazil. Terranova added that the ag stocks will go higher as oil moves higher.

Lee noted that Herbalife (HLF) was up a hefty 8.7% after beating estimates and raising its forecast and dividend. Patty Edwards said the company can't go wrong as it enjoys growth in both the established and emerging markets.

Chartologist Carter Worth noted that both the S&P and Nasdaq are close to recovering to their 150-day moving average levels. He said that's about the time the investors who lost money in the last selloff emerge to sell. He said he doubts whether the market can tack on another 9% to the rally.

Looking ahead at Tuesday's headlines, Najarian liked Research In Motion's (RIMM) push to innovate, with its release of a new operating system, 9800 slider smartphone and a black Pad.

Kelly didn't like Procter & Gamble's (PG) chances of doing well in its earnings considering how the consumer staples sector has underperformed.

Lee brough in Itay Michaeli, a Citigroup, to talk about the auto sector. He was bullish on the sector, noting July auto sales are up to a seasonally adjusted 12 million units. He particularly liked Borgwarner (BWA) which said its operating margins will exceed 9% next year.

Lee brought in Tony Holcombe, CEO of Syniverse Holdings (SVR), which provides technology services to wireless telecom companies. The stock was up more than 5% on soaring revenues and raised guidance.

Holcombe said the company was doing well in its roaming and messaging service business. He also said the company serves two big companies, Sprint (S) and Verizon (VZ), and enjoys a customer retention rate in the high 90 percent.

David Riedel, of the Riedel Research Group, put a positive spin on China's CMI numbers. He said China has done a good job of gliding the economy down while avoiding a meltdown. He said he is staying away from the energy space and sticking with consumer-related companies like China Mobile (CHL).

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