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'Fast Money' Recap: Watching China

NEW YORK (TheStreet) -- The S&P 500 continued lower on Monday as some investors locked in profits after a strong 2013. 

On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, suggested that Italy and France contracted based on PMI readings. He added that the ISM services index also declined in the U.S., which is something for investors to keep an eye on. 

Tim Seymour, managing partner of Triogem Asset Management, said the Chinese ISM non-manufacturing reading came in lower than expected, but is not that important of a data point. He added that the import/export numbers would be key to watch for China. 

Guy Adami, managing director of stockmonster.com, stressed that first-quarter earnings would be very important for the equity markets. He was a seller of Caterpillar (CAT)

Must Read: 'Fast Money' Recap: Wait til Next Year

Despite the year starting off a bit rough, Josh Brown, CEO and co-founder of Ritholtz Wealth Management, suggested investors not make too big of a deal about the slight selloff.  

Rob Maruster, COO of JetBlue Airways (JBLU), was a guest on the show. Due to the weather issues in the Northeast and Midwest, JBLU has been forced to delay and cancel many of its flights. Maruster said the plan is to be fully operational by 3:00 p.m. EST Tuesday. 

Adami said that although the stock has not had good price action lately it seems to be at a level where investors can buy it. 

Seymour said he is a buyer of United Continental Holdings (UAL) and Delta Air Lines (DAL)

Kelly suggested that investors do not trade airlines stocks based off weather, (JBLU was down over 4% on Monday). Specifically, he said JBLU needed to hold $8.25, otherwise it was headed to $7.50. 

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