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NEW YORK (TheStreet) -- It opened lower Monday but the S&P 500 quickly rallied off its session lows and finished up nearly 1%. "It's all systems go," Tim Seymour, managing partner of Triogem Asset Management, said on CNBC's "Fast Money" TV show. 

Risk assets are still performing well, he said, pointing out the iShares MSCI Emerging Markets ETF (EEM) - Get iShares MSCI Emerging Markets ETF Report climbed 1.3% on the day. The dollar can continue lower while other investment opportunities in Europe and commodities continue higher. Seymour also likes financial stocks. 

Karen Finerman, president of Metropolitan Capital Advisors, also likes financial stocks, but added that investors should consider protecting their portfolio while the CBOE Volatility Index I:VIX is so low. 

When looking to buy protection, investors should buy put options on the SPDR S&P 500 ETF (SPY) - Get SPDR S&P 500 ETF Trust Report when volatility is low, added Pete Najarian, co-founder of optionmonster.com and trademonster.com. 

Just because the financial stocks have low valuation doesn't mean investors should buy them, argued Dan Nathan, co-founder and editor of riskreversal.com. He said the bullish catalyst behind buying financials was the idea of rising interest rates. But a worse-than-expected jobs report means a hike is likely to be delayed, which is bearish for the financials, he said.  

Gold climbed to a seven-week high and Dennis Gartman, editor and publisher of The Gartman Letter, remains bullish on the metal. However, because the euro and yen continue to decline it is most advantageous to the own gold in those currencies. 

On oil, Gartman says he's "very impressed" with Monday's 5% rally. The futures contracts are pointing to a more bullish environment and the bottom looks to be in, at least for the near term, he reasoned. 

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Gold can climb to $1,300, but will likely find resistance, Seymour said. It could drop down to $1,100 if the dollar continues to rally. 

It will be interesting if oil can break out of its $48 to $52 range, with the commodity trading near $52. Najarian added. In any regard, integrated oil companies such as ConocoPhillips (COP) - Get ConocoPhillips Report, Chevron (CVX) - Get Chevron Corporation Report and Exxon Mobil (XOM) - Get Exxon Mobil Corporation Report, are all trading really well.

Tesla Motors (TSLA) - Get Tesla Inc Report stock soared 6.3% on Monday to $203.10 after reporting first-quarter deliveries climbed 55% year-over-year. Nathan wondered whether the company's margins took a hit, as perhaps it started selling its vehicles at a discount in order to hit those numbers. However, the stock could become a buy if it pulls back to $190. 

While the stock held support at $180, it has continued to find resistance at its 50-day moving average Najarian said. Investors shouldn't chase the stock after Monday's move. Seymour agreed.

The traders were asked to choose between Apple (AAPL) - Get Apple Inc. Report and Intel (INTC) - Get Intel Corporation Report. All took Apple. Nathan cited the company's strong iPhone sales and potential to return more capital, while Najarian said he likes Apple's strong balance sheet and diverse products.

They were then asked to choose between Facebook (FB) - Get Meta Platforms Inc. Class A Report and Paychex (PAYX) - Get Paychex, Inc. Report. All four traders chose Facebook. Finerman noted both stocks have high valuations but Facebook has superior growth and good momentum. Seymour added that there is a lot of excitement around its video ads and Nathan believes the stock could breakout to $90.

For their final trades, Finerman is a buyer of Google (GOOGL) - Get Alphabet Inc. Class A Report and Seymour is buying BRF-Brasil Foods (BRFS) - Get BRF SA Report. Nathan is selling Microsoft (MSFT) - Get Microsoft Corporation Report and Najarian said to buy the WisdomTree India Earnings ETF (EPI) - Get WisdomTree India Earnings Fund Report.

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