NEW YORK (TheStreet) -- The S&P 500 closed lower as unrest in Ukraine has investors concerned.
On CNBC's "Fast Money" TV show, Tim Seymour, managing partner of Triogem Asset Management, said the stock market traded better than he expected. However, he's not yet a buyer.
Brian Kelly, founder of Brian Kelly Capital, questioned how these events would affect the global economy. He is a buyer of gold, and also pointed out how weak the European markets were on Monday, with the DAX closing lower by 3.44% and the CAC 40 closing off 2.66%.
Karen Finerman, president of Metropolitan Capital Advisors, was pleasantly surprised with how well the U.S. market traded on Monday.
Guy Adami, managing director of stockmonster.com, said Monday's trading results should have been much worse. He added that the strong bond market concerns him about the stock market. Specifically, he said Lockheed Martin (LMT) - Get Report and Anadarko Petroleum (APC) - Get Report both look good on the long side.
Seymour said crude oil and brent crude oil are not breaking down but could be breaking out to the upside.
Kelly pointed out the strength in commodities, which has been present even before the current issues in Ukraine arose. The rapid rise could start affecting individual companies, especially restaurants.
Dennis Gartman, editor and publisher of The Gartman Letter, said investors should stay long the grain market while gold appears to be breaking out. He added that crude oil also looks like it will continue higher. Regarding U.S. equities, he said it's still in a bull market and suggested buying the dips.
Seymour said gold is still in a bear market and he would consider taking profits. Adami agreed but suggested that it's not too far from breaking out of its downward trend.
Kelly said he was a buyer of BlackBerry (BBRY) .
Adami said that if Caesars Entertainment (CZR) - Get Report breaks below $25, it could quickly move to the high-teen prices. The company reports March 11, and he suggested avoiding the name until then.
Stratasys (SSYS) - Get Report beat on top- and bottom-line earnings estimates. John Bichelmeyer, portfolio manager of Buffalo Funds, is a shareholder in the company. He likes Stratasys's new products, which should drive future revenue. He also pointed out the company's expanding margins, which should bode well for future results. He added that the company's MakerBot product blew away nearly everyone's expectations and should continue to do well.
Kelly said he loves the 3-D industry over the long term but could not justify the current valuation of the stocks. He wanted to avoid them until they have a deeper pullback.
Seymour said SolarCity's (SCTY) accounting issues are a concern but he suggested staying long in the meantime.
Austin Schwab and Julian Marchese, co-founders of Leaders Investment Club, were guests on the show. Schwab continues to like U.S. and European equities, while Marchese said he is a buyer of the SPDR S&P 500 Trust ETF (SPY) - Get Report on dips. Marchese also said he is a small seller of gold and U.S. Treasury notes.
BlackBerry popped 4%. Seymour said he would avoid the stock in the short term but is a long-term buyer.
Dendreon (DNDN) soared 15%. Adami said the stock is boom or bust -- meaning the stock could potentially triple or be worthless in the future.
Larry McDonald, senior director at Newedge, said developed equity markets, such as the U.S. and Europe, have become the "safe haven" trade for global investors. However, if China loses control of its currency, then the developed markets would actually take a hit. Despite China being considered an emerging market economy, McDonald suggests that emerging markets would not be affected as much because so much negatively is already priced in.
Seymour is not yet a buyer of Lorillard (LO) but said investors should watch for a pullback to buy.
For their final trades, Seymour is buying Starbucks (SBUX) - Get Report because it has a solid hedge against rising coffee prices. Kelly is buying the SPDR Gold Trust ETF (GLD) - Get Report. Adami is a buyer of Cedar Fair (FUN) - Get Report and Finerman said to sell put options on the SPY if the market opens lower on Tuesday.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.