The S&P 500 ETF (SPY) - Get Report narrowly avoided closing lower for the fifth straight session on Tuesday. However, that doesn't mean investors are out of the woods just yet. 

On CNBC's "Fast Money" program, Tim Seymour, managing partner of Triogem Asset Management, noted that the recent Chinese economic data hasn't been all that great. He also reminded investors that in August, China was the main catalyst that drove U.S. stocks drastically lower. 

However, Seymour still finds the Chinese consumer story attractive and for that reason, he is a buyer of certain Chinese stocks on pullbacks, including China Mobile Limited (CHL) - Get Report , Baidu (BIDU) - Get Report , Alibaba Group Holding  (BABA) - Get Report and Tencent (TCEHY)

While some U.S. consumer companies are doing very well in China -- think Starbucks (SBUX) - Get Report , Nike (NKE) - Get Report and Apple (AAPL) - Get Report  -- that doesn't mean Chinese consumers as a whole are doing well, according to Dan Nathan, co-founder and editor of riskreversal.com. He also pointed out that industrial stocks with exposure to the region are suffering. 

Although many of the industrial and material stocks have underperformed over the past few sessions, Karen Finerman, president of Metropolitan Capital Advisors, found a bit more optimistic way to view the situation. Given that many of these stocks had a very impressive rally in October, a modest pullback isn't unrealistic. 

Finerman said investors shouldn't overanalyze the recent pullback. For her personally, she will not try to sell out of her long positions just to buy them back at slightly lower prices, as it's not worth the risk, she added. 

The U.S. dollar seems likely to continue rallying, according to Guy Adami, managing director of stockmonster.com. This should put downward pressure on emerging markets and commodity prices, which will of course weigh on commodity-based companies, like Freeport-McMoRan (FCX) - Get Report

Seymour also expressed concern for Glencore (GLCNF) and ArcelorMittal (MT) - Get Report .

Shares of Apple (AAPL) - Get Report sank 3.2% on Tuesday on concerns that the company has dialed back its component orders. 

Just because an analyst may have observed a slowdown in orders, does not mean that is the case, Adami said. Apple can move freely from one supplier to the next, and so that could explain why it appears orders are slowing, even if that's not the case. 

Finerman agreed, adding that there is not a lot of transparency between Apple and its suppliers, at least in the public's eyes. Investors have seen this kind of story before and they shouldn't read into it too much. 

Carter Worth, technical analyst at Cornerstone Macro, says Apple is running into resistance near current levels. If the stock fails to break through this level and falls below support, the stock could drop toward $100 per share. 

The conversation turned to solar stocks, as shares of SunEdison (SUNE) plunged 22% on the day over liquidity concerns, pulling down other solar stocks like SunPower (SPWR) - Get Report and SolarCity (SCTY)

Shares of SunEdison are now down 80% over then past six months, and Larry McDonald, head of macro strategy at Societe Generale, doesn't share a very rosy outlook. 

Investors should look for some red flags, which starts when the company's total enterprise is comprised of more than 60% to 70% debt. In other words, if the stock's market cap makes up less than 40% of the overall pie, investors should be wary. 

In SunEdison's case, the company has $5.8 billion in debt and an equity market cap of $1.8 billion, or just 23.7% of the total, McDonald said. One year ago, 60% of the total was comprised of SunEdison's equity market cap, he added. 

For comparison, SolarCity's debt stands at $2 billion vs. $2.5 billion in equity market cap and First Solar (FSLR) - Get Report stands at $200 million in debt vs. $5.5 billion in equity market cap. 

Investors should also keep an eye on the short-term debt, debt that matures in one to two years. If the yield on short-term debt starts to eclipse the yield on longer term debt, even three and five year notes, than that is another big red flag, McDonald warned. 

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