NEW YORK (TheStreet) -- The broader markets opened higher before eventually caving to selling pressure, closing at the lows of the day.

As the 10-year Treasury yield continues to rise, Pete Najarian said on CNBC's "Fast Money" TV show he doesn't think rising rates will kill this year's rally in equities.

Instead, he said it should create great buying opportunities, especially in names that have been oversold such as Mosaic ( MOS - Get Report).

Steve Grasso said the rising rates should help online brokers such as E-Trade ( ETFC - Get Report) and Charles Schwab ( SCHW - Get Report), while harming the utility stocks.

Jim Lebenthal said rates can't go too much higher because they are not rising due to inflation. Eventually, they will have to come in a bit since the Federal Reserve has interest rates pegged so low. He added that he was a buyer of oversold stocks.

Josh Brown said he would avoid the homebuilders, despite the potential value that exists. He added that while the companies might not actually be that bad off, the perception from the market is to sell.

In celebration of Google's ( GOOG - Get Report) ninth anniversary as a public company, Brown said he was a buyer and thinks the stock will top $1,000. He added that it has a lot of support around $845.

Grasso agreed, saying he still believed in the stock although he sold about two-thirds of his position and is waiting for the stock to decline a little more.

Lebenthal said he prefers tech names that have been beaten up a bit more, such as Apple ( AAPL - Get Report), which was the first stock on the show's "Pops & Drops" segment. He added that the carl Icahn position has given a lot of investors on the sideline a reason to jump in on the long side.

Intel ( INTC - Get Report) popped higher on Monday from an upgrade. Brown said this was a great chance for investors to exit their positions because the company has few positive catalysts in the next 12 months.

Dollar General ( DG - Get Report) was up 3% and Najarian said he continues to like the space, especially if the economy takes a turn for the worse.

Grasso said he really likes the 3D printing company Stratasys ( SSYS - Get Report), which was up 6% on Monday. He added that Hewlett-Packard ( HPQ - Get Report), which once showed interest in the new technology, should get much more serious about the industry.

Lebenthal defended Caterpillar ( CAT - Get Report) on the show's "Street Fight" segment. He said the negative Chinese news for Caterpillar is about a year too old. He added the stock is inexpensive, gives a solid return to shareholders and has good long-term management.

Brown admitted the stock was cheap, but for good reason. He cited the company's lower full-year guidance, dropping second-quarter operating profits, and the lower highs the stock has been making since May.

Home Depot ( HD - Get Report) reports earnings on Tuesday before the open. Grasso said this is his top retail, home improvement and housing play. He likes it on the long side.

Best Buy ( BBY - Get Report) is up 160% on the year and also reports earnings on Tuesday morning. Brown said he doesn't like the trade going into the report.

Citigroup ( C - Get Report) failed to take out its May highs and has underperformed the Financial Select SPDR ETF ( XLF - Get Report) for the last 10 days. Therefore, Brown said he is a buyer of Bank of New York Mellon ( BK - Get Report) instead.

Najarian said he would not be looking at the 2015 call options for Qualcomm ( QCOM - Get Report), but would instead focus on the shorter-term call options that expire before January 2014.

Grasso said he loves Disney ( DIS - Get Report), but the chart doesn't look so good. Instead, he suggested traders look at Lions Gate Entertainment ( LGF).

Lebenthal said to leave the ProShares UltraShort 20+ Year Treasury ETF ( TBT - Get Report) alone and that the trade has already passed.

For their final trades, Grasso said he's a buyer of Pandora ( P) and Brown is a buyer of Bank of New York Mellon. Najarian was buying Spectra Energy ( SE - Get Report) and Lebenthal said to buy refineries.

-- Written by Bret Kenwell in Petoskey, Mich.

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.