NEW YORK (TheStreet) -- The S&P 500 closed higher on Monday after selling off last week. However, some investors are skeptical of the rally -- Monday marked the second-lowest volume day of 2014. 

On CNBC's "Fast Money" TV show, Dan Nathan, co-founder and editor of, said investors were definitely worried on Friday going into the weekend, which made Monday's relief rally not all that surprising. 

Steve Grasso, director of institutional sales at Stuart Frankel, pointed out the Federal Reserve's FOMCwill release its statement on Wednesday. No one is selling aggressively ahead of the event, he argued. 

Guy Adami, managing director of, said the recent economic data have been "mixed at best." He added that this week could be an important "tell" on whether the S&P 500 makes new highs above 1,880 or if it breaks down to 1,818. 

Brian Kelly, founder of Brian Kelly Capital, said he is a short-term buyer on pullbacks because Chinese, Russian and Crimean issues are "off the table" right now.

Grasso said he wouldn't be surprised to see the S&P 500 trade up to 1,900 before selling off. 

Adami said he likes U.S. Bancorp (USB - Get Report), Blackstone (BX - Get Report) and F5 Networks (FFIV - Get Report) on the long side. 

General Motors (GM - Get Report) announced that it will recall 1.2 million vehicles due to an airbag issue. This is on top of the previously announced 1.6 million vehicle recall for ignition switch issues. Despite this news, the stock traded higher on Monday. 

Kelly said investors could buy GM for a trade since it looks like it could rally from current levels. However, if investors aren't looking at GM because of company-specific issues and want a stock based on potential auto market strengthening, buy Ford (F - Get Report). 

Nathan said shares of GM could trade up to $37 if the company reports strong March sales results. He is long in-the-money call options. 

Adami said shares of Ford have not traded well. He was a buyer of GM at current levels and suggested that investors use $34 as a stop-loss. He also liked BorgWarner (BWA - Get Report) and Delphi Automotive (DLPH - Get Report).

Tom Gutierrez, president and CEO of GT Advanced Technologies (GTAT), said the company's deal with Apple (AAPL - Get Report) will negatively affect margins but should overall be viewed as a positive for GTAT. He added that the biggest issue with solar power is costs, and his company is working on bringing those costs down. He suggest the market is "on the verge of a self-sustaining solar industry." The stock is up 97% for the year to date. 

Kelly said the company has several potential game-changing products on the way. For investors, use a stop-loss at the last "consolidation" level (currently in the low-$16 range) and trail it higher as the stock price moves up. 

Nathan was a seller of Yahoo! (YHOO). He cited the resistance level near $40, and said the Alibaba initial public offering seems like a "sell the news" event. 

Under Amour (UA - Get Report) announced a 2-for-1 stock split. Grasso is not a buyer of Under Armour or Nike (NKE - Get Report), since the stocks both look "toppy." 

JA Solar Holdings (JASO) fell 2% and was the first stock on the show's "Pops & Drops" segment. Kelly said to take profits and wait for a pullback to buy again. 

Herbalife (HLF - Get Report) dropped 8%. Adami said he would not touch the stock on the long or short side. 

Qualcomm (QCOM - Get Report) climbed 3%. Nathan said the stock looks to be breaking out. 

VeriSign (VRSN - Get Report) fell 6%. Grasso said the stock looks to be in "free fall." He was not a buyer at current levels. 

Dennis Gartman, publisher and editor of The Gartman Letter, said investors should be pleasantly long equities -- but not very long -- at current levels. He reminded the trading panel that it's still a bull market and the moderate pullbacks should be viewed as buying opportunities. 

He is a buyer of gold and a seller of crude oil, saying crude could decline by another $4 or $5 per barrel. He is also selling long-dated Treasuries and buying 10-year Treasuries. 

Kelly said investors could buy the iShares MSCI Emerging Markets ETF (EEM - Get Report) at current levels. 

Michael Werner, senior research analyst at Sanford Bernstein, is analyzing the Chinese financial system. He said that while it's "murky," it's also quite simple. He added China has a different type of leverage or derivatives from what U.S. banks were using during the financial crisis in 2008. He said there shouldn't be a liquidity crisis in the region or a global ripple effect if there is an elevated level of defaults.

Adami said the Chinese financial system "scares him" and perhaps others but U.S. investors have yet to start selling on those China concerns.

Brian Marshall, an analyst at ISI Group, has a strong buy rating on Apple with a $600 price target. He said Apple is behind the curve when it comes to new smartphones. However, because it has created its iOS "ecosystem," the company has continued to do well. Currently, about 9% of iPhone users upgrade each quarter, but he suggested that number could jump to 15% after the introduction of the iPhone 6. He thinks  the company could maintain gross margins in the 30% range. 

Adami said Apple's stock could get to $600 but noted it "doesn't trade well" and has underperformed the S&P 500 for 18-months. He added that there is support near $525. 

Nathan said Apple holds up well when the market is selling off. He also pointed out the company has a big share buyback and a solid dividend. Grasso disagreed, saying he would sell Apple if he was long. 

Kelly said he was a buyer of Microsoft (MSFT - Get Report) because of its future products and solid 3% dividend yield. Nathan added that investors' bad sentiment and the stock's favorable technical setup could push shares higher on any trace of good news. 

For their final trades, Adami said to buy Hexcel (HXL - Get Report) and Grasso is buying General Motors with a stop-loss at $33.50. Kelly said to buy Advanced Micro Devices (AMD - Get Report) and Nathan is buying Microsoft. 

-- 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.