NEW YORK (TheStreet) -- The Dow Jones Industrial Average posted a gain on Monday, closing higher by 0.26%. However, the Nasdaq slid 1.07%.
On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, noted the iShares Russell 2000 ETF (IWM) fell lower than the Nasdaq, down 1.15%. He said the exchange-traded fund is likely headed to $108.
Tim Seymour, managing partner of Triogem Asset Management, said emerging market equities have also been selling off more than U.S. equities, down roughly 5% since the beginning of September. Momentum and growth stocks are the ones currently selling off in the U.S., he said.
Read More: 10 Stocks Carl Icahn Loves in 2014
Dan Nathan, co-founder and editor of riskreversal.com, reasoned that growth and momentum stocks such as Tesla Motors (TSLA) , which fell 9%, are seeing selling pressure because investors are freeing up cash for the upcoming Alibaba initial public offering.
Adami said the stocks sold because of Alibaba seem likely to rebound in the days after the IPO. However, he said Tesla could decline to $225.
Robyn Karnauskas, biotech analyst at Deutsche Bank, said biotech stocks are "still the place to be" for investors. The industry offers 300% more growth than the S&P 500, but only trades at a slight premium to the index. She continues to like large-cap biotech stocks such as Gilead Sciences (GILD) , Celgene (CELG) and Regeneron (REGN) . One small-cap name she likes is Achillion Pharmaceuticals (ACHN) .
Adami is a buyer of Celgene but said Gilead and Regeneron are not expensive stocks either, based on valuation.
Finerman, who is long the iShares Nasdaq Biotechnology ETF (IBB) and the SPDR Biotech ETF (XBI) , said it has been a volatile ride, despite owning ETFs, which diversifies holdings across a number of different stocks.
Adami called shares of Darden Restaurants (DRI) "absolutely buyable." The stock has a 10% short interest, 5% dividend yield and support near $45. Finerman added that "there's a lot of opportunity" in shares of Darden Restaurants. She is also a buyer.