Fast Money Picks For March 8

On CNBC's Fast Money Final Trade, Tim Seymour said that it is time to take a short position in iShares Russell 2000 Index (ETF) IWM.

Steve Grasso would buy Restoration Hardware Holdings Inc RH, if it trades above $41 and stays there for three days.

Dan Nathan is a seller of Materials Select Sector SPDR XLB.

Guy Adami thinks that Urban Outfitters, Inc. URBN is going higher from the levels it reached in the after-hours trading. The stock jumped 12.25 percent in the after hours on better-than-expected earnings.