banks. there are a lot of people looking to put them in the banks looking to finally do some work between now and the end of the year. i'm looking forward to that. >> all right. cool. lots to look forward to. don't miss it. >> you guys have a great one. kevin, it's been great. that does it for us. all of you have a great weekend. "fast money" starting now. >> it is "fast money" friday. live from the nasdaq market site in new york city's times square i'm melissa lee. yahoo! disappearing from the messaging app, snapchat. that's a company that supposedly turned down a $3 billion offer from facebook. we've got the story coming up. america the great. stocks soaring on the heels of it. that's from a potential march rate hike. yes, it seems like good news is good news again. it wuasn't all great. oil and gold both getting hit.

tim seymour, how do you reconcile what's going on here because theoretically if the economy is strengthening we should have a bid higher for oil. >> the inverse correlation is very predictable. you can take it to the bank and it's at a place where oil has broken through. it was three bucks from the intraday highs. you can step back. all it takes is a decent payroll number to get you back to places we were anyway, but you now have essentially $25,000 per growth. you've got a market where there's not a lot of wamg growth. the reason they were getting hit is the feds were back in play. it's only back in play if the economy is on stable footing. if you look at where we are, i think you get a place -- it sets up where the dollar is a little over brought. i think it gets to place where risk assets amid emerging markets.

some of the miners, i don't believe as much on the gold side. this is where you have a place to play for a few days. even though, i repeat. the world is not a bad place, it's a good place. >> where were you trading today, pete? >> you look at the financials. what i like about today's trade is it got focused back on the u.s. i continue to think so. i continue to think it's the best place to trade as well. you look at the transports, the industrials. the strength that we've seen. finally the focus came off all the different hot spots, whether it's the ukraine, middle east, you name it. somewhere there's a hot spot all over the rest of the world, but the focus today was back on the u.s. the numbers looked pretty solid. you loved to see the volatility index. not closing above 17 this entire week despite all this volatility and today finished underneath 14, 14 1/2 somewhere this that

range tells me a lot about the sentiment and how quick it can turn. >> talk about the small caps. today we also had a pretty decent session. >> yeah, you did. it overshot -- one away was my level. i got to 107ish yesterday. trading was pretty staggering. probably traded close to 150 million shares or so. that proved to be a pivot. you saw the reversal yesterday and today. i think now it's tradeable from the long side. i think you can play this on the longside for a little while. i thought the s&p would get town to 1904. didn't get that close. that reversed. 1970 was support. what's support becomes resistance. >> a bought the small caps today. i think that's the place to be. part of the reason it's down is you have a weak global economy.

so if the u.s. is the best place to be and we've talked about this a lot, then russell is your play on that. whether you're going to get a stronger dollar or it goes into a little bit of a correction which i think we're probably getting close to, russell is where it is. not only that it's a great risk reward. the whole game is about a great risk reward. if it breaks down, then i'm out. i'll do that every day and twice on sunday. >> what were you trading? >> the one thing i believe is it's something you have to trade actively. i have my portfolio. when we go the spike this morning i actually shorted it some again. i talked about it when i keved it when i thought we hit low. now, you can never time this perfectly but this is where we call lower portfolio. i think we're going to see more pressure back here in a couple of days.

at the same time i talked about how i bought the eem or eem proxies at the same time. i actually think there's more upside in a beaten down eem. i don't think you can go that much higher. i would rather on a day of strength be selling into that. >> if you think the economy is strong, why can't the small caps go higher? >> i think it comes down to valuation. they're still expensive to the s&p and i don't think you're getting kind of dif denld which is a buffer and for me that's why i love big cap in this market. >> let's talk about the market. the dollar index hitting its highest level since 2010. it raises some currency concerns with heavy foreign exposure including names like mondelez, yum! brands. we've seen some extremists. particularly dollar euro rowewe-

in the corner. >> you think the growth will outkwa it. go back to the place where you're the most defense itch chl go back to consumer staples, u.s. focus, companies that have no exposure. it's kroger. this is a company that's coming out of a difficult period and has been kicking it. these guys have this as one of their top picks. you have a company that's beating whole foods and some of the other organic guys at their own game. i think it's a very offensive stock. >> i'm going to go with chipotle. they're in u.s. and have exposure in canada. when you look at the company, double digit earning growth. they have room to grow outside or within the united states. i look at them, see the

valuation and understand some of the concerns folks have. i like also jacks which guy adami is going to look as well. when you look at the companies, i think right now, strong dollar, they don't seem to be in the same category. >> that doesn't concern you where people might be selling this stuff that's frothy? >> but not here in the u.s. i look at them with the growth as long is that sustain that growth, i'm not concerned about it. >> come in here with jack. >> jack. >> we goof around but that's a hidden gem. he likes chipotle for obvious reasons and he adds. jack in the box is expensive as well but embedded within jack in the box is cato ba. their comps have been great as well. every quarter they smoke it based on cato ba.

i think jack in the box gets you done. >> extra chicken, no beans and no toma tas. >> they completely rip off the chipotle menu. they're fast and casual. >> just like you. >> fast and casual and everyone in between. >> what's your strong dollar? >> we need to be careful. generally speaking they do not move this quickly, this fast. i'm starting to looking a places where they might have been commodities that hit on the dollar. xop is my play because i want to be a little more gassy than

oily. >> stay away from chipotle. >> excuse me. anyway, my point is in particular, one, the gassy space, the natural gas, actually looks fairly good and then when you look at the oil space, oil at around $85 a barrel, wti, that's where you start to get into cost of production for the u.s.-based oil. you have somewhat there. it's great risk reward to buy xop. >> i think given the choice between gassy and oily i think gassy. >> i'm not sure about that. >> no? >> if you're not giving me a trade, i'm moving on. i'm going to break. apple, the company's expected to have an ipad event in two week bus be've got somebody who says a product already announced the

product. and we have marissa's disappearing act. we've got the latest on yahoo! comes up next. your aspirations, our analytics. your goals, our technology. introducing synchrony financial, bringing new meaning to the word partnership. banking. loyalty. analytics. synchrony financial. enagage with us.

an unprecedented program arting busithat partners businesses with universities across the state. for better access to talent, cutting edge research, and state of the art facilities. and you pay no taxes for ten years. from biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo... startup-ny has new businesses popping up across the state. see how startup-ny can help your business grow at startup.ny.gov

that's guy dancing by the way. that's the extent of his moves. >> awful. >> a huge day for the markets but apple shares remain flat despite a new report out saying apple will host an event for the ipad on october 16. meanwhile apple having trouble getting their item off the ground. let's bring in brian blair. he joins us on the fast line. brian, great to have you with us. >> thank you. >> it's amazing for a product that has not come out that it's been delayed. what's the situation? >> i think it's showing how difficult it is to make. it with us going to be october, november, now we're told they won't start making it till january. they're showing how difficult it is to make. it's not easy to do. >> so it gets released sometime

in february or march? that seems like no man's land when it comes to consumer electronics. >> that's right. they're not going up any products that they have. the market itself is still so new there's really no right time of the year for this product to come out because it has. existed yet. it's a strange period. it looks like right now february is the best shot. >> you say they're doing this to address some of the concerns like the battery issue. if they are, in fact, addressing the battery issue, having to plug it in all the time, does that cause you to be optimistic about the number of watches that they can actually sell? >> it does because what we believe right now is that these changes they're making are internal changes. nothing on the outside. the battery is going to be a big issue. even though they did not officially announce it, the word

is this battery lasts for about a day. that's going to be a problem for a lot of consumers, if they can talk two days, three days where you don't have to charge this every single night before you go to bed, that will bring more consumers. >> i want to bring you up to date. we had bendgate and now hairgate. there are a lot of people tweeting. if you buy an iphone 6 you'd better be totally bald. this is an iphone 6 i have in my hand. there's a seaming issue so your hair getting caught and yanks the hair out. >> ooh. >> i think that this is similar to bendgate sits. i thought it was very interesting that they sold ore 10 million units and they said they had nine complaints of it bending. i think the hairgate is something similar. any sniff that there's a problem

with it or consumers aren't satisfied gets a lot of press. it speaks to how high quality this is. we don't hear about it a lot. >> all in all, how are you feeling about the stock because of valuation. apple has had a tremendous run this year. >> i'm still bullish. thing that was very premature to downgrade it here. nobody knows how big the december quarter can be. we have a pretty optimistic read because we have a pretty decent production view of how many they're making. nobody knows the december iphone number and nobody's talking about the march i phone number and so until you can get your hand around those, you can't stay this stock is over. i remain bullish and we're going to see an incredible december. so until i see things slow down fundamentally, i'm on the long side. >> appreciate. pete, just so you know because

you might actually get a new phone, apparently it's also a problem with beards that there's also #beardgate. for instance the beard can get caught. anyway, apple trade. >> i think these things are all ridiculous. i'm still questionable about the watch itself but i think the 6 plus cannibalizes the i mag mini. you're going to see some of that. all that being said, i think it going be incredible. i think the numbers will be outstanding. >> i think it's going to be a problem for hipsters in bro brooklyn. >> skinny jeans -- >> i said i think we'll probably trade sideways for a month or so until we figure out all these

things but ultimately it should do fine. >> i'm in the 88 camp. close above 103. g at the, a name we were talking about. i was wrong on that. guess what? it tladed below. >> time for pops and drops. big mover. tim. >> some of this is risk reward after a big pullback. some of it is referenced to sol if you boil it all together what do you think is happened in the solar space? don't jump in tomorrow but the stock to look at. >> its mobile messenger app is in the early development statements. >> they're talking about the professor working out some of that. think mostly it's really reacting to the market right now. i do thing there's upside in google. it's 96% of this company is

still all about advertising dollars. i think they're doing well. >> they're getting cold. >> gold got crushed. i will say gold is at a critical critical spot here. on spot at 1 1.75. >> giant pop for tekmira. >> we said it's likely it trades up. we said the stocks should go higher. it has. if you've enjoyed the profits i would say take at least half off the table? and we've got a pop for the "baywatch" movie. this is your chance to see the show running on the big screen. one of the world's most hot watched shows.

solid at the rock dwayne johnson who's starring in the film. >> you know who's bag baywatch fan? >> he wears a shirt that says don't hassle the hoff. >> you're a fan for one reason. >> i like it a lot. >> pamela anderson. >> i'm a surf guy. >> there you go. that reason. those reasons. >> what does that mean. >> i don't know. >> let's talk about unusual activity. >> unusual activity. we talk about some of these big cap tecks. still think that's where the growth is. tim mentioned yield. take look at a name like emc. october 24th expiring. 5,000 of these trade today.

huge activity and a monster role. when you see all this kind of paper it tells me that emc is ready to do something to the upside. i think they ear going to establish new highs. >> it is in play. >> it's in somewhat of play, sure. >> you're in it. >> i bought the calls. >> choosing marissa mayer over mark zuckerberg. we've got the latest and what it means for yahoo!'s stock.

yahoo! and messaging chats.

they're about to buy another startup message me. >> i'm a shareholder of yahoo!. i think it goes higher, but this is exactly what people are concerned about. if they're going to pay -- if they're going to pay more than what facebook was going to pay, presumably that's going to be the case because they turned down $3 billion, ides rather have then return the money to the shareholder. i'm in it but not a huge fan of the deal. >> it's just an investment and they did the same thing for alibaba. look how that turned out. >> they own a lot of internet names in businesses they used to dominate so i think this is positive when people are worried about the next dollar spent. this is actually safe money. it's a proven game. >> next up, shares of palo alto up after getting an increase from mcafterry.

guy adami. >> that's exactly right. you can have more head lines like this. you had that sidebar ipo a couple of weeks ago. the space is in play. i don't think it's that expense ichb. we bought the stocks for a while. you and beakes and -- >> it's the machlt that's the problem there, right? we have a management that sells at the top and doesn't tell you that and then continues to hit bids all the way down. that's not a management you can trust. that's the problem you have here. >> we're going to get to our final trade. let's go around the horn. tim seymour. >> let's go back to kroger. this is a stock with catalyst and defensive. >> pete. >> i like emc, everything they own within themselves, i think this thing trades too cheap. i think that's why they're

buying. >> beakers. >> if you are turned off by being too gassy, go to the oily side. >> those glasses -- that's crazy, that look, right? >> crazy good, right? >> that's clarifying. >> medtronic. >> look at that guy go. >> that does it for us here on fast. thanks so much. we'll be back here on monday at 5:00. don't move now. "options action" starts right after this break. have a great weekend.

if you were a denture? take this simple test. press your tongue against it. like this. ahh! it moves, unlike natural teeth. did you feel it? it can happen with every denture. introducing new fixodent plus truefeel. it helps keep denture firmly in place, with its smooth formula free of flavors and colorants. so you get a closer feeling to natural teeth. new fixodent plus truefeel. fixodent. and forget it.

tonight, lift off. we'll tell you why tonight's bounce could be the end of a vicious rally for stocks. plus, do you think this is wild? wait till you see how much money options traders made on gopro this week and show you how you can do it too. and follow the money. >> "x" marks the spot. >> because serious traders are making massive bets on a little watch. we'll tell you what it is and how you can profit. "options action" begins