fast money is coming up in just a few minutes with melissa lee and the gang. >> a crazy week in the markets, but get ready because another week is coming. so we're going to be trading all the big events including some big earnings names tonight. >> over to you guys. >> "fast money friday" starts right now. live from the nasdaq market site. our traders tonight or -- ceo jeff bezos is in the hot seat. some hedge funds are looking at the stock as a potential activist play. we've got the details coming up. tonight's top story, the rally that just won't quit. the new case of ebola today could not shake the markets. turning in the best week of the year. can we trust this rally? take a look at the gains. they are amazing. the qs were up, are we climbing this wall of worry here? >> i thought it would stop in 1904 on the s&p, i was obviously wrong. it's pushed away that.

some of these single stock names have been unbelievable. we talked about celgen in the green room, another all-time high. yahoo! feels like it wants to go to 45. amazon will have a tradeable bottom. we have j.j. flash to talk about that. >> pete najarian? >> i agree with guy. a little bit of a surprise how fast the snap back game. when the earnings are coming out, when you go through what the earnings have been over the last week or so, the good earnings they sold them off anyway. a lot of that was ebola. when we saw the oil really dragging down the market, that pulled down some of the good stocks as well. created opportunities. whether it was in the airlines or even in the financials. look at the turn we got out of goldman sachs from last week trading at the near 170 level and now at 183 again. the pops we've gotten out of these have been fast, faster

than anybody expected. volatility has come down less than a half. >> what were you buying then? >> in the last couple of four or five trading session, goldman sachs, morgan stanley, bank of america, citi, then in the airline doubling up and tripling up on some of those. that's been the area because ebola, i know it's in the headlines every day, in front of everybody's face, we'll be talking about it later as well. but has that immediately affected the airlines yet? no. i think everybody is looking at oil prices as well. >> the change of tone in just the past couple weeks is remarkable. take a look at semiconductors. so off in a single day? >> that was a ludicrous sell-off point. >> here we are back again. >> the linchpins. now, with oil pulling back again with the move we've had in the market, i would be a seller of these.

a place where you had great snapback rallies. ual, aal, i have to be careful, i have to be clear. after a 4% move in delta you're back at the highs we hit even before going into earnings season. we know this is a sector that's doing very well. not saying that they're broken. i'm saying this was a phenomenal move back up like guy, i think 1970 finally runs this thing out of gas. >> where's your bear suit in all of this? is it still on, in the closet? >> i came into the week long some spy. i sold into the rally. i'm short most of europe, i'm short asia. the biggest rallies happen within bear markets. i've called this the peter pan rally. what i mean is as long as investors believe that something better is in the future, who knows where the stock market goes? i don't know. and that's what happened this week. you saw the ecb come out or leak they're going to buy more bonds

and the market just absolutely ripped. that won't work and eventually the market will wake up to that. we've got 6% of the week. whether you believe me and have a bear suit on or bull horns like petey, take some profits. >> we do have breaking news on ebola. we want to get to meg live outside the hospital. >> on the heels of the diagnosis of the first patient in new york city with ebola, we're getting word that new york and new jersey are increasing the guidelines for travelers coming back into the united states from affected countries in west africa. the two governors saying they've quarantined the health care worker who arrived with a history of treating patients with ebola in west africa. that person had no symptoms but they're saying now health care workers should be quarantined coming back into the united states if they've had contact with ebola patients. the new jersey department of health has made the determination that a legal quarantine order should be issued. this individual is not a new jersey resident. governor christie addressing

that in a news conference just now. >> this is exactly, in my view, what needs to occur in every scenario. new jersey and new york will determine the standards for quarantine since the cdc's standard is constantly changing. >> jfk accounts for about half the people coming back into the united states from the affected countries in west africa. newark is one of the major airports as well. big changes coming from the states here. >> thank you very much, meg terrell outside of bellevue here in new york city. let's talk about how the markets have been able to digest this news. last night i was at a party and talking to a ceo level executive of a major bank here in new york city. he showed me the phone saying that the doctor was positively diagnosed with ebola. i said what was the reaction on the markets tomorrow. he said sell. what happened today? we close on our highs of the session. >> the initial reaction was correct.

marginal returns. sort of like the headlines with the car recalls, same thing. it just becomes less and less effective. but i'll im still of the belieft the headlines will get worse before they get better. pete and tim have been spot-on with the airlines but case in point i think it will affect the airlines because it will affect consumer behavior. >> bringing back to the cruise ships which might be the ultimate petri dish if you're stuck on them. >> more so than a little tube of flying metal in the air where you're trapped in and not any air in there? >> -- reactive to these types of scenarios they performed the worst. you had very good numbers out of carnival and caribbean. these are stocks that rally back and then some. based on the merit of the sector involved, a lot of these people think companies have 400 basis points of up side just on the multiple alone, but look at the move they've had. you're going into a period where they've all told you demand has not been cut off yet.

the headlines could get worse. but headlines have arguably gotten worse. the infiltration of the inevitable new york city diagnosis was bound to happen. and airlines rallied back to recent highs today. >> take a look at amazon. but could the dip in the stock attract activists and hedge funds that have steered clear of the name until now? joining us with more details. joining us cnbc john janeron, otherwise known as j.j. flash. >> they're fed up. this is self-inflicted. these guys can't stop finding stuff to spend money on. . you can't keep doing that. i talked to some hedge funds who are raising the question. is someone going to step in and try to shake things up? i talked to a couple of

activists. bezos, the ceo, has 18% of the stock. but the truth is this is really bezos' baby, it would be really tough to change direction. >> you don't really have an idea about how much amazon is spending? they're spending a lot of money but not like they're breaking it down in the balance sheets so you can see what they're spending it on. >> it would be hard for an activist to get involved in because what are they doing? we don't know. but they break out very little across segments. it's just revenue. i don't know if it's china. we don't know where the money's going. it's anyone's guess. experts in the company and they throw their hands up in the air. >> these hedge funds do they think amazon is a short here? >> no, even though it might not be an activist target, at some point you got to wonder if the company is going to start to listen. if investors are this mad, we're talking about it, bezos won't go on and on forever upsetting investors. so it's actually -- it's not

cheap. 15 times ebitd ta. but this is a positive we're talking about this. >> would you say the stock owners are becoming activists. they're seeing the spending spree. they don't always get it broken down the way they like, but they're seeing the spending spree and not seeing the results of that. the symptom performed down 20 plus percent. aren't they voting with their feet and the way they're selling? >> absolutely. i'm sure people have. and that's exactly what's going on. i'm sure these guys are talking to the company and telling them they're not happy. the question is bezos going to change his ways for people? >> no. >> this company is founded on -- >> no way. >> -- this experimental culture. this is how they got where they are. i don't think anybody wants them to quit trying stuff, but just don't spend as much. maybe grow as fast as revenue's growing. >> j.j., thanks for coming by. john jannarone, also known as j.j. flash.

>> beautiful. >> so the case can be made for amazon that it can choose at any moment to become profitable. that's what people have always said. >> that's been true for a while. but i don't think that's what people are looking for. i mentioned this, and we talked about it yesterday. we said the stock would probably trade down to 285. here we are. back at the end of july, you had this big sell-off that culminated with a 20 million shares day and the stock subsequently bounced. you had a 20 million share day today on a big sell-off. you'll see a bounce in kind. that bounce got you from 290 to 330, 335, this gets them from 285 to 315, 320. >> we've got breaking news on sports betting. dom chu with the latest on this. >> we have a federal judge now moving to temporarily halt or block new jersey from allowing sports betting after requests from numerous professional sports leagues including the nfl, major league baseball,

national hockey league and the ncaa and collegiate athletics. they had filed to have a federal judge to stop sports gambling. they've gotten that order. so a federal judge has halted that. it's a temporary recoorder, so does play out in the future. this is a federal law that passed for the professional and amateur sports act in 1993 that allows sports gambling in just four states, that's nevada, oregon, montana and delaware. right now new jersey seemed to be in violation of that. so we'll follow any more detail and bring you those as they become available. >> all those states have something in common, they have casinos. >> and how many professional teams are exposed to those states as well? that's truly limited. when you look at all these different leagues, they want to have that separation. whether or not it's through the internet or not, they don't care. they want that separation where it's not somewhere where they

actually have some of their different teams. major election in brazil this week. we've got a major debate over how you should play the income. going head to head. you the viewer will decide who wins. log on right now. plus gopro shares sinking today. is this an opportunity for the high flying stock? your customers, our financing. your aspirations, our analytics.

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eye on the election in brazil. today brazil's etf, ew skrks shot up more than 4% bup it's down more than 10%. so do you bet on brazil? tim is the bull, pete is the bear. >> hi, pete. >> there you go. >> you need two to come at me. >> weigh in now. 90 seconds on the clock. >> following the playbook, usually during contentious elections stocks sell off then they rally. brazil is down 24% since september 3rd. we know there's no growth, we know there's an inflation issue,

but we also know that 10 1/2 times earnings and a 4.7% dividend brazil is trading cheap to itself. so again listen to what people thing around the street in terms of positioning. you talk to all the best guys, bank of america puts out a note that says people are underweight. the locals are short. and you have hedge funds that don't have to be there are out of this market. you have priced in 80% of a d l dilma victory. if you get a neves victory -- risk/reward, it's a no brainer. >> so tim talks about talking to the best people on the street. my phone hasn't been ringing off the hook and they haven't talked to me. brazil has a huge economic problem. yes, can they solve it? sure. they can devalue their currency. they can do government spending. they can do a lot of different things, but will it work? it won't. and here's why. their biggest customer, china,

is slowing down and it will slow down for a long time. you don't even have to have a china implosion to have a problem. look at iron ore prices, the commodity prices, they're just cratering and that's not good for brazil. so why would i want to be long anything that just has no economic growth? >> because -- >> bk's final five seconds. >> i know the argument goes, it's so bad that it can be good. i don't think it can be good. >> brazil is now at 20%, oil, gas, commodities. it used to be 66. >> there's no addendum to this. stop talking. stop talking. >> he's cheating. did you hear that? >> najarian, weigh in. you can continue to vote. keep voting. >> you made a lot of great points, brian. >> thank you. >> i do side with timmy because there is upside that i believe is priced in right now. i agree with you on the commodities front. that's really a factor for sure. but brazil, that's priced in on

the negative. >> i'm voting, by the way. >> you should get a tight shot of this. >> can you vine that? >> break the tie. >> hey. >> all right. >> he didn't break the tie. >> we're going to close the vote. by the way, i vote for each of you equally. i time it. when you're talking i vote for you, then i vote for you. >> because i spoke longer did i get the actual win? >> wow, b.k. the bear got it. >> not just the brazil elections coming up week, there are a number of big events taking place. time for the traders to take a position on something they think will happen next week. let's go around the horn. >> i like to talk about freeport map because that's a time when people think commodities especially copper are going nowhere because of china. this is a company that's

divesting bad assets. they just sold off a plant in chi chile. they're talking about doing a deal in indonesia. 18 months ago they bought a significant business that gets them more into oil and gas. a company that's diversified, exposed to the exciting stuff that's going on in this country. 4.5 dividend yield. this is a company that's actually somewhat defensive at these prices. >> let's talk earnings season. guy, facebook. >> i like facebook because they report on tuesday, if i'm not mistaken. it will go to 85 post earnings. i think it gets there. gone from 73 to 80, we're about two-thirds of the way there. i think they'll have a huge quarter. i do think it gets to 85. >> whirlpool. >> right on the 52-week high. still trades deep and i think they knock it out of the park. >> gopro, are its high flying days over?

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the day. >> i tell you what, these numbers, i thought were fine, we know there's catalyst here, restructuring the ford f-150. we think although a lot of people don't. i'm a buyer on this. >> pop sodastream. >> you buy it right here at this 1/2. had a nice day today. mentioned at the robin hood conference, then the headline with pepsi. the stock should go higher. i like it right here. >> a massive thought for digital

river. >> this is a crazy name that just a couple of weeks ago we talked about the unusual up side. you can't do much about this right now, but it tells you what's going on in technology. big buyer of the semis and the cloud space. >> pop for proctor. >> earnings and they may split off the duracell division. that's the battery. anyways, i don't like how this traded today. stock's fine, but the way it traded at the end of the day, i don't like it. if you're in it take profit and wait for that pull back. >> gopro getting hit hard after oppenheimer gave it an underperform rating. >> they're playing a little stock market. i don't know if it will get to 45. since the ipo, every move to this on the down side you had a buy. i think this is it again. this story will break, i think, but i still believe this is not a hardware company. it will be a media company. you got to own the stock right here. >> that's crazy. >> okay. >> i've had an underperform on

this stock since it hit 50. i've been wrong for the last 20 bucks. when will this become a media company? >> i don't know. but q-tips, jell-o, band-aid, gopro. >> google. >> that's what i'm talking about. >> what happened to kodak? what happened to polaroid, blackberry. >> i've heard it all. >> for every jell-o, there's a blackberry. >> blackberry is doing all right now, come on. >> dog pile on the guy. >> because the international expansion there's room for the up side. >> let's say they never become a media company. let's say that does not happen, then what? >> i think they are part media company, part hardware company, and they continue to bring out new iterations of exactly the product they've got. if you look at iphone that's the way they've built this up all the way going back to the initial. >> let's say i'm part santa

claus? >> what? >> why a media company? >> they do have content. >> you guys make terrible vines, for one. >> and the gopro contents are amazing. >> i'm not a great viner. >> coming up on "options action" we've got an opinion that says more on gopro in the next half hour. >> ewz, you priced in 80% of a dilma win. if neves wins, that's crazy. there has to be structural change in brazil, it doesn't happen overnight. >> if the market's going higher, which i think it is, the financials continue to lead the way to the up side. goldman sachs will get you done. that will test the 52-week highs. >> so on sunday we have ecb stress tests. some of that was leaked today. monday you sell ewg, germany, economy still bad.

>> let the folks at home know that. >> get well b.k. >> at harvard tomorrow. >> i know, that's exciting. >> final trade, dude. >> morgan stanley. that's been on fire as well. >> giddyup. that does it for us here on "fast." on monday at 5:00 for more "fast." but "options action" starts right after this break. you can bring back a lot of things from a trip around the world. but you can't always bring back customer data. because many customers don't like it when their data moves around. can i go now? if you're going to do business globally, you need a cloud that can keep your data where it needs to be. today, there's a new way to work and it's made with ibm.

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this is "options action." tonight, wipeout. we'll show you the shocking chart that says gopro shares could go to 50 bucks by next week. we'll tell you how you can profit. plus, first netflix, then amazon. have we just witnessed the death of a cult stock? >> awesome. >> the traders will tell you which name is next. and talk about unusual. >> 106 miles to chicago. we got a full tank of gas. half a pack of cigarettes. it's dark. and we're wearing sunglasses. >> hit it. >> well, maybe not that strange, but tra m