NEW YORK (TheStreet) -- The S&P 500 slid 0.48% on Friday, ending the week unchanged.
On CNBC's "Fast Money" TV show, the trading panel took a look at Amazon's (AMZN) earnings, which caused the stock to decline by 10%.
Pete Najarian, co-founder of optionmonster.com and trademonster.com, said investors are getting fed up with the continued losses and ballooning expenses at Amazon. He is not currently looking for the stock to bounce.
Tim Seymour, managing partner of Triogem Asset Management, reasoned that investors are tired of seeing revenue growth come at the expense of profits. It's simply not worth this type of valuation, he argued.Brian Kelly, founder of Brian Kelly Capital, said if the stock fails to hold $280 don't get long, he cautioned. Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said last year was "the tell" for Amazon investors when the company failed to grow its full-year revenue by more than 20%. Look to buy the stock around $280, he suggested. Seymour said the U.S. is likely to hit Russia with more sanctions "sometime early next week." He is a seller of German equities via the iShares MSCI Germany ETF (EWG). Kelly agreed with Seymour in regards to Russian sanctions, saying investors can play the scenario by getting long Brent crude oil and Stillwater Mining (SWC). Brown disagreed, saying the U.S. government "doesn't follow through" and for that reason he is a buyer of select Russian equities such as Gazprom (GZPFY) and Sberbank (SBRCY). Instead of buying or selling foreign equities, Najarian said investors could buy the airline and energy sectors on weakness caused by geopolitical events. Brown said El Pollo Loco (LOCO) has a "great story" and is a cheaper stock than Chipotle Mexican Grill (CMG) given its faster growth. Najarian pointed out bullish options activity in shares of Estee Lauder (EL). Specifically, he referred to the August $80 call options.