The S&P 500 ETF (SPY) - Get Report rallied 0.4% on Friday, pushing it higher by 3.4% for the week. After such a strong rebound, and a strong rally overall since the start of October, the CNBC's "Fast Money" traders were wondering if there's anything left to buy.

Brian Kelly, founder of Brian Kelly Capital, said he likes defense and industrial stocks that have good yields, low valuations and have yet to make new highs. Specifically, he mentioned Boeing (BA) - Get Report and General Electric (GE) - Get Report

Steve Grasso, director of institutional sales at Stuart Frankel, said the "theme" that continues to work is to stay long stocks with upward momentum -- even if they do have a high valuation. A few names include Nike (NKE) - Get Report , Under Armour (UA) - Get Report and Facebook (FB) - Get Report .

David Seaburg, managing director and head of sales trading at Cowen, agreed with Grasso, adding Netflix (NFLX) - Get Report to the list as well. 

Guy Adami, managing director of Stockmonster.com, said he likes Amazon (AMZN) - Get Report on the long side, but also thinks Alphabet (GOOGL) - Get Report will continue to rally as well. New CFO Ruth Porat, the former CFO of Morgan Stanley (MS) - Get Report, is making a great difference at the company. Trading at 22 times forward earnings estimates and with earnings-per-share growth of 18%, the stock is "dirt cheap," he said. 

Shares of Alphabet rallied 2.25% on news that it will make a bigger push into the cloud business following its acquisition of Bebop Technologies. Diane Greene founded that company, and will run Google's cloud businesses. Greene was the co-founder of VMware (VMW) - Get Report .

Gene Munster, managing director at Piper Jaffray, has a buy rating and $812 price target on Alphabet. Although the deal could boost the company's revenue, and possibly lead to a higher valuation, Munster questioned how much market share the company would be able to garner, especially with Amazon's (AMZN) - Get ReportWeb Services business being so dominant. It's not a price war; a lot of customers choose their platform based on functionality as well, and Amazon's is very, very good, he concluded.

Seaburg added that Amazon has an amazing lead over a lot its competition, and the growth in its cloud business should remain strong for the company. Grasso agreed. 

Kelly pointed out that Rackspace Hosting (RAX) faces double trouble, with Amazon and Google as two of its biggest competitors. That doesn't bode well for the company, he said. 

The conversation turned to Chipotle Mexican Grill (CMG) - Get Report , which fell 12% on news of further E. coli issues. The stock is now down 24% over the past month. 

Seaburg was previous a buyer around $600 per share. But now that the news has gotten worse and the stock has dropped to $535, he's avoiding the stock for the time being. Wait for it to settle down, he said. 

At a glance, Chipotle might look like a good buy. But upon further investigation, Grasso said shares of Chipotle have room to fall another $70 per share, toward $465. He suggested investors look at Yum! Brands (YUM) - Get Report or McDonald's (MCD) - Get Report , which are trading much better. 

Not only are they trading better, but they have a lower valuation, a solid dividend yield and no uncertainty about e. coli outbreaks, Kelly said. He likes Chipotle around $480. 

Adami likes Jack in the Box (JACK) - Get Report for its Qdoba business, and is a buyer as long as the stock is below $80 per share.

Follow TheStreet.com on Twitter and become a fan on Facebook.