On Friday the Fast traders were looking at the rapidly changing tech landscape after Research In Motion sorely disappointed the Street, by missing on almost every metric across the board when the company reported earnings.

Perhaps most worrisome were RIM's tablet sales - about 200,000 versus Street estimates of up to 700,000. And critics were quick to pounce:

“RIM has no future in tablets,” wrote Business Insider. ”Whereas RIM shipped 200,000 last quarter, Apple ships 200,000 iPads every two days,” added the blog Splatf.

Now, we know sometimes the Fast traders suggest buying a stock when things look to be at their worst – but they're not buying this time.

Fast trader Pete Najarian sees no reason for RIM shares to reverse direction anytime soon. “They’ve got to convince us there’s a reason to buy – their new phones aren’t inspiring their audience; the numbers showed that,” he says.

However, Najarian does think RIM’s pain could be Sony’s gain. You read that right - Sony.

“I’d keep my eye on Sony’s Tablet S,” he says.According to the FT, the tablet has won over a lot of reviewers and has gotten a lot of praise for its design.

”This is a name that nobody’s really talking about and it could get some buzz,” he says. ”It’s got a great operating system – this is a pad that could challenge the rest of the field.”

Meanwhile, on the back of RIM’s disastrous results, shares of Apple surged – with investors again optimistic about the potential of the iPad.

“Apple is a powerhouse,” Najarian says. “As more people migrate to the iPad they become part of the Apple eco-system – I think Apple is still far too cheap at $400."

Also, shares of rival Amazon ripped higher on Friday soaring to another all time high.

Trader Patty Edwards thinks gains may be a sign that the Street is starting to think it will be Amazon’s forthcoming tablet that emerges as a potent rival for the iPad. “I’m hearing phenomenal things,” she says. “It seems if anyone can challenge Apple it’s going to be the Amazon tablet.”

Steve Grasso adds the Amazon tablet could drive the stock even higher. “If Amazon becomes a cloud play, it would gives investors a whole new reason to get excited about this stock.”

And on a somewhat related note, Netflix joined RIM in the dog house – after the video service cut its U.S. subscriber estimates for the quarter.

Although the stock had been a high flier trader Patty Edwards says, “now it looks broken. In the near-term I would not be a part of it.”

Steve Grasso agrees. “I look at this as a play on the economy – and nobody wants more revolving debt,” he says.

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MONEY IN MOTION: EURO MEETING LOOMING

Elsewhere in the market, the traders were also talking currencies with the euro down against the dollar on concerns that EU finance ministers won't do enough to contain the debt crisis or provide additional support for the banks.

So what's next for the euro?

Find out from Willie Williams, director of institutional derivative sales at Societe Generale.

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Trader disclosure: On Sep 16, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders;

Pete Najarian
No disclosures

For Brian Kelly
Shelter Harbor Capital is long (MCP)
Shelter Harbor Capital is long (JJG)
Shelter Harbor Capital is long (MON)
Shelter Harbor Capital is long (EURO)
Shelter Harbor Capital is short Ausie Dollar
Shelter Harbor Capital is short (SLV)
Shelter Harbor Capital is short (EWG)

For Patty Edwards
Trutina Capital is long Amazon (AMZN)
Trutina Capital is long Apple (AAPL)
Trutina Capital is long Citigroup (C)
Trutina Capital is long EBAY (EBAY)
Trutina Capital is long Google (GOOG)
Trutina Capital is long McDonalds (MCD)
Trutina Capital is long Oracle (ORCL)
Trutina Capital is long Qualcom (QCOM)
Trutina Capital is long SPDR Gold Trust (GLD)
Trutina Capital is long Target (TGT)
Patty Edwards is long Tech SPDR (XLK)

For Steve Grasso
Stuart Frankel & Co and it’s partners own (CSCO)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (JPM)
Stuart Frankel & Co and it’s partners own MET
Stuart Frankel & Co and it’s partners own MSFT
Stuart Frankel & Co and it’s partners own (MU)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RHT)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners own (UAL)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners are SHORTS (QQQQ)


Tavis McCourt
There are NO disclosures.
Morgan Keegan does not allow its analysts or their immediate family members to hold a position of any kind in the securities of the companies they follow.

Willie Williams

No disclosures




CNBC.com with wires.