In many respects, you've left fundamentals land and have entered expectations land. Fundamentals can improve and the stock can trade off if expectations aren't met.

Even though they may be a seasonal trade, I'm not convinced that the holidays are the reason you want to own online commerce stocks.

It's a trade-off. The Gaza Strip for the settlement blocks; the Gaza Strip for Palestinian land; the Gaza Strip for unilaterally imposing borders. They don't know how long they've got. That's why they're building like maniacs.

Shares such as real estate are expected to rise on expectations for land prices.

Land prices have been recovering and expectations for rising asset values are still high. On top of that, warehouse companies are benefiting from the expansion of the domestic economy.

The apparent lack of operating leverage remains the single biggest issue for Amazon.