Revenue growth at Microsoft (MSFT) came from the consumer side, said Joe Terranova. That’s interesting because you’d think strength would come from the PC cycle upgrade. Consumer strength in Microsoft’s numbers says to me the people are feeling more comfortable spending money, adds Gary Kaminsky.

Kaminsky said money managers are in a bind now because they are wondering how they can participate in stocks like Amazon when they are up so high. Terranova said there is more room for Amazon (AMZN) to go higher because $150 billion ecommerce industry is growing.

If you’re looking for a trade I’d look at Expeditors (EXPD) as a downstream play, adds Kaminsky. They ship packages that the online shoppers purchase.