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One would think an incredibly strong Black Friday, followed by a record-setting Cyber Monday would bode well for the largest e-commerce player in town, Inc. (AMZN) - Get, Inc. Report

Surprisingly though, that hasn't been the case. Amazon stock isn't even treading water, it's actually lower since those numbers trickled in. Shares peaked on Monday, hitting new highs and tipped lower Tuesday. On Wednesday, they fell hard, tumbling almost $50 per share between the open and its session lows.

On Thursday, Amazon is bouncing back, up 1.34%, to $1,176.60.

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But aside from Amazon's fall, the truly remarkable thing to see? Traditional retailers bouncing in the face of the e-commerce giant's struggles. Shares of Macy's (M) - Get Macy's Inc Report , J.C. Penney (JCP) - Get J. C. Penney Company, Inc. Report , Target (TGT) - Get Target Corporation Report and Kohl's (KSS) - Get Kohl's Corporation Report have all jumped this week. Macy's is up almost 20%, J.C. Penney and Kohl's are up nearly 10%.

Heck, even Kroger (KR) - Get Kroger Co. Report is up 12% Thursday after a better-than-expected earnings report and after its CEO said the company had its best Black Friday results ever. If Kroger did well, one would thing Amazon's Whole Foods unit did too. As if Kroger's results weren't perplexing enough, I found it odd that PayPal (PYPL) - Get PayPal Holdings, Inc. Report , Square (SQ) - Get Square, Inc. Class A Report , Visa (V) - Get Visa Inc. Class A Report and MasterCard (MA) - Get Mastercard Incorporated Class A Report all dove on Wednesday.

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I get that the tax bill benefits domestic companies more than international companies and therefore the latter of stocks were less desirable, if only in the short-term, than the former. TheStreet's own Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, told us this very thing as it was happening Wednesday.

But how exactly does one think all of the products purchased between late Thanksgiving and Cyber Monday were made, particularly the ones online? These will all be big winners from what is very likely to be a record holiday year in terms of sales. Whether it's at Macy's or on Amazon, consumers are swiping plastic, not writing checks.

So how did Visa and MasterCard suddenly become a sell? Why is PayPal no longer a desired holding? Square admittedly had been working on its own stock correction given its neck-breaking rally over the past few weeks and months.

Still, it seems irrational to sell these stocks lower, despite how well they'll do in the fourth quarter, on the basis that the tax bill will only be good for them, not great.

Shares of Amazon jumped $15.48 to close at $1,176.75 Thursday, up 1.33%.

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At the time of publication, Cramer's Action Alerts PLUS had no position in any security mentioned.