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Don't look now, but the rally in some red-hot tech stocks is circling the toilet bowl. 

Most worrisome is that such an explosive area of the market is pulling back after a definitively more hawkish Federal Reserve. In other words, there is more to the profit-taking than poor Apple Inc.  (AAPL) iPhone 8 reviews that may, or may not, have some form of cosmic impact on Facebook Inc.  (FB) , Netflix Inc.  (NFLX) and others in the Steve Jobs ecosystem. Shares of Facebook have dived about 6% over the past five sessions (should be more given the rising government-related risks). Apple has tanked 4%, so has Netflix. Alphabet Inc.  (GOOGL) has been the best relative performer, falling only slightly. If you think Tesla Inc.  (TSLA) is a tech company, this discussion is in your neck of the woods, too. Shares of the money-losing electric carmaker have shed nearly 8% despite what promises to be a big unveil of an electric big rig in late October. I hope this damn thing flies as well.

Frightened yet? Maybe you should be as these are the names that have led the broader market's rally over the past year. We saw a similar mini correction in big tech during the summer, only to see the space bounce back. Bu, this time feels different as the Fed prepares to drain the liquidity swamp and earnings estimates for the sector have ratcheted even higher. On a side note, oil prices are hovering near a two-year high -- perhaps take those Facebook profits and trade oil drillers. You're welcome in advance.

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While I badly want to dive into the increasing sense of abandonment Netflix must be feeling (see recent news of Fox adding more content to its streaming platform, and the Walt Disney Co.  (DIS) news from a few months back) and why investors should be worried, it's time to give a hat tip to a piece done on dying Sears Holdings Corp.  (SHLD) . The Atlantic cooked up a story explaining how everything Inc.  (AMZN) is doing right now to upend retail nicely mirrors what Sears did to shopping in the early 1900s. While it's unlikely Amazon will die (like Sears) in our lifetime due to technological shifts and deep layers of management expertise, the parallels between the two are striking. 

Oddly enough, it will probably be Amazon that owns a good number of former Sears stores by 2025 -- they will be part food distribution centers for 2,000 Whole Foods stores and part medical clinics for former millennials. Funny how life comes full circle. 

Here is TheStreet's digital timeline showing the slow death of Sears. 

Apple, Alphabet and Facebook are holdings in Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, FB or GOOGL? Learn more now.

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