Alibaba (BABA) shares finally taking a rest, down more than 3%. The Chinese internet monopolists announced record "Singles Day" sales of more than $9 billion. Founder Jack Ma was on CNBC this morning talking about his plan to make the imaginary singles day holiday a global event by 2019. Honestly people, as an American I find the idea of our consumers being relegated to hopping aboard some Chinese Dragon as an excuse to spend money just embarrassing. We invented Mother's Day and the less popular sequel Father's Day. We turned Halloween into an excuse to spend $700 million on candy and pet costumes. Show some pride.

Shares of The Michaels Companies (MIK) doing just that, up nearly 7%, proudly standing at new all-time highs. Morgan Stanley (MS) raised the stock to overweight from equal weight. The team now thinks the stock can hit $22 a share on an arts and crafts boom. This is good news for those investors who got into the stock at the IPO price of $17 back in June. Watch for earnings later this month.

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Another newly public retailer, Wayfair (W) is not faring well at all today. The stock is down 12% after the online home furnishing retailer told investors quarterly net losses widened to $24 million, compared to just $3M a year ago. The company is is spending more in hopes of getting customers to do the same. Clearly investors are not convinced Wayfair can win that battle.

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