These two online retailers are blowing Amazon out of the water

Web 2.0 stocks are blasting higher on Monday, adding to big gains over the past month. Etsy and Wayfair have each logged double-digit gains since the beginning of November.

Boris Schlossberg, managing director of FX strategy at BK Asset Management, says there are two factors that are giving rise to these second-generation tech names.

"One, disposable income is probably the best we've seen in a decade, so there's a lot of shopping going on in the Christmas season. Number two, I think Christmas online shopping has really gone mainstream," Schlossberg told CNBC's "Trading Nation" on Friday.

Etsy has rallied 40 percent over the past month, and Wayfair has gained 19 percent.

However, Schlossberg expects the big bounce in web 2.0 stocks to fade as markets enter 2019.

"Just as retail brick-and-mortar dies in January and there's absolutely nothing going on there, I have a feeling these stocks are going to be in for a little bit of a hangover come the beginning of next year as some profit-taking comes in," Schlossberg explained. "I don't think a lot of this burst is going to be sustainable as far as the stock price goes."

Not all analysts are so skeptical of web 2.0 stocks' run.

Craig Johnson, chief market technician at Piper Jaffray, says two internet stocks — Wayfair and Twilio — could see an even bigger bounce from here.

Wayfair "has just pulled back and retested the uptrend support line that's been intact since 2016," Johnson said on "Trading Nation" on Friday. "You can also see that we're moving back above its 200-day moving average and RSI on that chart never broke below 50. That means that the primary uptrend is still intact and we could see a measured objective on this stock back to $150."

A move to $150 would mark a 36 percent rally from Wayfair's closing price on Monday. It is currently trading roughly 5 percent below its 200-day moving average.

"If you look at Twilio, here's a stock that's broken out of a huge base. In the recent weakness, it's pulled back and confirmed support and looks like it's ready to take another leg higher. From our perspective we can see a move up to $120 on this stock," added Johnson.

Twilio would need to rally nearly 26 percent before reaching $120. It trades 34 percent above its 200-day moving average.

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Trading Nation is a multimedia financial news program that shows investors and traders how to use the news of the day to their advantage. This is where experts from across the financial world – including macro strategists, technical analysts, stock-pickers, and traders who specialize in options, currencies, and fixed income – come together to find the best ways to capitalize on recent developments in the market. Trading Nation: Where headlines become opportunities.

Michael Santoli

Michael Santoli joined CNBC in October 2015 as a Senior Markets Commentator, based at the network's Global Headquarters in Englewood Cliffs, N.J.  Santoli brings his extensive markets expertise to CNBC's Business Day programming, with a regular appearance on CNBC's “Closing Bell (M-F, 3PM-5PM ET).   In addition, he contributes to CNBCand CNBC PRO, writing regular articles and creating original digital videos.

Previously, Santoli was a Senior Columnist at Yahoo Finance, where he wrote analysis and commentary on the stock market, corporate news and the economy. He also appeared on Yahoo Finance video programs, where he offered insights on the most important business stories of the day, and was a regular contributor to CNBC and other networks.

Follow Michael Santoli on Twitter @michaelsantoli

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