I am trying to make purchases form my wish list and it tells me to check my shopping cart, but I can't find it. When I click "Edit" and "Preferences" and the green shopping bag I don't get teh "buy with 1 click option. My iTunes is up to date.
You're looking at or remembering old information. Apple removed the "Shopping Cart" feature from the iTunes Store a couple of years ago. So basically everthing is a "1-click" purchase now. This may help: