9:14 DJIA 9375 +46.59 VIX 54.50
Raise you hands if you would buy a US auto stock now. That was the question given to a panel of experts on CNBC just now. That also was just after Ford (2.19) realeased the worst auto sales since 1980. The reaction was predictable. Why buy these when there are so many other cheap stocks out there to buy. GM is 5.56 and Ford is 2.19. They have to be doubles from here and in a fairly short period of time. I just bought GM friday and will buy F here.
What will happen after the new Pres...insert name...takes over is that there will be a massive bailout for the auto makers and the stocks will double or triple.
If you rememeber my call on the airlines in July when oil was going to 200...well this is the same kind of thing. The airlines all doubled and tripled and I would expect GM and F to do the same. The experts will then recommend them because they will make more sense then. The beat goes on...Mikey
4 comments:
The most successful guy in the stock market that I know of gave me GM as well. Now that you like it, I know its a winner. All in.
TBT This is the airline trade all over again.
You should not go all in buy in stages they may give you a better price. I just made a buy friday my second I wiil buy again if it approaches the low. In the near term I would think it would be weak
I bought some on friday as well. Looking to get some more soon. Maybe at the close. Appreciate your advice
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