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Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
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  • Market Notes: Auto Makers Gain Traction -- May 15 0 comments
    May 15, 2013 5:03 PM | about stocks: ANV, GDX, GDXJ, GM, F, HMC, TM

    4:00pm ET: The market continues to melt up but internals are beginning to show some tiny signs of fatigue. Although I definitely wouldn't bet against the market, I wouldn't be surprised if it took a step back in the next day or so.

    Today's notable market action: Toot, toot, hey, beep, beep!
    Commodities continue to slump as gold and silver miners continue to sell off, some to their lowest levels not seen in years. As an example of just how far they've fallen, consider gold miner Allied Nevada (ANV, $8) which has lost more than 80% of its value since mid-October. The Gold Miner etf (GDX, $27) and the Junior Gold Miner etf (GDXJ, $11) have lost 55% and 40% respectively over the same time period. Just because these issues are well off their highs doesn't mean now is the time to step in and buy--far from it. Their charts show no signs of basing and I'd wait until they break out to the upside before initiating a long position. Remember, never try to catch a falling knife!

    On the flip side, automakers were among today's winners as the following issues motored to new highs on heavier than normal volume: Fiat (FIATY, $7), General Motors (GM, $32), Ford (F, $15), Isuzu (ISUZY, $86), Nissan (NSANY, $23), Honda (HMC, $41), and Toyota (TM, $127). Most of these tacked on 2-3% to yesterday's share prices except for Isuzu which jumped 14% on three times normal volume. Most of these companies are still undervalued with P/E's hovering around 10 except for Honda and Toyota with P/E's of 19. (Fiat has the lowest P/E value of 6.) Aside from Fiat and GM, all of the above pay a dividend (most around 2%). Adding some wheel makers to your portfolio could definitely give it some traction, and that's something to toot about!

    [Note: For a little topic apropos background music, check out this classic music video.]

    Enough auto metaphors. That's it for today.

    Subscriber Notes: There is one new Stock Darling.

    Stocks: ANV, GDX, GDXJ, GM, F, HMC, TM
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