GM, for example, would have to fall back to $32 to offer good value, he adds. GM would need to fall by 11% to get to that level.
Instead of directly investing in them, Baruch says he has an "interesting" way to gain exposure to the U.S. automakers. "Take a look at the ETF RXI — Toyota is the number three name in there, and then it's surrounded by Amazon, McDonald's and Home Depot, and that gives you a way to diversify without idiosyncratic risk," said Baruch."That has a good support line coming in at $112, as the chart would show, and the 200-day moving average is there. So I think that's a good place to look to get some exposure in autos," said Baruch.
"When you think about the tariff issue here, you know [Friday's] announcement is not a big deal. The bulk of their business is done in the United States," Chiavarone said Friday. "The bigger deal might be what comes [next from the Trump administration], because they are importing a lot of goods — steel, aluminum. It's the import tariffs that are really hurting this group, not so much the export tariffs into China.
Problem with Trump... the guy is a flake. My brother owns a 1200 employee Manufacturing company that makes plastic parts for Auto’s in the US, Mexico and China. He is moving forward to close the plant in China based on Trumps order-Friday! He believes Trump!?
The best way to play auto stocks is don't play auto stocks and buy gold
I play LONG $NIO $APVO
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: CNBC - 🏆 12. / 72 더 많은 것을 읽으십시오 »