The selloff in LKQ Corp. last month after a downgrade and news of a Chrysler lawsuit provided a perfect entry point to buy shares of the auto-parts maker, says Lamar Villere, portfolio manager for the Villere Equity Fund. In his view, it¿s a best-in-class company with great management that was unfairly punished. Villere is also a fan of B/E Aerospace which he says will rebound nicely after disappointing Wall Street with its first quarter guidance. Finally, he says a dividend will only slow down Howard Hughes Corp.'s real estate growth and momentum.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.