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]! Seymour likes the company for a number of reasons.
1) As the maker of the world’s least expensive car, they should benefit as more people enter the middle class in the emerging world.
2) Although the company is based in India, Tata cars are sold around the world in nations that include South Africa, Venezuela, Russia, Malaysia, Poland, and Saudi Arabia
3) Seymour also finds their results impressive. For the second quarter Tata profits doubled with the firm easily blowing past Street estimates.
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However, it's not all whipped cream and cherries. From a technical standpoint, the stock has been hitting significant resistance around $13.
All things considered, what’s the trade?
At around $12.36 I’d start building a position, says Seymour. It’s a great long-term play on emerging auto growth.
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Trader disclosure: On October 26th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (BIDU) Dec. Call, Is Short (BIDU) Nov. Call; Najarian Owns (DNDN) Calls, Owns (DNDN) Puts; Najarian Owns (YHOO), Is Short (YHOO) Calls; Terranova Is Short (FCX)
For Joe-Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (DBA)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)
For Dennis Gartman
Funds Managed By Gartman Are Short British Pound Sterling
Funds Managed By Gartman Own Canadian Dollar
Seymour Owns (UNG)
Seymour Owns (CX)
Seymour Owns (AAPL)
Seymour Owns (BAC)
Seymour Owns (EEM)
Seymour Owns (FXI)
Seymour Owns (TTM)
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