It seems the truck bull market continues, as billionaire investor Carl Icahn on Thursday added to his position in truck maker Navistar International. Icahn Enterprises raised its stake in Navistar from 8.8 percent to 9.9 percent.
Trader Karen Finerman has long been behind the trucking trade. The Metropolitan Capital president isn't following Icahn into Navistar , though. She prefers truck engine maker Cummins and truck parts maker Webco Industries instead.
Stephen Weiss of Short Hills Capital wouldn't follow Icahn into Navistar either.
"I'd rather go to Cummins where you don't have the noise of Icahn over there and the people that followed him in just because they think it's a take over," Weiss said. "Do away with that and just play the fundamentals in Cummins."
Trader Tim Seymour took it one step further, recommending investors play the fundamentals in the overall trucking sector. The entire commercial truck space has been beaten up because people think the world's economy is weak, he explained.
To play it, Seymour recommends buying stocks of companies that have diesel-based engines and exposure to emerging markets. He likes Volvo in particular.
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Trader disclosures for Nov. 3, 2011: TIM SEYMOUR: Seymour is long AAPL; Seymour is long BAC; Seymour is long INTC. ANTHONY SCARAMUCCI: Scaramucci is long AAPL; Scaramucci is long GOOG; Scaramucci is long WFC; Scaramucci is long GS. KAREN FINERMAN: Finerman owns SPY. JOE TERRANOVA: Terranova is long CAT; Terranova is long CVI; Terranova is long VRTS; Terranova is long APC; Terranova is long F; Terranova is long EMC; Terranova is long AAPL; Terranova is long IBM; Terranova is long JOYG; Terranova is long LULU. STEVE WEISS: Weiss owns EURO; Weiss owns RIG; Weiss owns QCOM; Weiss owns COP; Weiss owns POT; Weiss owns MOS; Weiss owns CSX; Weiss owns KO; Weiss owns VZ; Weiss owns AKAM; Weiss owns BRCM; Weiss owns RIMM; Weiss owns HPQ.
Finerman’s firm owns MDY
Finerman’s firm owns SPY
CNBC.com with wires