I've taken some profits on Ford (F) along the way from the initial entry in late October in the mid $14s. My attentions have been elsewhere, but looking at the chart, I see after peaking in the mid $17s, the stock has skimmed nicely along its 20 day moving average (where I should have been buying) the past few days. With the jump off of support, based on the general market plus some good sales data just released, I've doubled down on my existing position size, taking it from 1% exposure to 2%. An obvious stop out level here is a break of the 20 day moving average, where one can reduce the position size if nothing else.

Wednesday's sales data

• Ford Motor followed up with a 24.3% jump to 147,338 vehicles. Ford unit sales have surged 21% so far this year compared with 2009 to easily outpace the broader industry’s growth rate.
• Car sales for Ford rose 24.7%, sport utilities gained 13.1% and its trucks surged 34%.
• The Dearborn, Mich.-based company also said it plans to build 635,000 vehicles in the first quarter of 2011, up 11% from the prior year.

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General Motors (GM) had a solid month although not as flashy as Ford; but core brands were excellent at over 20%.

• General Motors's monthly U.S. car sales rose 11.4%.
• Excluding the discarded brands, GM’s core four — Chevy, Cadillac, Buick and GMC — saw sales rise 21%.

Author's Disclosure: Long Ford in fund; no personal position

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