Summary: Auto sales in May were very strong for GM, Chrysler and even Ford. Consumers are showing signs of strength as they are willing to pay higher vehicle prices and even buy gas guzzling trucks. Keith Bliss of Cuttone warns that these high sales numbers can't last. He points to the U.S. factory orders that came out today, which were all higher except for transportation. He thinks this portends a slowing of auto buying in the future. Stocks did not respond to the good news because of recent buying that pushed stocks to record highs. Cuttone says the market is topped out at these levels.
