The following three companies, Autobytel Inc (NASDAQ: ABTL), Hovnanian Enterprises Inc (NYSE: HOV), and Microvision Inc (NASDAQ: MVIS) have all posted significant gains lately to the delight of shareholders.

Let’s look at Autobytel first. The Company was trading in the $1.40 range at the beginning of May, dipped below $1 earlier this month, and in a show of support from existing shareholders and new investors ‘buying on the dips’ has roared backed; currently trading in the $1.19 range. The Internet Information Provider has always served the Automotive Industry and a new web presence, in addition to the stock being undervalued, is one of the reasons for the recent surge.

Let’s face it, a lot of Internet business web sites come, and a lot of them go, but there are a few that become synonymous with a sector, and Autobytel is one of them. They have “Become” a brand name. I think the stock is still undervalued; even at its current price: virtually no short sellers to hold it down, I think it can easily retake $1.40 in the month ahead.

Now I know it’s hard to get excited about residential construction these days, and understandably so, but an investor must leave room for the occasional exception and Hovnanian Enterprises is proving to be that exception to the rule. The stock was trading in the $3.25 range at the beginning of May, dipped to under $2 earlier this month, and then in a move of buy-side strength, has climbed right back to its current $2.40 price.

Some financial pundits think the buying recent buying spree of Hovnanian is company from institutional investors, and I think that’s part of the equation, but the stock is heavily shorted, like so many residential construction stocks, and I think that short sellers are starting to buy in to cover their positions and that despite poor numbers for existing and new home sales in May, the broader industry picked up steam. When people see the swing from single homes to condos and apartments taking effect by home builders, there’s a ‘take a chance’ attitude that develops around cheap ‘entry level’ pricing for new individual investors. I think this particular surge has legs.

And over in the Electronics industry, Microvision, a rather fascinating company with its PicoP display engine product, has picked itself up from near $1 earlier this month to its current $1.22 price. From mobile anything: tablets, smartphones, laptops, the PicoP technology is pretty impressive. I think the stock is undervalued. When the Microvision SHOWWX laser projector for the iPod, iPhone, and iPad hits Apple Stores, look for the stock to take off again.

I haven’t, don’t, and do not intend on holding any of the companies mentioned in this article.