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Two Ways: Toyota Is the Clunker Champ


Strengthen your portfolio in good times and bad.

Toyota – Winner of 2009 Cash for Clunkers

The US Cash-for-Clunkers program officially came to an end this week, and the real winners of the month-long event were the Asian automakers. While the government praised the success of the program, the biggest winner was Toyota Motor (TM), which won 19% of all sales with three of the top ten selling vehicles. General Motors (GM) came in second with 17.6% of all vehicles purchased, but the combined sales of the Detroit Automakers (GM, Ford (F), and Chrysler) accounted for just 38.6%, substantially less than the 45% combined market share that the companies posted in the first seven months of the year, according to the New York Times.

For more, see Professor Scott Reeves' What's Bad for Toyota Is Bad for the Economy.

From the Bull Pen: If you're in the camp that the next pullback is a buying opportunity, the DJ Transportation ETF (IYT) back to $62 (level where it last broke out) is an idea to keep in mind. If and when.

From the Bear Cave: Although Toyota is best in breed, there are massive challenges ahead for this company. For those playing the downside, there's near-term resistance at $88, so one can consider setting a buy stop above that level.

Quick Check Around the World

Asian trading closed with the Nikkei -1.56%, India 0.07%, Hang Seng -1.04%, Shanghai -0.71%, and Taiwan -0.42%.

Across the pond, we see the FTSE +0.02%, CAC +0.02%, DAX -0.50%.

As of 8:15 a.m. EST, S&P Futures are trading +0.50 to 1027.25 and Nasdaq futures are +0.25 to 1636.75.

A Look at Commodities

Over in commodities, crude oil is trading -0.39 to 71.04 while gold is +1.70 at 947.50 this morning. Silver is -0.200 to 14.24 and copper -0.950 to 284.75.

The dollar index is -0.1850 to 78.5350.

On the Radar


08:30 Initial Jobless Claims
8:30 second quarter GDP-Prelim: -1.4% cons, -1.0% prior.
8:30 GDP Deflator: 0.2% cons. 0.2% prior.
8:30 Core PCE: 2.0% cons. 2.0% prior.

Click here for the full trading radar

It's Thirsty Thursday! I must admit. Part of me is already focused on wings, beer, and football with the rest of the crew. Good luck anyways, and have a great day!
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No positions in stocks mentioned.

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