Toyota cut its 2009 vehicle sales forecast by nearly 7 percent as high fuel prices hammered demand for large cars and pickup trucks, and said it will speed up the rollout of hybrid and electric cars as their popularity grows.
In this Web Extra find out how to play autos off the news! But first get Guy Adami's favorite defense sector trade.
This content is only available online - you won't find these trades on TV.
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Trader disclosure: On Aug 28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Jon Najarian Owns (C), (JPM); Jon Najarian Owns (AAPL) Calls, (MRVL) Calls, (NKE) Calls, (XLF) Calls, (AFL) Calls, (PMCS) Calls, (TIE) Calls; Jon Najarian Owns (UNG) Call Spreads; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short The British Pound; Terranova Owns (AAPL), (RIMM), (EOG), (FCX), (GS), (KOL), (NOV), (POT), (SA), (X), (VLO); Terranova Owns (AIG) Puts; Terranova Is Long Dec. 2008 Reformulated Gasoline Futures; Terranova Is Long Crude Oil Time Spread (Long Oct. 2008 Crude Oil Futures, Short Dec. 2012 Crude Oil Futures)
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)