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Topping The Tape: Toyota

Shares of Toyota bounced on Tuesday, despite word that the automaker had issued yet another recall.

The latest involved a potential steering wheel defect in the Camry.

In a document sent to U.S. dealers on Tuesday and obtained by Reuters, Toyota said the 2010 Camrys equipped with a 4-cylinder engine might have a shorter-than-required power steering pressure hose in the engine compartment.

That follows a recall of the Toyota Prius for potentially defective brakes and a broad recall of approximately 8 Toyota models due to defective accelerator pedals.

Considering shares are down 13% over the past 30 days is all the bad news baked in? Or does the stock have farther to fall?

I like Toyota here, says Tim Seymour. It’s still the the best run car company in the world. I think the pullback is an opportunity.

After 3 recalls, there’s now zero shot of me buying a Toyota, counters Guy Adami. If you want a trade look at Ford .

If you want to play autos, do it with Johnson Controls, counters Joe Terranova.


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Trader disclosure: On February 9th, 2010, 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), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (JPM), (JPM) Feb. Call Spreads, (JPM) Feb. Calls; Terranova Owns (DELL), (EMC), (MSFT), (AAPL), (OIH); Terranova Owns (GOOG), Is Short (GOOG) Feb. calls; Pete Najarian Owns (AAPL) Call Spread; Pete Najarian Owns (DIS), Is Short (DIS) Calls; Pete Najarian Owns (MGM) Call Spread; Pete Najarian Owns (MS), Is Short (MS) Calls; Pete Najarian Owns (TCK), Is Short (TCK) CallsPete Najarian Owns (XLF) Calls; Pete Najarian Owns (PBR) Puts; Pete Najarian Owns (BTU) Call Spread; Seymour Owns (MPEL), (AAPL), (BAC), (EEM), (F), (FXI), (LVS), (MGM), (MSFT)

For Tim Seymour
Seygem Asset Management Owns (PBR)
Seygem Asset Management Is Short (BIDU)
Seygem Asset Management Owns (FCX)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (SKT)

For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (SPY)
Cantor Fitzgerald & Co. Is A Market Maker In (LVS)
Cantor Fitzgerald & Co. Is A Market Maker In (MGM)
Cantor Fitzgerald & Co. Is A Market Maker In (WYNN)
Cantor Fitzgerald & Co. Is A Market Maker In (GOOG)
Cantor Fitzgerald & Co. Is A Market Maker In (BIDU)
Cantor Fitzgerald & Co. Is A Market Maker In (YHOO)
Cantor Fitzgerald & Co. Is A Market Maker In (MSFT)

Other Relevant Disclosures:
Najarian Owned (DIS) And Was Short (DIS) Calls Today
Jon Najarian Owns (DIS)


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