Toyota looks very toppy

I have liked Toyota's products in the past but I still hold it against them that they borrowed their manufacturing capacity.  Their debt is astronomical right now.  TM is a microcosm of Japan.  Japan's PM Abe is Hell bent on screwing that poor country up more than it already is.  When governments have to resort to secrecy about everything and they claim its needed for national security you can bet that tyranny is not far off and that the secrecy is there to enable them to concentrate their power before the people come looking for them with a hangman's noose.  I feel very sorry for the good Japanese people who I know are living there.  I deal with some of them through my current job and my last job and I know they are a dedicated and hardworking lot.

In any case the chart of Toyota is not looking good.  Nothing is confirmed as of yet but if this doesn't break out of $136 real soon now then it could be left with a very ugly declining double top.  As crazy as it may sound, I fear that Toyota is really no better off than the US automakers.  The difference is that the US guys got to BK for the most part (except Ford that is) and thus their operating costs will be lower than TM who carries a growing debt burden of $193 billion.




This one is an easy trade.  Short the common shares right here and then cover for a miniscule loss should they break $136.  If this peters out here, do not cover easily!  The declining double top of this magnitude suggests that the falling wave left of middle could be wave 1 down and then a-b-c into wave 2 which might have just finished.  If that's the case, the 3rd wave will be a doozy.  As in cliff diving a new city call plummetsville in Japan.

May the odds be ever in your favor, gamblers.