Late Market Update (TM, USD, SSG, AAPL, OIIM, KLAC, YHOO)

The US Department of Transportation has recently analyzed dozens of data recorders taken from accident-riddled vehicles manufactured by Toyota Motor Corp (NYSE:

). The analysis suggests that at the time of the accidents, throttles of some cars were wide open and brakes were not engaged. This suggests that some people, who had blamed their accidents on Toyota’s acceleration problem, were actually pushing the gas pedal instead of the brake. After market closes today, the key ETF pair to watch ahead of Intel’s (NASDAQ:

) earnings for the second quarter is USD/SSG. When Intel reported Q1 results ahead of expectations, ProShares Ultra Semiconductors ETF (NYSE:

) jumped roughly 8% the next day. Meanwhile, ProShares UltraShort Semiconductors ETF (NYSE:

) may shoot up if the results disappoint the market. INTC accounts for 35% of USD's and SSG's total portfolio. Although James Altucher loves his Apple (NASDAQ:

) gadgets, he is endorsing other tech stocks due to headline risk associated with the iPhone4 antenna problem. The three stocks endorsed by James are 02Micro (NASDAQ:

), which does the LED lighting for iPads, KLA-Tencor (NASDAQ:

), which is poised to benefit from Intel's growth and Yahoo (NASDAQ:

). Read more