Today on Stockhouse
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Calls on gold and various markets for 2009, from John Lee of Mau Capital Management.
Louis Basenese of Money Morning provides some reasons why it's time to buy China stocks.
J.W. Cotton discusses some stock picks and favorite hot-trading equities.
Market drops, but VIX doesn’t rise much, notes Jud Pyle.
Casey Research explains the best way to buy large quantities of physical gold.
Buzz on the Boards took a look at the Lundin Mining Corporation (TSX: T.LUN, Stock Forum) Bullboard and the Noront Resources (TSX: V.NOT, Stock Forum) Bullboard.
Top Bullboards post:“It’s never wrong to take a profit. I always do, and did. Yes I've missed out in quite a few run-ups but it has kept me in the game though many years and tricky markets. We all know how ELD likes to bounce around, presenting many opportunities. I bet you already sold by now....right? With a run like today there's usually at little pull back, or at least a pause. That’s just my point of view. Been wrong often [sic].” – From micromite1 on the Eldorado Gold Corp. (TSX: T.ELD, Stock Forum) Bullboard.
Top Bullboard: Oilexco (TSX: T.OIL, Stock Forum) ended the week with the most posted and most read Bullboard on Stockhouse.
Top blog:bandit69 gave some thoughts on reasons behind the “widespread fear and panic” in Canada at the moment on the bandits in training blog.
For news about small stocks that made big moves in Friday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Expect charges to continue for [the fourth quarter], as companies clean house for a better 2009. Provisions for layoffs should increase, with the actual cash flow charge taking effect in 2009," Howard Silverblatt, senior index analyst, Standard & Poor's told MarketWatch.
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| American Express (NYSE: AXP) |
Q4 |
$0.22 vs. $0.71 |
|
| Caterpillar (NYSE: CAT) |
Q4 |
$1.31 vs. $1.50 |
|
| Freeport-McMoRan Copper & Gold (NYSE: FCX) |
Q4 |
-$1.04 vs. $1.36 |
|
| Halliburton Company (NYSE: HAL) |
Q4 |
$0.73 vs. $0.71 |
|
| McDonald's Corporation (NYSE: MCD) |
Q4 |
$0.83 vs. $0.73 |
|
| Texas Instruments (NYSE: TXN) |
Q4 |
$0.12 vs. $0.54 |
|
Today In The Markets
Energy, gold stocks boost TSX; N.Y. mixed on earnings, bank worries
|
| DJIA |
8,077.56 |
-45.24 |
 |
|
| NASDAQ |
1,477.29 |
+11.80 |
 |
|
| S&P500 |
831.95 |
+4.45 |
|
|
| S&P/TSX |
8,627.97 |
+141.41 |
|
|
| S&P/TSX Venture |
859.69 |
+9.48 |
|
|
TORONTO, NEW YORK (CP) - A strong showing by energy and mining stocks pushed the Toronto stock market higher Friday, but financials continued to be a drag on worries about more big losses in the sector.
New York indexes were mixed as the Dow industrials were driven lower by poorly received earnings reports. Indexes found some support from energy and technology stocks.
Toronto's S&P/TSX composite index rose 141.41 points to 8,627.97 for a loss of 292 points or 3.25 per cent this week, led by sliding financials. The TSX Venture Exchange was 9.48 points ahead to 859.69. The Dow Jones industrial average closed down 45.24 points to 8,077.56, losing 204 points or 2.45 per cent on the week. The Nasdaq composite index moved up 11.8 points to 1,477.29 while the S&P 500 rose 4.45 points to 831.95.
Toronto's S&P/TSX composite index tumbled 336.55 points to 8,504.93. The TSX Venture Exchange moved down 16.27 points to 856.68.
Please click here for current U.S. and Canadian market summaries.
After-Hours News
Uranium North Resources (TSX: V.UNR)
After Friday's close, the junior explorer announced an evaluation of historic and 2008 drill hole data on the Amer Lake Main Zone uranium deposit in Nunavut, demonstrating a minimum target of 11.5 to 17.5 million pounds from 6,200,000 tonnes at 0.084% U3O8 to 13,400,000 tonnes at 0.06% U3O8, respectively. The deposit extends from surface to a depth of 140 metres.