Today on Stockhouse
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AllPennyStocks.com discusses four stocks under 20 cents worth a second look.
Things are always the worst at the bottom, says Gartman: Part I, from The Gold Report.
J.W. Cotton provides some stock picks with good insider buying.
Curious call buying in NFLX, says Jud Pyle.
Buzz on the Boards stopped by the Horizons BetaPro NYMEX Crude Oil Bear Plus ETF(TSX: T.HOD, Stock Forum) Bullboard, where members were discussing Friday’s GDP numbers.
Top Bullboards post:“Even though gold put in a higher high this morning, gold stocks (hui gold bugs index) put in a lower high (lower than four or five days ago). That is a negative divergence. Higher gold should mean higher gold stock prices, unless a substantial correction is in the works. One technician I follow says that is the case. We shall see. Often these juniors dance to a different drummer, but they are far from immune. So if large cap gold stocks roll over, Venture traded micro caps might hold up, but probably will give back a lot of recent gains[sic]…” – From pipefit2 on the Rye Patch Gold Corp. (TSX: V.RPM, 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:caldernet discussed “technical indicators” on the $100,000 goal blog Friday.
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
"Demand remains very high internationally for ETFs, gold certificates and bullion coins and bars," Mark O'Byrne, executive director at Gold and Silver Investments told MarketWatch. "We've seen "continuing safe haven demand for gold" due to "sharp deterioration in the global economy."
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Aflac Incorporated (NYSE: AFL) |
Q4 |
$1.00 vs. $0.78 |
|
| BE Aerospace (NASDAQ: BEAV) |
Q4 |
$0.46 vs. $0.46 |
|
| First Marblehead Corporation (NYSE: FMD) |
Q2 |
-$0.33 vs. -$1.26 |
|
| Mattel (NYSE: MAT) |
Q4 |
$0.72 vs. $0.76 |
|
| SanDisk (NASDAQ: SNDK) |
Q4 |
-$0.60 vs. $0.69 |
|
| Trident Microsystems (NASDAQ: TRID) |
Q2 |
-$0.13 vs. $0.30 |
|
Today In The Markets
Worsening economies, downbeat forecasts, job cuts send stock markets lower
|
| DJIA |
8,000.86 |
-148.15 |
 |
|
| NASDAQ |
1,476.42 |
-31.42 |
|
|
| S&P500 |
825.88 |
-19.26 |
|
|
| S&P/TSX |
8,694.90 |
-67.86 |
|
|
| S&P/TSX Venture |
882.63 |
+2.09 |
 |
|
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TORONTO, NEW YORK (CP) - Stock markets closed lower Friday in the face of figures showing deepening economic contraction, the possible impact of "buy America" restrictions in the U.S. economic stimulus package and rapidly worsening conditions in Japan.
Toronto's S&P/TSX composite index closed down 67.86 points to 8,694.90 to end the week up a slight 67 points. It ended the month down 293 points or 3.25 per cent, weighed down by a 7.5 per cent slide in financials. The TSX Venture Exchange edged up 2.09 points to 882.63.
New York's Dow Jones industrials fell 148.15 points to 8,000.86 after data showed the U.S. economy sagged at a 3.8 per cent annualized pace at the end of 2008, the worst showing in a quarter-century. The Nasdaq composite index moved down 31.42 points to 1,476.42 while the S&P 500 index was 19.26 points lower to 825.88.
Please click here for current U.S. and Canadian market summaries.
After-Hours News
Medical Intelligence Technologies (TSX: V.MIZ)
After Friday's close, the provider of monitoring solutions for the mobile telecare industry announced that its Directors have modified the CEO's compensation and reduced his salary from $260,000 to $195,000.