Stockhouse @ the Bell: Stocks slammed by detail-less bailout plan

Today on Stockhouse

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Andrew Mickey discusses investment opportunities in depression-like conditions.

Gold and silver too risky at these levels? asks Chris Vermeulen.

SPY Feb straddle is a sign of increased risk taking, says Jud Pyle.

Gaming stocks could be worth the gamble, notes AllPennyStocks.com.

Buzz on the Boards stopped by to observe conversation on the Certicom Corp. (TSX: T.CIC, Stock Forum) and Tiomin Resources (TSX: T.TIO, Stock Forum) Bullboards.

Top Bullboards post:“I am not convinced that the bail out will even have an effect... Printing money is not going to solve this problem... It will only compound it...Maybe delay the inevitable... [sic]” – From Newt3 on the Horizons BetaPro NYMEX Crude Oil Bull Plus ETF (TSX: T.HOU, Stock Forum) Bullboard.

Top Bullboard: Uranium One (TSX: T.UUU, Stock Forum) had one of the most posted Bullboards of the day.

Top blog:jackp27talked about a7800 Dow on the A New York Nickel blog Tuesday.

For news about small stocks that made big moves in Tuesday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"We were told last fall that if we didn't do something immediately it would be a catastrophe. And they did something quickly and there wasn't a lot of accountability, it wasn't well spent and there wasn't a catastrophe," Scott Armiger, portfolio manager at Christiana Bank & Trust told the Associated Press. "So there's a lot of skepticism in the bank plan."

Today In The Markets

Investors frustrated with bank bailout send stocks tumbling; C$ falls sharply

DJIA	7,888.88	-381.99
NASDAQ	1,524.73	-66.83
S&P500	827.16	-42.73
S&P/TSX	8,817.89	-229.39
S&P/TSX Venture	902.09	+0.99

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TORONTO, NEW YORK (CP) - The Toronto stock market and the Canadian dollar tumbled Tuesday on disappointment with U.S. Treasury Secretary Timothy Geithner's plan to help the financial sector.

New York markets also racked up big losses as investors showed little reaction to the U.S. Senate's approval of its US$838-billion economic stimulus package. The bill must now be reconciled with an US$819-billion version passed by the House.

Toronto's S&P/TSX composite index snapped a five-session winning streak to close down 229.39 points or 2.5 per cent to 8,817.89 led by a four per cent drop in the financial sector. The TSX Venture Exchange was 0.99 of a point higher to 902.09.

New York's Dow Jones industrial average plunged 381.99 points or 4.6 per cent to 7,888.88 as Geithner said the plan will greatly expand an effort to unclog the credit markets. The Nasdaq composite index declined 66.83 points to 1,524.73 while the S&P 500 index dropped 42.73 points to 827.16.

Please click here for current U.S. and Canadian market summaries.

After-Hours News

Applied Materials (NASDAQ: AMAT)
After Tuesday's close, the chip equipment giant reported a first-quarter net loss of $133 million, or 10 cents a share, compared with a net profit of $262 million, or 19 cents a share, during the same period last year. On an adjusted basis, the company posted flat earnings. Revenue was $1.3 billion, down from $2.1 billion. The company's results included a restructuring charge of $133 million related to a global cost reduction program it unveiled in November 2008. Analysts expected flat earnings on revenue of $1.35 billion.

Sierra Wireless (TSX: T.SW)
The maker of wireless modems, after Tuesday's closing bell, posted a fourth-quarter profit of $34.7 million, or $1.12 a share, up from $11.5 million, or 37 cents a share, last year. Revenue slipped to $132.9 million from $135.6 million. Sierra said its quarterly results included $18.4 million in unrealized foreign exchange gains as well as a $6.5 million tax benefit.