Today on Stockhouse
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Andrew Mickey discusses when to buy on bad news.
Mike Swanson takes a look at a confirmed cyclical bull market.
Don't trust the new rally until you see this signal, says Tom Dyson of DailyWealth.
The second anniversary of the credit crisis has arrived, says John Whitefoot.
Buzz on the Boards visited the BioMS Medical (TSX: T.MS, Stock Forum) and Allen-Vanguard (TSX: T.VRS, Stock Forum) Bullboards.
Top Bullboards post: “I have real reasons that I short NG. People missed the run on oil and they are buying NG to make up for it, bad reason. There is lots of it and it will not change. Going into fall contango will kill ETF's. The amount of NG that UNG owns will get dumped maintaining large contango”… - From Tgarfield on the Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: T.HNU, Stock Forum) Bullboard.
Top Bullboard: Once again, Premium Exploration (TSX: V.PEM, Stock Forum) ended the day with the most posted Bullboard on Stockhouse.
Top blog: In a post on the Canadian Junior Energy Sector blog,Iamwcw discussed some recent buys.
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
“The numbers we saw today aren't necessarily a deal breaker, but on the other hand, people don't need a big excuse to take money off the table at this point," Art Hogan, chief market analyst at Jefferies & Co. told MarketWatch. "We haven't really had a lot of catalysts to do that."
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| ArcelorMittal (NYSE: MT) |
Q2 |
-$0.21 vs. $4.19 |
|
| Choice Hotels International (NYSE: CHH) |
Q2 |
$0.42 vs. $0.49 |
|
| ConocoPhillips (NYSE: COP) |
Q2 |
$0.85 vs. $3.49 |
|
| Sprint Nextel Corporation (NYSE: S) |
Q2 |
-$0.02 vs. $0.06 |
|
| Visa (NYSE: V) |
Q3 |
$0.64 vs. $0.59 |
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Agnico-Eagle Mines (TSX: T.AEM) |
Q2 |
US$0.12 vs. $0.09 |
|
| Goldcorp (TSX: T.G) |
Q2 |
US$0.15 vs. $0.12 |
|
| OPTI Canada (TSX: T.OPC) |
Q2 |
N/A vs. -$0.04 |
|
Today In The Markets
Toronto market ends session with triple-digit decline as oil prices rescind
|
| DJIA |
9,096.72 |
-11.79 |
 |
|
| NASDAQ |
1,975.51 |
+7.62 |
 |
|
| S&P500 |
979.62 |
-2.56 |
|
|
| S&P/TSX |
10,570.54 |
-186.89 |
|
|
| S&P/TSX Venture |
1,128.11 |
-18.93 |
|
|
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TORONTO, NEW YORK (CP) - Investors pulled back on recent optimism and sent the Toronto stock market down nearly 200 points on Tuesday, motivated partly by weaker oil prices.
The S&P/TSX composite index backtracked 186.89 points to close at 10,570.54.
The Canadian dollar ended at 92.33 cents U.S., down 0.17 of a cent.
The TSX energy sector moved 1.9 per cent lower as the light, sweet crude for September delivery fell $1.15 to US$67.23 a barrel on the New York Mercantile Exchange.
On Wall Street, the Dow Jones industrials closed down 11.79 points to 9,096.72.
The Nasdaq composite increased 7.62 points to 1,975.51 while the S&P 500 index gave back 2.56 points to 979.62.
Please click here for the current U.S. and Canadian market summaries.
After-Hours News
DreamWorks Animation (NASDAQ: DWA)
After Tuesday’s market close, the company reported financial results for its second quarter, including total revenue of $132 million and net income of $25.6 million, or 30 cents per share on a fully diluted basis. This compares to revenue of $141.5 million and net income of $27.5 million, or 30 cents per share on a fully diluted basis, for the same quarter of 2008.