Stockhouse @ the Bell: Soft recovery comments damage stock markets

Today on Stockhouse

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Thom Calandra believes the BioCryst drama is accelerating.

This as David & Eric Coffin asserts that volume is telling the tale for metals and resource stocks.

Top Bullboards post: Bigbeach2010 noted: “Take into consideration that most jr producers and exploration plays are down today. You are fortunate to be "in" at .12, I believe that this is just a start. I did sell 20% of what I had today but was burnt pretty bad (my mistake) in the last year simply because I did not take profits when the ops were there (believing that a company will reach a certain value is often just a dream). I think we should look at what has happened as good, there are now new investors that are looking up from here, with the smallish float it will not take much to propell us higher, wether it be from higher PM prices or from more decent results.” On the Oro Silver Resources Bullboard.

Top Bullboard: Wavefront Technology Solutions (TSX: V.WEE, Stock Forum) received the most posts and the second-most reads on a day its stock slipped 11%.

Top blog: hrock posted an interview of what Jim Rogers is saying about commodities in the $HardRocks For You blog.

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

Word on Wall Street

"People are reaching for a little less risk today after we've had such a run," said Bill Stone, chief investment strategist at PNC Wealth Management, in an interview with Associated Press.

Today In The Markets

Markets mixed

DJIA	10,246.97	+20.03
NASDAQ	2,151.08	-2.98
S&P500	1,093.01	-0.07
S&P/TSX	11,426.74	-60.14
S&P/TSX Venture	1,345.13	-10.35

Toronto & New York (The Canadian Press) - The Toronto stock market snapped a solid five-day winning streak in a decline led by energy and mining stocks.

The S&P/TSX composite index fell 60.14 points to 11,426.74 after surging 5.6 per cent since last Monday.

The Canadian dollar was up two-thirds of a cent to 95.23 cents US. Oil fell 38 cents to US$79.05 a barrel after the International Energy Agency lowered its global oil demand forecast from 106 million barrels per day to 105 million. And it said that new technologies that have opened up vast reserves of natural gas will lead to a glut in supply for years to come.

Gold hit another record close, rising $1.10 to US$1,102.50 an ounce.

New York markets were mixed following comments from U.S. Federal Reserve officials that unemployment likely will remain high for the next several years because the economic recovery won't be strong enough to spur robust hiring. The U.S. jobless rate for October came in at 10.2 per cent.

The Dow Jones industrial average was ahead 20.03 points to 10,246.97, while the Nasdaq composite index was down 2.98 points to 2,151.080 and the S&P 500 index was off 0.07 of a point to 1,093.01.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Cisco (NASDAQ: CSCO, Stock Forum)
The networking giant said that it would consider dropping its bid for Norwegian video conferencing firm Tandberg if its offer does not see 90% of shares tendered to the deal.

Finning International (TSX:T.FTT, Stock Forum)
The Caterpillar re-seller reported a drop in quarterly earnings and revenue after the bell. Blaming “tough market conditions,” the company said it earned 13 cents per share, compared with year ago earnings of 37 cents per share. Revenue declined 27% to $1.1 billion, although the company cited continuing strength in its South American operations.