Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
In today’s Ticker Trax, Thom Calandra discusses his gold price forecast and the newsletter’s returns for 2009.
Nick Barisheff explains why he believes the gold price could go parabolic in 2010.
And, Tom Dyson of DailyWealth describes the most popular alternative energy no one's talking about.
Top Bullboards post: Following news of gold intercepts at its Treaty Creek property, LD500 wrote on the Teuton Resources (TSX: V.TUO, Stock Forum) Bullboard: “Teuton might consider a poison pill if they think they found something big.
“Teuton and American Creek together have a market cap of less than $40M.
“Spending $60M to swallow up both might be worthwhile for Silver Standard or Seabridge.
“A good time to keep holding TUO. Solid hope for a big payday this summer.”
Top Bullboard: Great Western Minerals Group (TSX: V.GWG, Stock Forum) received the second-most reads and the third-most posts on a day its share price slid 13%.
Top blog: lattes asserts that this oil and gas junior could be set to run in the Small fish, big ideas. Enjoy lattes investingblog.
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 always watch for the Alcoa numbers, but it's not necessarily the most representative marker of the economy at this point," said Cantor Fitzgerald strategist Marc Pado, in an interview with MarketWatch. "We've had a very successful, technology-driven bull market since the market's March lows. Intel is very much at the heart of that, and they need to succeed for things to continue in the right direction."
Today In The Markets
Worries about the strength of the economic recovery send stocks lower
|
| DJIA |
10,627.26 |
-36.73 |
 |
|
| NASDAQ |
2,282.31 |
-30.10 |
|
|
| S&P500 |
1,136.22 |
-10.76 |
|
|
| S&P/TSX |
11,820.18 |
-126.95 |
|
|
| S&P/TSX Venture |
1,577.17 |
-31.36 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market slid almost 200 points mid-afternoon Tuesday, with commodity stocks bearing the brunt of the selloff as aluminum giant Alcoa Inc. delivered disappointing earnings and China moved to cool off a hot economy.
The Alcoa earnings raised worries that the economic recovery will be slower than expected while the Chinese action to curtail economic growth put pressure on commodity prices because of concerns about a possible slowing of demand.
The S&P/TSX composite index tumbled 178.4 points to 11,768.8.
New York's Dow Jones industrial average fell 87.4 points to 10,576.5.
The Nasdaq composite index was down 38.79 points to 2,273.62 while the S&P 500 index was off 15 points to 1,132.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Yahoo (NASDAQ: YHOO, Stock Forum)
The internet company said on Tuesday that it would sell Zimbra, a start up that makes technology for email, to VMware (NYSE: VMW, Stock Forum) as it continues to streamline its operations. Terms of the deal were not disclosed.
Yamana Gold (TSX: T.YRI, Stock Forum)
The miner said after the market close that production from continuing operations is expected to be in the range of 1.03 million to 1.145 million gold equivalent ounces in 2010 and up to 1.15 million ounces in 2011. The company also cited four development stage projects that should be in production in 2012, increasing production by approximately 390,000 gold equivalent ounces