Today on Stockhouse
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Peter Degraaf suggests investors hold onto their core gold/silver positions and add during pullbacks.
This as Jeb Handwerger believes price volume action signals counter-trend move in U.S. dollar and gold.
Top Bullboards post: “Stans did not drill Kutessay II, they drilled Kutessay III, which will have no impact on the JORC numbers. Assays are still in the lab, and results are pending for that new zone. All they did with Kutessay II is resample the walls of the Soviet adits. They still need to drill underneath the delineated resource to see just how big the dome-shaped body is, but my understanding is that drill program is not part of the JORC. Based on the considerable work that the Soviets did on the property, I think we should all expect something similar to the historical 51,300 ton, .3 REO grade for the JORC confirmation. It'd be wrong to think the engineering company that Stans Hired for the JORC could double the resource based on resampling. I don't know what the discrepencies are though between the Soviet method of identifying a resource, and the mothed required in a JORC. We could see different numbers based on which is more conservative. All that being said, I'm sure once the JORC is out, Larsthor would be right in thinking that offtake-type deals are in the works. From everything I've read, Japan is desperate.” From JMInvestor5 on the Stans Energy (TSX: V.RUU, Stock Forum) board.
Top Bullboard: BonTerra Resources (TSX: V.BTR, Stock Forum) received the most posts and the second-most reads.
Top blog: MRSPEC points to what the blogger believes is a promising lithium play in the Day trade or buy and hold 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
The push for mergers and acquisitions is a good sign for investors, said Uri Landesman, the president of Platinum Partners, in an interview with Associated Press. "It's a statement that companies are moving out from under the bombshells of 2008 and 2009 and that they don't think there will be another disaster," he said.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
 |
| Abercrombie & Fitch Co. (NYSE: ANF) |
Q3 |
$0.51 vs. $0.55 |
|
| China Digital TV Holding (NYSE: STV) |
Q3 |
$0.12 vs. $0.08 |
|
| Home Depot (NYSE: HD) |
Q3 |
$0.48 vs. $0.41 |
|
| Saks Incorporated (NYSE: SKS) |
Q3 |
$0.03 vs. $0.01 |
|
| Sina Corp. (NASDAQ: SINA) |
Q3 |
$0.43 vs. $0.34 |
|
| Wal-Mart Stores (NYSE: WMT) |
Q3 |
$0.90 vs. $0.84 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Petrobank Energy and Resources (TSX: T.PBG) |
Q3 |
$0.33 vs. $0.56 |
|
Today In The Markets
Resource stocks push TSX lower; N.Y. declines despite solid retail sales data
|
| DJIA |
11,201.97 |
+9.39 |
 |
|
| NASDAQ |
2,513.82 |
-4.39 |
 |
|
| S&P500 |
1,197.75 |
-1.46 |
|
|
| S&P/TSX |
12,735.41 |
-13.83 |
|
|
| S&P/TSX Venture |
1,982.18 |
-24.91 |
|
|
(The Canadian Press) TORONTO-NEW YORK - The Toronto stock market closed little changed Monday, depressed by resource stocks amid worries about European government debt and a slowing Chinese economy.
The S&P/TSX composite index closed 13.83 points lower at 12,735.41 while the TSX Venture Exchange declined 25.05 points to 1,982.09.
The Dow Jones industrial average was up 9.39 points at 11,201.97.
The Nasdaq composite index declined 4.39 points to 2,513.82 while the S&P 500 index slipped 1.46 points to 1,197.75.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Nordstrom, Inc. (NYSE:JWN, Stock Forum)
today reported net earnings of $119 million, or $0.53 per diluted share, for the third quarter ended October 30, 2010. This represented an increase of 42.6 percent compared with net earnings of $83 million, or $0.38 per diluted share, for the same quarter last year. Net sales in the third quarter were $2.09 billion, an increase of 11.7 percent compared with net sales of $1.87 billion during the same period in fiscal 2009.
Revett Minerals Inc. (TSX: T.RVM, Stock Forum)
announced its consolidated operating and financial results for the third quarter ended September 30, 2010. The company recorded total sales of US$12.4 million (53% increase over $8.1 million in the third quarter of 2009) based on average market prices of $18.96 per oz. silver and $3.29 per lb. copper. Net income in the quarter was $2.1 million or 2 cents a share, compared to a net loss of $1.4 million or 1 cent a share in the third quarter of 2009.