Today on Stockhouse
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Andrew Mickey of Q1 Publishing describes what rising interest rates mean for the price of gold.
While Jeff Nielson provides what he considers to be a conservative silver forecast.
Top Bullboards post: “Common sense tells you that it may be the same anomaly. As a matter of fact if you see 93+00 again, you'll see that the ore body is getting BIGGER as you go NorthWest towards the GLD boundary. AND because this type of ore body IS VERY LARGE and DEEP, TRR's PORPHYRY deposit (most likely WORLD CLASS) MAY just well extend onto GLD territory as well. Thus I bought GLD too, although not as much as TRR (I never buy AREA plays unless it shows great promise). Anyways in a nutshell I think there's TREMENDOUS AMOUNT of GOLD at Cote Lake to satisfy just about EVERYONE. Also, I think subsequent release of MONSTER holes by TRR will BOOST GLD as well.” From docmz on the Augen Gold (TSX: V.GLD, Stock Forum) board.
Top Bullboard: Uranium One (TSX: T.UUU, Stock Forum) received the most reads and the third-most posts on a day its share price slipped more than 6%.
Top blog: mallgirl believes drill success is imminent for this gold junior in the Mallgirl's Musings blog.
For news about small stocks that made big moves in Monday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
“The fear of contagion is out there — Portugal and Spain is the big dog out there that everybody is concerned about. It’s the old cockroach theory; there is never just one cockroach,” said Jay Suskind, senior vice president at Duncan-Williams Inc., in an interview with MarketWatch.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Frontline (NYSE: FRO) |
Q4 |
$0.33 vs. $0.05 |
|
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Today In The Markets
Toronto stock market dips back into red as investor jitters return
|
| DJIA |
11,052.49 |
-39.51 |
 |
|
| NASDAQ |
2,525.22 |
-9.34 |
|
|
| S&P500 |
1,187.76 |
-1.64 |
|
|
| S&P/TSX |
12,895.65 |
+2.94 |
 |
|
| S&P/TSX Venture |
2,050.80 |
-6.20 |
|
|
Toronto & New York (The Canadian Press) - Most shares traded lower Monday and the euro fell as markets worried about the European debt crisis.
The S&P/TSX composite index also rebounded from a loss earlier in the session, finishing the day up 2.9 points, or 0.02 per cent, at 12,895.7.
The TSX-Venture exchange was down 6.2 points to 2050.8.
In New York, the Dow Jones industrial average was down 39.51 points, or 0.4 per cent, at 11,052.49.
The Standard & Poor's 500 index was down 1.64 points, or 0.14 per cent, at 1,187.76, while the Nasdaq composite index was down 9.34, or 0.37 per cent, at 2,525.22.
In London, the FTSE 100 closed down 1.8 per cent. Germany's DAX fell 2.2 per cent, while the CAC-40 index in France fell 2.5 per cent. In Tokyo earlier, the Nikkei 225 average rose 0.9 per cent.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Seagate Technology plc (NASDAQ: STX, Stock Forum)
Seagate Technology plc said its board of directors terminated discussions with private equity firms regarding a going private transaction, principally because it determined that the indications of the valuation range were not in the best interest of the company and its shareholders. Additionally, Seagate’s board of directors has authorized the company to repurchase up to an additional $2 billion of its outstanding ordinary shares. This new share repurchase authorization continues Seagate’s commitment to enhancing shareholder value.
Ridgement Iron Ore Corp. (TSX: V.RDG, Stock Forum)
Ridgement Iron Ore Corp. is pleased to announce that, subject to TSX Venture Exchange approval, it will undertake a non-brokered private placement with two institutional investors of 2,000,000 flow-through shares of the company at a price of $0.60 per Flow-Through Share for gross proceeds of $1,200,000 each flow-through share qualifies as a "flow-through share" for the purposes of the Income Tax Act (Canada). The funds raised from the flow-through private placement will be used by Ridgemont for exploration expenditures on its properties and specifically will be used to conduct a drilling program on the Redford iron ore property on Vancouver Island, British Columbia.
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