Stockhouse @ the Bell: U.S. stocks fall on tech retreat

Today on Stockhouse

Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.

Ticker Trax’s Thom Calandra writes about Sierra Leone's stellar diamonds.

While Peter Kennedy explains how Sprott's Nuttall trolls for energy sector value in his Stockhouse Movers & Shakers column.

Top Bullboards post: “EPO advantages in my opinion: 1/ most upside in sp possible (presently oversold); 2/ continuous land package not well understood (EPO doesn't have to separately negotiate with every farmer, rancher and claim squatter, with each negotiation getting more expensive as the last lease holders become more valuable). Provincial lands have 10-50 stakeholders. EPO has one stakeholder, the FN that they already have an agreement with; 3/ access to capital (FN, Endeavour Financial ties, Gordon Keep, Federal gov't, Chinese, India); 4/ What I believe will be the shortest timeline to production. Even BHP's money can't sidestep the environmental issues and permitting that faces them never mind PPI and Western.” From RetiringYoung on the Encanto Potash (TSX: V.EPO, Stock Forum) board.

Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts on a day its stock price surged more than 16%.

Top blog: LexLuthor2 is hoping this stock will give his portfolio a jolt in the Lex Corp 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

"People are coming back into the commodity markets because they think that in the back of their minds the global growth story will continue," said Zahid Siddique, an associate portfolio manager at Gabelli Equity Trust, in an interview with Associated Press.

Today In The Markets

Mining stocks take TSX slightly higher; oil declines amid demand concerns

DJIA	12,548.37	-47.38
NASDAQ	2,782.31	-46.16
S&P500	1,329.47	-8.30
S&P/TSX	13,391.35	+14.19
S&P/TSX Venture	1,996.27	-41.95

Toronto & New York (The Canadian Press) - The Toronto stock market closed little changed Monday as investors attempting a rally following a string of losses in recent days gave in to further worries that recent strength in commodity prices is on the wane.

The resource-heavy S&P/TSX composite index came down from a 142-point surge to close up 14.19 points to 13,391.35, while the TSX Venture Exchange slipped 41.95 points to 1,996.27. The Canadian dollar was lower against the greenback, down 0.59 of a cent to 102.65 cents US.

New York markets were lower as the Dow Jones industrial average dropped 47.38 points to 12,548.37.

The Nasdaq fell 46.16 points to 2,782.31 and the S&P 500 index ticked 8.3 points lower to 1,329.47.

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

After-Hours News

Urban Outfitters, Inc. (NASDAQ: URBN, Stock Forum)
Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, Free People, BHLDN, Terrain and Urban Outfitters brands, today announced net income of $39 million or earnings per diluted share of $0.23 for the first quarter ended April 30, 2011. That was down from $53 million or 31 cents in the same period last year. Total company sales in the quarter rose to $524 million from $480 million a year earlier.

Forsys Metals Corp. (TSX: T.FSY, Stock Forum)
Forsys Metals Corp. said it welcomes the official media statement issued on May 10, 2011 by Namibia's Minister of Mines and Energy, the Honourable Isak Katali in which he clarifies that "the existing exploration and mining licenses will not be affected" by proposed changes in government policy. This confirms that the exploration and mining licenses held by Forsys subsidiaries for its uranium projects, Valencia (Mining License "ML" 149), Namibplaas (Exclusive Prospecting License "EPL" 3638), and for its gold projects, Ondundu (EPL 3195) and Omaruru (EPL 3166), will not be impacted. The Statement was issued to clarify previous comments on April 20, 2011 by Mr. Katali in the Namibian Parliament regarding the proposed rights of state-owned mining company, Epangelo Mining Company (Pty) Ltd, in the development of certain specified "strategic minerals" which include uranium and gold.