Stockhouse @ the Bell: U.S. stocks up on Greek hopes

Today on Stockhouse

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James Turk of GoldMoney.com believes gold and silver are forming promising bullish divergences.

While Jeb Handwerger describes the Goldman Sachs rare earth rigmarole.

Top Bullboards post: “One billion is what the whole of Iraq produces each year, you aren't going to get that out of one well... 6000 is a very good number from one zone. They will put more wells down eventually. The API is very good so recovery factors will be high and I would guess from the flow rate the OIP may well come out on the high side. The critical thing for me about today’s RNS is that WZR now have 6K bopd of potential production of which they will get 35% of the value of in cost recovery or about $210K/day ($80 million/year). WZR has spent a lot of money over the last 2 years and this will allow them to have organic growth where they use past costs recovered to drill further holes. This limits dilution going forward which was one of the major risks. Their budget for this year is equal to the cost oil they will get from S-1, i.e. ~$80 million and it’s allowing them to drill ~3 holes each of which could produce another 6K bopd. That could be used to fund 9 wells next year. Rinse and repeat till you have a lot of production.” From livic1971 on the WesternZagros Resources (TSX: V.WZR, Stock Forum) board.

Top Bullboard:Copper Fox Metals (TSX: V.CUU, Stock Forum) received the second-most reads on a day its stock price slipped more than 8%.

Top blog: James54 provides a simplified guide on how to understand drill (assay) results for mining stocks in the miningstocksguide.com 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 market is battling between growing fears that the U.S. economy is headed toward another downturn, and some progress on the European debt problems," said Peter Tuz, president at Chase Investment Counsel, in an interview with CNNMoney.

Today In The Markets

TSX declines despite surging oil prices, solid Scotiabank earnings

DJIA	12,569.79	+128.21
NASDAQ	2,835.30	+38.44
S&P500	1,345.20	+14.10
S&P/TSX	13,802.88	-26.78
S&P/TSX Venture	2,094.47	-3.49

Toronto & New York (The Canadian Press) - The Toronto stock market closed lower Tuesday, capping a negative trading month with traders worried about slowing economic conditions and the European debt crisis.

The S&P/TSX composite index declined 26.79 points to 13,802.88, as energy stocks had little reaction to a sharp surge in oil prices while the financial sector failed to respond to solid earnings from the Bank of Nova Scotia (TSX:BNS).

"The reality is there is a lot of uncertainty and there's very little that has happened to resolve the uncertainty," said Norman Raschkowan, North American strategist at Mackenzie Financial Corp.

New hopes that a deal would be reached for Greece to avoid defaulting on its debts sent New York stocks higher.

The Dow Jones industrials jumped 128.21 points to 12,569.79.

The Nasdaq composite index advanced 38.44 points to 2,835.3 while the S&P 500 index ran up 14.1 points to 1,345.2 despite data showing a surprise drop in U.S. consumer confidence.

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

After-Hours News

Roadrunner Transportation Systems Inc. (NYSE: RRTS, Stock Forum)
Roadrunner Transportation Systems Inc. announced that it has acquired all of the outstanding stock of Bruenger Trucking Co., a provider of truckload services based in Wichita, Kansas, for approximately $10.6 million, plus an earn-out capped at $3 million. Bruenger transports primarily refrigerated product throughout the United States, utilizing a combination of independent contractors and a modern fleet of company-owned equipment. The acquisition was financed with borrowings under Roadrunner's amended and expanded credit facility.

Defiance Capital Corp. (TSX: V.DEF, Stock Forum)
Defiance Capital Corp. announced the signing of an option agreement to acquire a 100% interest in two mineral concessions in the State of Zacatecas, Mexico. The two contiguous concessions comprising the Santa Elena Project host historic mine workings on epithermal silver-lead-zinc veins. The project is located in north central Zacatecas approximately 15 km from the village of Jimenez de Teul and is accessible by gravel road. The historic workings date back to the Spanish Colonial Era, with additional limited production in the 1900's from two levels developed by two shallow shafts.