Stockhouse @ the Bell: Stocks tumble on economic gloom

Today on Stockhouse

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

Thom Calandra writes about stepping out for aggressive gold discoveries.

This as Peter Degraaf believes those who sold silver at $50 could soon be sorry.

Top Bullboards post: “This company is trading well below where it should be...They intend to prove up a 2 million oz gold find over the next year and were trading at a market cap of approximately $70 million?? What the...? That's a $3 Billion gross metal resource! Sure it's a bit of a down day...but honestly, some people just don't get it...Mark my words...One day we're gonna have results released and people are going to suddenly..."Get it" and this company is going to jump 50 cents or a buck...The fact that we are still trading at these levels from the paper overhang has me shaking my head...People have got to understand the resource...Sure, it's not high grade. It's a large tonnage, low grade, near surface, oxidized resource in a mine friendly country that one day is gonna pay off in spades...” From Toasted2 on African Gold Group (TSX V.AGG, Stock Forum) board.

Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.

Top blog: rich471 explains why the blogger respects George Soros except on gold in the Gold Prices - Forecast blog.

For news about small stocks that made big moves in Wednesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"If we have a payrolls number with revisions that is anything like the ADP on Friday, then we are going to struggle over the next couple of months," said Jim Paulsen, chief investment officer at Wells Capital Management, in an interview with Reuters.

Today In The Markets

Stock markets tumble, data reinforces worries about U.S. economic recovery

DJIA	12,290.14	-279.65
NASDAQ	2,769.19	-66.11
S&P500	1,314.55	-30.65
S&P/TSX	13,527.88	-275.00
S&P/TSX Venture	2,067.42	-27.05

Toronto & New York (The Canadian Press) - The Toronto stock market tumbled almost two per cent as a selloff across all sectors was triggered by further evidence that the U.S. economy is faltering.

The S&P /TSX composite index fell 275 points to 13,527.88 amid big disappointments on the U.S. employment and manufacturing fronts and the TSX Venture Exchange dropped 27.05 points to 2,067.42.

New York markets also retreated with the Dow Jones industrial average plunging 279.65 points to 12,290.14.

The Nasdaq composite index was 66.11 points lower to 2,769.19 while the S&P 500 index lost 30.65 points to 1,314.55.

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

After-Hours News

CalAmp Corp. (NASDAQ: CAMP, Stock Forum)
CalAmp Corp. a leading provider of wireless products, services and solutions, announced that its Board of Directors has appointed Michael Burdiek to serve as President, Chief Executive Officer and Director of CalAmp, effective today. Most recently, Mr. Burdiek held the position of President and Chief Operating Officer, and he succeeds Rick Gold as the Company's Chief Executive Officer. Mr. Gold will continue serving CalAmp in a new role as Vice Chairman of the Board of Directors and will focus on supporting the Company's strategic initiatives.

Crystallex International Corp. (TSX: T.KRY, Stock Forum)
Crystallex International Corp. reported that it has been served with a Notice of Application by certain holders of the senior unsecured notes of Crystallex that are due December 23, 2011. The noteholders are seeking a declaration from the Court that there has been a "Project Change of Control" event as defined in the First Supplemental Indenture made as of December 23, 2004 which would require Crystallex to purchase all of the notes of each note holder who has so requested at a price equal to 102% of the principal amount of the notes, together with accrued and unpaid interest to the date of purchase.