Stockhouse @ the Bell: Stocks dive on global worries

Today on Stockhouse

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Get the facts on gold investing including eight exclusive feature stories in the Stockhouse North American Gold Report.

Thom Calandra writes about spicing up gold prospectors and reveals some actionable stock items amid the ruins.

Top Bullboards post: “We should soon find out more on the economics of this project. These numbers below are low balled big time. Silver is now $40 bucks an ounce and could see $75 dollars or higher in the not too distant future. You can pretty much double these numbers below in my opinion which would give Orko a double from current price levels for a bigger fish like Pan American to swallow them up to boost silver reserves. After-tax net present value at a 5-per-cent discount rate of $315-million (assuming prices of $25.00 per ounce silver and $1,250 per ounce gold).” From coffintrader on the Orko Silver (TSX: V.OK, Stock Forum) board.

Top Bullboard:Wi-LAN Inc. (TSX: T.WIN, Stock Forum) received the most reads and posts on a day its share price slipped more than 6%.

Top blog: taylor1988 makes a case for this junior gold stock going much higher in the Newstrike Capital blog.

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

Word on Wall Street

"Every time the economy got the sniffles, we had the Federal Reserve standing by with tissues," said Jack Ablin, chief investment officer at Harris Private Bank, in an interview with Associated Press. "This time around, I think the box is empty, and we're going to have to go through this alone. I think we can do it. It's just not something we're accustomed to."

Today In The Markets

Toronto Stock Exchange closes nearly 400 points lower on recession fears

DJIA	10,990.58	-419.63
NASDAQ	2,380.43	-131.05
S&P500	1,140.65	-53.24
S&P/TSX	12,186.71	-392.90
S&P/TSX Venture	1,770.63	-49.56

Toronto & New York (The Canadian Press) - The Toronto stock market closed nearly 400 points lower Thursday amid a global selloff sparked by weak economic reports that spooked already-jittery investors with the spectre of another recession.

The S&P /TSX composite index was down 392.9 points at 12,186.71.

The Dow Jones industrial average slid 419.63 points to 10,990.58. The S&P 500 index fell 53.24 points to 1,140.65 while the Nasdaq composite index lost 131.05 points to 2,380.43.

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

After-Hours News

Foot Locker, Inc.(NYSE: FL, Stock Forum)
Foot Locker, Inc., the New York-based specialty athletic retailer, reported financial results for its second quarter ended July 30, 2011. Net income for the company's second quarter ended July 30, 2011 was $37 million, or $0.24 per share, compared with net income of $6 million, or $0.04 per share, last year. Second quarter sales increased 16.3 percent, to $1,275 million this year, compared with sales of $1,096 million for the corresponding prior-year period

Andean American Gold Corp. (TSX: V.AAG, Stock Forum)
Andean American Gold Corp. announces that it has reached a debt settlement arrangement with Sinchao Metals Corp. (TSX: V.SMZ, Stock Forum) in relation to certain outstanding debt owed by Sinchao to the company. The Company has agreed to accept 8,888,889 common shares at a deemed price of $0.09 per share in settlement of $800,000 of indebtedness owing by Sinchao to the company. In addition, the company has agreed to a private placement in Sinchao of a further 2,222,222 units at a price of $0.09 per unit for total investment of $200,000.