Stockhouse @ the Bell: U.S. stocks up as gold plunges

Today on Stockhouse

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Peter Kennedy reports on why the Sino Forest fallout could hit this potash stock in his Stockhouse Movers & Shakers column.

Top Bullboards post: “If you are interested, you can run some simple math to calculate out what the potential potash total is under PPI lands. All you need to know is the weight/volume of kcl, and how to calculate volume when given acres as a measurement. Then all you need to do is look at Intrepid Potash - presently the largest potash producer in the USA - and you should be able to get yourself some answers. I'll give you a hint… 10% KCL within an 8 foot horizon, across one quarter of PPI's 120,000 acres (that's 40,000 acres) gives you about a 100 year mine life, assuming you produce a million tons a year. Now go look at Intrepid Potash (the company Pat Avery was… ahem… excused from) and figure out how much potash they sell per annum and what their enterprise value is....” From MLEMC on the Passport Potash (TSX: V.PPI, Stock Forum) board.

Top Bullboard:Passport Potash (TSX: V.PPI, Stock Forum) added the most posts and the second-most reads on a day its stock dropped more than 25%.

Top blog: tsxvgroup is bullish on this gold junior, which the blogger claims has a tiny float that is almost all held by insiders in the KSM.v - .10 huge gold deposit 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

"All these things together are getting me concerned," said Douglas Cote, chief market strategist for ING Investment Management, in an interview with Associated Press. "With Europe's banks under so much duress and Greece near an imminent default, you can't tell me the U.S. is insulated from their problems. I don't buy it."

Today In The Markets

Toronto stock market closes more than 200 points lower as gold plunges

DJIA	11,061.12	+68.99
NASDAQ	2,495.09	+27.10
S&P500	1,162.27	+8.04
S&P/TSX	12,148.83	-238.71
S&P/TSX Venture	1,745.53	-39.57

Toronto & New York (The Canadian Press) - The Toronto stock market closed down more than 200 points amid plummeting gold prices and fresh anxiety over a potential default by the Greek government on its loans.

The S&P /TSX composite index fell two per cent or 238.71 points to close at 12,148.83.
Wall Street markets, not as sensitive to declines in commodity prices, closed higher after turning around earlier losses.

The Dow Jones industrial average added 68.99 points at 11,061.12, while the S&P 500 index gained 8.04 points to 1,162.27. The Nasdaq index rose 27.10 points to 2,495.09.

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

After-Hours News

American Defense Systems, Inc.(AMEX: EAG, Stock Forum)
American Defense Systems, Inc., a provider of advanced transparent and opaque armor, architectural hardening and security products for Defense and Homeland Security, announced that it has appointed Kevin J. Healy to the position of Chief Operating Officer (COO) and Secretary and General Alfred M. Gray as Chairman of the Company's Board of Directors, both appointments are effective as of September 6, 2011. Mr. Healy has been acting Chief Operating Officer since October 2010 and succeeds Fergal Foley, who has been appointed to the new position of Senior Vice President of Government Relations and Business Development.

Rye Patch Gold Corp. (TSX: V.RPM, Stock Forum)
Rye Patch Gold Corp. announced the appointment of Mr. Alnesh Mohan as Chief Financial Officer of the Company. Mr. Mohan is a Chartered Accountant and a partner at Quantum Advisory Partners LLP ("Quantum"). Quantum is a chartered accounting firm specializing in providing accounting and financial reporting support to junior resource companies. Mr. Mohan has over 16 years of accounting, auditing and tax experience providing advisory services to a wide array of clients.