Stockhouse @ the Bell: Stocks slide with Euro

Today on Stockhouse

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Alena Mikhan and Andrey Dashkov of Casey Research explains why they believe gold stocks are cheap - dirt cheap.

Top Bullboards post: “Yea, thanks for that, although I think AGG still looks better. I like the idea of potential 5-10 baggers backed by PEA or FS valuations without the need to take on exploration risk, especially in these markets. Somehow I can sleep better no matter what the market is doing. I also prefer plays where the companies can take their projects to production since your upside is limited to 30-50% if you're relying on a take-out. That's why I'm also looking for IRR's of around 50% or better for quick payback. I'll throw and idea out. AXM has a market cap of about $51M with a Bankable FS showing a NPV of $609M and an IRR 49.6% (after-tax) at a gold price of $1,375 per oz. There is perceived country and financing risk with this play although the share price has been moving up steadily from the lows (from .04 to 6.5).” From dmuy on African GoldGroup (TSX: V.AGG, Stock Forum) board.

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

Top blog:littleguy123 discusses the effects of a U.S. savings-rate drop in the Outside the Market blog.

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

Word on Wall Street

"The problems these countries are dealing with go well beyond their prime ministers," said Dan Greenhaus, chief global strategist at the brokerage BTIG, in an interview with Associated Press. "Italy didn't get where it is in five minutes. And it's not going to get out of where it is in five minutes. This is going to take months."

Today In The Markets

Toronto stock market falls amid rising concerns over Italy's financial situation

DJIA	12,078.98	-74.70
NASDAQ	2,657.22	-21.53
S&P500	1,251.78	-12.07
S&P/TSX	12,224.19	-52.66
S&P/TSX Venture	-52.66	-2.79

TORONTO, NEW YORK (CP) - The Toronto stock market closed lower Monday as concern about the European debt crisis discouraged buyers, while markets continued to demand worrisomely high interest rates to buy up Italy's debt.

Lower mining stocks led the S&P /TSX composite index dropped 52.66 points to 12,224.19 while the TSX Venture Exchange slipped 2.79 points to 1,638.52.

U.S. markets were lower as the Dow industrials lost 74.7 points to 12,078.98, the Nasdaq was down 21.53 points to 2,657.22 while the S&P 500 index was off 12.07 points to 1,251.78.

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

After-Hours News

Mercantile Bancorp, Inc. (AMEX: MBR, Stock Forum)
Mercantile Bancorp, Inc. announced that it has submitted a written notice to the NYSE Amex of its intention to voluntarily delist its Common Stock, par value $0.4167 per share, from AMEX and intends to terminate the registration of the Common Stock under the Securities Exchange Act of 1934, as amended. Effective as of November 8, 2011, the Board of Directors of the Company approved the voluntary delisting and deregistration of the Common Stock. The Company intends to initiate the deregistration and delisting by filing with the Securities and Exchange Commission a Form 25 on or after November 28, 2011.

SIRIOS RESOURCES INC. (TSX: V.SOI, Stock Forum)
SIRIOS RESOURCES INC. announces the reimbursement, through shares issuing, of the $150,000 convertible debenture completed in November 2008 with SIDEX, Limited Partnership. As specified in the original terms of the debenture, a total of 3,000,000 shares will be issued at a price of $0.05 each, following the approvals of regulatory authorities, in addition to a cash payment of $9,074 for accrued interest. SIRIOS is a mining exploration leader in James Bay, Quebec.