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February 21, 2010
Week In Review…
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Week In Review For
February 16 to 19, 2010
Canadian Companies mentioned include:
U.S. Companies mentioned include:
This week on AllPennyStocks.com:
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WEEKLY UPDATE – NORTH
AMERICAN MARKETS UP ON HOLIDAY SHORTENED WEEK
Markets in North America emerged refreshed
from holidays this week, expressing relief at improved
economic numbers, a relief that showed itself in better
equity numbers.
The S&P/TSX Composite Index closed Friday’s trading at
11709.29, a leap of 239.48 points, or 2.1%, on the week.
Its smaller cousin, the TSX Venture Exchange, came home
at 1531.9, up 33.15 points or 2.3%.
In New York, the Dow Jones Industrials also had a good
time, climbing 303.21 points, or just over 3%, during a
short week, to 10,402.35
The broader S&P 500 finished at 1,109.17, ahead of the
previous Friday by 33.66 points, or 3.2%, while the
tech-rich Nasdaq index advanced 60.34 points, or 2.8% on
the week to 2,243.87.
On Monday Canadian traders observed Family Day – at
least in several provinces – while American investors
paused for Presidents Day.
Economically speaking, Statistics Canada said the
country’s wholesale trade in current dollars increased
by 0.7% to $42.80 Billion in December, in line with
forecasts. The machinery and electronic equipment sector
contributed the most to the growth in December. Sales in
this sector climbed 1.2% to $8.8 Billion.
Later in the week, it was revealed that consumer prices
rose 1.9% in the 12 months to January, following a 1.3%
increase in December. On a monthly basis, prices rose
0.4% from December. The inflation rate is just below the
central bank’s 2% target and is unlikely to trigger
interest rate hikes before the second half of 2010.
In another report, the agency said Non-residents
acquired $11.2 billion of Canadian securities in
December and Canadian investment in foreign securities,
which was up in November after four months of
divestments, slowed to $663 million in December.
Stateside, the consumer price index rose 0.2% last month
on the back of higher energy prices. Economists surveyed
had expected an increase of 0.3%. Meanwhile, core
inflation, which strips out volatile energy and food
items, fell for the first time since 1982.
Elsewhere, it was reported that housing starts jumped
2.8% in January to an annual rate of 591,000, which was
more than expected.
Housing starts were expected to have reached an annual
rate of 580,000 units in January, according to a
Briefing.com consensus of economist forecasts.
Building permits, a measure of houses yet to be built,
fell 4.9% to an annual rate of 691,000 units in January,
which was better than expected. The rate of permits was
expected to have slipped to 620,000 in January.
The U.S. Bureau of Labor Statistics reported import and
export prices for January. Import prices rose 1.4% and
export prices rose 0.8%, the government said.
The coming week features payroll employment, earnings
and hours in Canada, on Thursday, while in the States,
look for consumer confidence figures on Tuesday, new
home sales on Wednesday, durable goods orders Thursday
and fourth-quarter Gross Domestic Product numbers
Friday.
Among stocks on which we cast an eye this week,
Groundstar Resources Ltd. (TSX-Venture:GSA) stumbled 6.5
cents, or 19.7%, on the week to 33 cents, despite
peaking at 43 cents during the day Tuesday.
Diversified services company Focus Ventures Ltd.
(TSX-Venture:FCV), started the week with similar
promise, enjoying a high of $1.03, before sliding to 94
cents, down a penny on the week, or 1.1%.
In the States, miner Petaquilla Minerals Ltd.
(OTCBB:PTQMF) shot from its original 66 cents to a high
of 71.5 cents, before tailing off to 65 at Friday’s
close, off a penny or 1.5%. Compatriot drug maker
MabCure Inc. (OTCBB:MBCI), however, had a much better
time of it, climbing from 51 cents the Friday before to
57 cents last Friday, a gain of six cents or 11.8%. It
had peaked as high as 58 cents.
Now, if you had invested in all four stocks, you’d have
suffered an average loss of 2.6%, eased slightly by the
strong performance of MBCI. But if you’d taken positions
and sold these stocks at each of their peaks, you’d have
gained an average of 9.4%.
Next week, look for strong performances from Triton
Energy Corporation (TSX-Venture:TEZ) and Avanti Mining
Inc. (TSX-Venture:AVT), while American stocks to watch
this week are Options Media Group Holdings Inc.
(OTCBB:OPMG), an Internet up-and-comer, as well as drug
maker NanoLogix Inc. (Pink Sheets:NNLX).
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Forward Looking Statements
This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “we are confident” or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company’s growth expectations and ongoing funding requirements, and specifically, the Company’s growth prospects with scalable customers, and those outlined above. Other risks include the Company’s limited operating history, the Company’s history of operating losses, consumers’ acceptance, the Company’s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company’s securities, the possible volatility of the Company’s stock price, the concentration of ownership, and the potential fluctuation in the Company’s operating results.
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