Today on Stockhouse
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Thom Calandra kicks some tires at a Colombian oil producer and micro-cap gold play, and finds lots to like.
Iraqi oilfields, despite the obvious risks, could be among the most exciting energy investments in the world, according to Fawzia Sheikh.
And as junior gold mining companies soar, investors need strong stomachs and a high level of discretion in this speculative, but potentially lucrative sector, says Jeff Clark.
Top Bullboards post: Anglelo1949 posted to the Aquila Resources (TSX: T.AQA, Stock Forum) Bullboard: “For me it makes no difference if the stock price goes down 3 or 4 cents or goes up 3 or 4 cents, the gene is out of the box. 125 gramms [sic] of gold does not accumulate in one spot only, I am more than convinced that there is enough gold and silver to make a mine. What i fail to understand is why are people selling for a few pennies of profit when there is a good chance for the stock to go over a $1 in a coupple [sic] of years. Naturally it is my opinion and I couldn't care less if anyone buys this stock on my opinion. I am in to see the mine and I strongly believe there will be a mine one day based on my understand of the geology. “Good luck everyone”
Top Bullboard: Provision Holding (OTC:BB: PVHO, Stock Forum) collected the most posts, while Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: T.HNU, Stock Forum) received the most reads.
Top blog: littleguy123 explains why gold bears continue to contradict each other in his Outside the Market 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
"You would think, after getting the S&P 500 up more than 60% from its March lows, that we would see a lot of this," said strategist Sam Stovall, of Standard & Poor's, in an interview with MarketWatch. "But the reality is that there are enough buyers out there right now to soak up the tax-loss selling, either because they want to add to their holdings or to take some cash off the sidelines."
Today In The Markets
Markets notch moderate gains
Toronto & New York (The Canadian Press) - The Toronto stock market closed little changed with the market weighed down by financials amid growing caution about the threat posed by high government debt levels.
The S&P/TSX composite index finished the day up 10.29 points to 11,379.22, supported by mining stocks. The Canadian dollar rose 0.84 US cent to 94.83 cents US.
Investor nervousness increased after Standard & Poor's lowered its outlook on Spain's debt rating, a day after rival Fitch downgraded its rating on Greece.
Oil dropped $1.95 to US$70.67 a barrel while gold moved down $22.50 to US$1,120.90 an ounce.
New York markets closed higher with the Dow Jones industrial average rising 51.08 points to 10,337.05. The Nasdaq composite index moved 10.74 points higher to 2,183.73. The S&P 500 index added 3.95 points to 1,095.89.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Lululemon (NASDAQ: LULU, Stock Forum) The company’s Q3 quarterly report and Q4 forecast topped Street expectations. After the bell, Lululemon forecast fourth quarter earnings between 26 cent and 28 cents per share on revenue between $140 million and $145 million. Analysts were expecting earnings of 27 cents per share on revenue of $134.4 million.
Cline Mining Corp (TSX: T.CMK, Stock Forum) The company announced that a National Instrument 43-101 report about its Cline Lake gold property in the Wawa gold camp of Northern Ontario identified seven new gold zones and areas for potential future exploration work. The company said that it would embark on a program to drill 20,000 metres to test these targets at a cost of $2.5 million for the first phase.
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