Action Economics morning alert

7:34 November 25, 2009, EDT.
(Canadian Press)

How A Broke MIT Student Discovered a Secret Strategy That Turned $1,000 into $1.4 MILLION in Just 13 Months… INVESTING IN PENNY STOCKS!

(Action Economics) - 06:04 EST Oil Action: Oil prices are higher as a weaker USD is boosting the appeal of oil as a hedge against inflation and as stock markets benefit from renewed growth confidence. A Bloomberg survey predicts crude-oil inventories grew by 1.5 m barrels last week. Yesterday, the American Petroleum Institute reported that distillate fuels, such as heating oil and diesel fell by 2.36m barrels last week. As of 10:52GMT the January Nymex future was up 21 cents per barrel at USD 76.23, after trading in a range between USD 75.78 to USD 76.60.

05:22 EST Germany sells EUR 4.105 bln of 5-year 2014 Bobls with a coupon of 2.5% at an average price of 110.680, bringing the average yield to 2.350%. The lowest price was 100.670 and total bids amounted to EUR 7.171 bln, bringing the bid-to-cover ratio to 1.7, slightly less than the 1.8 in the last 5-year auction. The Bundesbank held back EUR 0.895 bln for market smoothing purposes, bringing the total top up amount to EUR 5 bln and the overall volume of the issue to EUR 17 bln.

05:14 EST Gold Action: Gold rallied to new record highs of $1180.00 after a broadly softer dollar tone encouraged fresh momentum fund demand. Price action was choppy in Europe after early attempts to break $1180.00 were rebuffed by scrap selling and good fund profit take orders ahead of $1180.00. However, the backdrop of broad based dollar selling following the FOMC minutes encouraged ongoing demand on dips, along with reports reports that India is open to buying more gold from the IMF. The backdrop of bullish fundamentals and a supportive technical picture raises the risk of a test of $1200 level, which is reportedly where more outstanding option positions are noted.

04:39 EST U.K. Q3 GDP was revised up to -0.3% quarter over quarter and -5.1% year over year as expected, from -0.4% and -5.2% in the preliminary release. The main reason for the upward revision to the headline reading was an upward revision of services sector output, to -0.1% quarter over quarter from -0.2%, though the contraction of the sector continues to stand in contrast to survey data which suggested that output grew last quarters. (In particular, the distribution, hotels and catering sector saw a large upward revision, now estimated to have expanded by 0.3% quarter over quarter in Q3, versus -1.0% in the first Q3 release.) Total industrial production fell 0.8% quarter over quarter, revised down from -0.7% and in line with September IP data. Meanwhile, the demand side of the economy saw consumer spending flat quarter over quarter after declining 0.6% quarter over quarter in Q2. Exports grew by 0.5% quarter over quarter but imports rose by a far stronger 1.3% quarter over quarter, with net exports not contributing to growth in Q3 either. Gross fixed capital formation declined by 0.3% quarter over quarter, while government spending rose by 0.2% quarter over quarter. Gilt futures have climbed on the release, and the 10-year December contract is now up 19 ticks at 118.89, versus 118.68 just prior to the release.

04:06 EST Italian September retail sales dropped 0.1% month opver month, and 1.6% year over year, after rising 0.1% month opver month in the previous month. September data meant sales dropped 0.5% quarter over quarter in Q3, which points to a negative contribution from private consumption to overall GDP growth in Q3. As in Germany, rising unemployment is weighing on confidence and consumption trends and while overall consumer confidence improved in November, to 112.8 from 111.7, the personal economic climate index dropped, which highlights remaining downside risks.

02:37 EST ECB's Trichet said central bank has been able to prevent deflation. Trichet told Dutch newspaper Het Financieele Dagblad, that the ECB was "able to prevent the risk of deflation from becoming reality thanks to a solid anchoring of inflation expectatoins". He added that at the same time the ECB has not affected its "ability to maintain price stability in the medium term". Trichet stressed that the global financial system need to be improved as it turned out to be "far too fragile."

02:10 EST German December GfK consumer confidence declined to 3.7 from 4.0 in November. This was weaker than the Bloomberg median of 4.0 and the GfK said that the decline was "primarily a result of growing public fears of rising unemployment". The labour market has been surprisingly resilient so far, but a marked rise is expected for the coming months. Q3 GDP data already saw consumption falling again and with confidence coming down, subdued consumption trends will continue to weigh on overall growth. The breakdown, which is only available until November, showed the reading for price expectations rising sharply, while the overall economic climate index as well as personal income expectations declined. The reading for the willingness to buy still nudged higher in November, but the details for December are likely to show a different picture.

02:03 EST Equity Action: Asian shares rallied, extending the recovery that was seen in the latter part of the Wall Street session (which was seen after the Fed upgraded revised upwards its 2010 growth expectation and the FOMC minutes showed that officials were increasingly confident about the durability of economic recovery). The MSCI Asia Pacific index was up 0.8%, making a one-week high. Helping fuel the move were remarks from RBA Battelino, who described Australia's commodity linked economy as having entered a "new upswing" and that it was reasonable to expect growth to extend for a "few more years yet." There was also IPO news, with China Pacific Insurance getting the go-ahead to raise $3.4 bln in Hong Kong while CapitaMalls Asia shares surged over 8% on their Singapore debut (Reuters).

01:33 EST Japan's corporate services price index fell 2.2% in October from a year earlier, the Bank of Japan said on Wednesdsay, but the pace of falls narrowed for the second straight month. The index, which tracks business-to-business services, rose 0.1% from September and was the first rise in four months. The data is encouraging, but the basic picture in Japan is still one of price softness and shows that Japan is still struggling to expect from deflation, which has been a bone-of-contention for policy makers. These number reinforce expectations that the BoJ will stay on hold indefinitely and may also up the political pressure as Japan looks to end its unconventional policy steps at the end of the fiscal year in March 2010.

01:24 EST Japan's trade surplus came in at Y807.1 bln, which was much higher than expectations for Y452.2 bln. The break down showed a 23.2% fall in October exports and imports fell 35.6%. The fall in exports was at its slowest pace in a year and helped to boost its surplus, which will reinforce expectations that the economy is recovering, although economic stimulus packages around the world have been a strong influence. Exports are likely to slow in 2010 as the impact of stimulus fades and this will be a worry for Japanese policy makers as it looks to navigate its way out of recession.

00:46 EST Oil Action: NYMEX crude traded close to $76 bbl after it fell 2% on Tuesday after a sharp downward revision in U.S. GDP data. API data was also a big disappointment and came in much stronger than expected, with crude stocks building 3.3 million in the week to November 20, which was compared to forecasts for 1.2 million. The market is on tenterhooks ahead of the EIA data due later today and likely to maintain a bearish tone intra-day.

00:38 EST Gold Action: Gold rallied to new record highs of $1177.90. The move higher was boosted by fund names and good interest from Tocom buyers after the market responded to reports that India is open to buying more gold from the IMF. The RBI may buy the IMF's remaining hoard of 201.3 tonnes on acceptable terms, which are now under negotiation. The next level of resistance is at $1180 and may be protected by scrap selling and light profit take orders ahead of Thursday's Thanksgiving holiday. However, the backdrop of bullish fundamentals and a supportive technical picture raises the risk of a test of $1200 level, which is reportedly where more outstanding option positions are noted. Elsewhere, the Vietnam central bank granted quotas to import 10 tonnes of gold after the 6.8 tonnes it imported in recent weeks.

18:53 EST RBA Deputy Governor Battellino said Australian home prices relative to income are high historically and versus other countries due to the fall in inflation over the last 20 years, speaking on Housing and the Economy from Melbourne.

The fall in inflation has allowed lower interest rates, prompting households to take out bigger home loans that are then reflected in rising prices. He said that "most people agree" that the ratio of house prices to incomes in Australia is higher than in the U.S. But he concludes that the "experience of the last few years suggests that the Australian household sector as a whole appears to have the financial capacity to sustain a relatively high ratio of housing prices to income." This would seem to point to a lack of worry at the RBA over the risk of a housing bubble forming. On the economy, he was consistent with recent RBA-speak, observing that the global economy is growing again and that outperformance by Asian economies is positive for Australia.

FX Overnight

The dollar came under heavy selling pressure in Europe as intra-day accounts and momentum funds forced the index down to new trend lows of 74.633. The market was encouraged by broad based gains across equity markets, but also took its lead after the Fed said the dollar decline was orderly in Tuesday's FOMC minutes. USD-JPY stole the headlines after it broke 88.00, which saw Japanese hedgers force a follow through move on 87.57 before any significant support emerged. Elsewhere, Cable consolidated around 1.6700 after the U.K. GDP was revised up to -0.3% quarter over quarter. Market interest for the pound peaked early after speculation of a big upward revision and the official release fueled light position squaring, which was generally absorbed by Asian sovereigns. The commodity bloc currencies benefited from a new record high for gold around $1180.00, which boosted AUD-USD to 0.9292, forced USD-CAD below 1.0500 and lifted NZD-USD above 0.7300.

USD-JPY extended overnight losses to trade at 87.57 lows. JPY rallied sharply after large USD-JPY barriers gave way at 88.00. Heavy interest was noted from Japanese exporters and real money names, which forced a move down to 87.57 lows. There was temporary support around 87.70, but exporters panicked after their deep in-the-money JPY calls were knocked out at 88.00. Larger size positions are noted at 87.50 and 87.10 and yen buying interest will accelerate if these levels give way. There was market speculation that a quasi-official bid held the downside, along with real money demand for EUR-JPY at its lows. Howver, the JPY crosses are well offered, with EUR-JPY consolidating just under 132.00 after breaking support at 131.70-80 to hit 131.53 lows, while AUD-JPY to reverted to session lows around 81.25. GBP-JPY traded in to 146.00, but rebounded to 146.80 on persistent sterling support via Cable and EUR-GBP. Note, there was ongoing speculation in Asia that equity related flows would benefit JPY ahead of the month end and this should hamper any recovery across the JPY components.

EUR-USD made an early push on 1.5020-25 offers and extended to session highs of 1.5045 as the broad uptick in risk fueled momentum account demand. There was talk that an Asian account and a supranational name layered offers between 1.5020 and 1.5050 due to heavy strike congestion. Plain vanilla interest is due to roll off at 1.4950, 1.4980, 1.5000, 1.5020, and 1.5050-60, which may fuel aggressive shorts to sell in to 1.5050, with a tight stop due to previous failures to sustain 1.5000. However, the Fed's comment that the dollar decline is orderly should leave impetus with the topside as intra-day accounts absorb gamma related selling. There is speculation that the Double-No-Touch positions between 1.4800 and 1.5100 have been rolled over to November 30 and could see protective sellers higher up. Given the heavy two way flows range bound trade looks likely, but with the market biased to higher levels. Large stop losses have been established above 1.5070 and 1.5110.

Turn $1,000 into $10,000.00 in Just 6 Months… INVESTING IN PENNY STOCKS!

Elsewhere, the market overlooked eurozone data releases, which were generally few and far between, with only German Gfk on the agenda and it slipped to 3.7 in December from 4.0 previously.

GBP longs pared back positions after U.K. Q3 GDP met expectations after an upward revision to -0.3% quarter over quarter. Early on in the session a U.S. name was a good buyer and touted speculation of a much larger than expected revision to -0.1% quarter over quarter. However, this looked like a bid to force a rally and Cable successfully overcame 1.6700 offers and traded at 1.6727 highs, but further gains were limited for the remainder of the session. A softer dollar backdrop combined with Asia and Middle Eastern sterling demand was a supportive influence and raised talk of equity flows related to the Lloyds rights issue. However, market insiders claim that these flows are likely to be neutral given that U.K. investors are the main participants. Cable is changing hands around 1.6700 and EUR-GBP briefly moved back above 0.9000 before succumbing to good European account offers. The broad equity market bid is likely to support sterling in the near-term, with the improving risk profile expected to temper any adjustment in positions. Sovereign-backed bids in Cable at 1.6770 and 1.6750 provided support and EUR-GBP has struggled since two Swiss names capped its rise at 0.9057 on Tuesday amid corporate related orders.

CHF firmed up after the dollar reverted to the downside after the Fed looked as if it gave the greenlight for more dollar selling as the FOMC minutes described the decline as orderly. USD-CHF moved under 1.0100 on Tuesday and extended to 1.0026 lows as momentum accounts moved in following an upbeat Asian equity market performance and gains across Europe. EUR-CHF was pressurised as a result and tested 1.5080-90 bids. Tuesday's comments from SNB's Roth also provided some impetus for swissy longs after he said the SNB did not have a specific forex target, although he also maintained that the Bank is weighing up the right moment for a policy change. The combination of SNB/Fed remarks could see the SNB's resolve tested today, with USD-CHF eyeing 1.0025-30 bids and EUR-CHF closing in on the 1.5080 support. Large stops are building in the cross at 1.5050, 1.5020, 1.4980 and 1.4950, with a close below 1.0030 opening up the downside to parity.

CAD gains were boosted by the strong bid in gold, which traded at new record highs of $1180.00. USD-CAD pulled back from 1.0586 highs and triggered stops under 1.0500. The Russian central bank said that it was preparing to invest reserves in Canadian dollars, which added to the bid tone and a low of 1.0479 was noted.

Fixed Income Overnight

European Morning Session

European debt futures are higher, having reversed earlier losses. Gilts rose on the U.K. GDP release pulling Bunds with them, but Gilts are still outperforming significantly. The second GDP release saw an upward revision to -0.3% quarter over quarter from -0.4% reported initially, though market rumours ahead of the release of an upward revision to -0.1% sparked the Gilts relief rally. Meanwhile, stock markets are higher on the day.

As of 10:56GMT the December 10-year Bund future is up 6 ticks at 122.78, while the corresponding Gilt future is up 35 ticks at 119.05. In the cash market the 10-year Bund yield is flat at 3.25% and the 10-year Gilt future is down 3 bp at 3.62%. By comparison the DAX is up 0.55% and the FTSE 100 is up 0.60% as of 10:42GMT.

Today's calendar has revised U.K. Q3 GDP, which is expected to be revised up to -0.3% quarter over quarter and -5.1% year over year(medians same), from-0.4% quarter over quarter and -5.2% year over year reported previously. In the eurozone, German December GfK consumer confidence, slipped to 3.7 (median 4.0) from 4.0. Italy released retail sales and consumer confidence. Still to come, ECBspeak from Mersch.

Pescod Talks about...

STERLING RESOURCES

(V-SLG)

John Clarke was an award winning Oil & Gas analyst a

couple of years ago and we are still thankful for some of

the picks he gave us way back then.

After a couple of

stressful years at Candax Energy, where little joy was ex-

perienced, he is now moving into a story that we figure a

year from today is going to be very, very interesting.

Today CGX Energy Inc. announced an update they’ve

just committed to the Guyanese Government about their

work plans, and meanwhile Clarke is getting used to his

new surroundings as Vice President of Business Develop-

ment for CGX Energy. So it is only natural for us to ask the

obvious question … John, if you could only buy one stock

today what would it be? He answers Sterling Resources,

which is currently the same name being given by Kevin

Shaw.

Sterling has a bunch of drilling starting over the next

several months in the North Sea, and with oil prices where

they are now, the North Sea suddenly makes a lot of sense.

There may be some tough, high upfront costs in the North

Sea, but the British Govt. at least let’s you keep some

money, unlike Libya, Alberta and many other places.

So what gives, we wonder—as yesterday, gold soared

$30-some dollars, but by the end of the day the majority of

gold stocks were actually down.

A favorite oil stock we follow, which is so close to impor-

tant events happening in its history just sits there (mind

you, it has had a good year this year so far)...what is going

on?

Canaccord gold guy Nicholas Campbell who picked big

winners like Ventana Gold and some of the best performing

gold stocks and Kevin Shaw, the analyst at Wellington West

who has also picked some pretty good stories in the oil sec-

tor such as Bankers Petroleum and Painted Pony, both have

the same suggestions why some stories might have stalled.

They point out that the big folks who run the big mutual

funds, the pension funds and other private funds are look-

ing at their performance over the last while and the stock

market has been rather generous.

So why not lock in some profits so you can get those

bonuses you do when you do have an excellent quarter.

Once again, obviously they are into the profit-taking

mode and that could be one excuse for what happened

in the gold sector yesterday. The incentive is there for

the big money managers to lock in that profit.

Campbell suggests that while some of the good gold

stocks are now trading at the lower range of their statis-

tical relationships, it could stay that way for a while.

Campbell suggests that there will undoubtedly be a little

tax-loss selling affecting some of the stocks as we get

closer to Christmas and year end and he also suggests

that when we get to the New Year, and all the managers

start fresh for the quarter, they will be thinking “okay, so

what should I buy?” which he believes will give some

stories a nice bump in early January.

Meanwhile, Kevin Shaw, the oil guy suggests the

same as the fund managers will look around to start tak-

ing positions in their favorite new stories in early Janu-

ary.

Campbell does warn though that a lot of gold compa-

nies have recently done financings and lots of paper will

come trading in February and one should be very aware

of whether ones gold company did or did not participate

in those financings.

For those looking for leverage in the gold sector,

there are way too many gold stocks that have way too

many shares outstanding. So no wonder, so many have

done so little while gold has done so well. That is usu-

ally the case for juniors, but one can see the same thing

for seniors.

Kinross can barely make any money it seems at this

high level of gold price and yet it has 700 million shares

outstanding. Barrick Gold has close to 1 billion shares

outstanding. Both stocks have done little while gold has

sold off.

When we ask one analyst why anyone would own a

Kinross or a Barrick, he suggests the simple answer is

liquidity.

Leaders On Nasdaq, TSX TSX-V - High % Gainers

PRICE % GAINERS

Symbol Name Last Trade Change Volume Related Info WIX.TO WINSTAR RESOURCES COM NPV 3.05 1:58PM EST 0.71 (30.34%) 166,944 Reports, More TPL.TO TETHYS PETROLEUM L ORD USD0.10 0.70 1:45PM EST 0.09 (14.75%) 1,057,895 Reports, More HMM-A.TO HAMMOND MANUFACTURING CO LTD 0.89 1:00PM EST 0.11 (14.10%) 5,503 Reports, More HUX.TO HEARX CANADA INC EXCHANGEABLE S 0.79 1:24PM EST 0.09 (12.86%) 4,775 More YLD-PB.TO SPLIT YIELD CORP CLASS'II'PRF 1.75 1:12PM EST 0.17 (10.76%) 100 More MET.TO METALORE RESOURCES COM NPV 7.75 10:05AM EST 0.75 (10.71%) 150 Reports, More XWE.TO WORLD ENERGY SOLUTIONS INC 3.50 11:56AM EST 0.30 (9.38%) 816 Reports, More ISM.TO INSPIRATION MINING COM NPV 0.74 1:48PM EST 0.06 (8.82%) 84,751 Reports, More NGQ.TO CANADIAN GOLD HUNTER CORP 0.75 1:41PM EST 0.06 (8.70%) 509,654 More PNP.TO PINETREE CAPITAL L COM NPV 1.96 1:59PM EST 0.15 (8.29%) 1,503,333 Reports, More PRX.TO PROTOX THERAPEUTICS INC 0.69 1:50PM EST 0.05 (7.81%) 161,798 Reports, More MIM-B.TO MI DEVELOPMENTS COM NPV CL'B' 15.00 12:06PM EST 1.00 (7.14%) 100 More FT.TO FORTUNE MINERALS L COM NPV 0.65 1:47PM EST 0.04 (6.56%) 66,375 Reports, More CTA.TO CROCOTTA ENERGY INC COM NPV 1.00 1:39PM EST 0.06 (6.38%) 117,912 Reports, More AXR.TO ALEXCO RESOURCE CO COM NPV 2.94 1:53PM EST 0.17 (6.14%) 52,130 Reports, More ITP.TO INTERTAPE POLYMER COM NPV 2.51 1:47PM EST 0.14 (5.91%) 134,558 Reports, More BCF.TO BRONCO ENERGY LTD 0.54 1:29PM EST 0.03 (5.88%) 223,964 Reports, More MUN.TO MUNDORO MNG INC 0.72 1:51PM EST 0.04 (5.88%) 69,090 Reports, More CWL-A.TO CALDWELL PARTNERS INC CL A 0.55 9:30AM EST 0.03 (5.77%) 2,000 Reports, More TS-B.TO TORSTAR CLASS'B'N/VTG COM NPV 6.70 1:59PM EST 0.32 (5.02%) 17,534 Reports, More MKX.TO MKS INC 9.25 12:45PM EST 0.44 (4.99%) 9,946 Reports, More AEZ.TO AETERNA ZENTARIS COM NPV 1.10 1:35PM EST 0.05 (4.76%) 314,514 Reports, More MN.TO MARCH NETWORKS COR COM NPV 3.98 1:53PM EST 0.18 (4.74%) 3,540 Reports, More HOD.TO HORIZONS BETAPRO NYMEX 9.57 1:59PM EST 0.43 (4.70%) 1,222,192 Reports, More TWF-UN.TO TIMBERWEST FST CORP 4.69 2:00PM EST 0.21 (4.69%) 52,277 Reports, More

Here is an offer you won't believe VOLUME LEADERS Symbol Name Last Trade Change Volume Related Info MFC.TO MANULIFE FINL CORP COM NPV 18.58 1:56PM EST 0.20 (1.06%) 5,119,728 Reports, More XIU.TO ISHARES CDN S&P/TSX 60 IDX F 17.34 1:54PM EST 0.07 (0.40%) 4,979,739 More HOU.TO HORIZONS NYMEX Crude Oil Bull P 9.11 1:57PM EST 0.47 (4.91%) 4,427,601 More LUN.TO LUNDIN MINING CORP COM NPV 4.79 1:57PM EST 0.11 (2.35%) 4,251,147 Reports, More ELR.TO EASTERN PLATINUM COM NPV 0.93 1:57PM EST 0.07 (7.00%) 4,015,351 Reports, More HNU.TO HORIZONS BETAPRO NYMEX 9.43 1:57PM EST 0.19 (2.06%) 3,971,682 More YRI.TO YAMANA GOLD INC COM NPV 14.23 1:57PM EST 0.17 (1.18%) 3,671,187 Reports, More SU.TO Suncor Energy 38.91 1:57PM EST 0.11 (0.28%) 3,440,053 Reports, More RY.TO ROYAL BANK OF CANADA COM NPV 58.10 1:57PM EST 0.09 (0.15%) 3,148,688 Reports, More BMO.TO BANK OF MONTREAL COM NPV 53.96 1:57PM EST 0.41 (0.77%) 3,128,135 Reports, More NGD.TO NEW GOLD INC COM NPV 3.90 1:57PM EST 0.03 (0.78%) 3,104,548 Reports, More ELD.TO ELDORADO GOLD CORP COM NPV 14.49 1:57PM EST 0.06 (0.42%) 3,016,354 Reports, More HTE-UN.TO HARVEST ENERGY TR TRUST UNITS 9.91 1:56PM EST 0.01 (0.10%) 2,854,506 Reports, More HND.TO HORIZONS BETAPRO NYMEX 7.51 1:57PM EST 0.19 (2.47%) 2,631,673 Reports, More ABX.TO BARRICK GOLD CORP COM NPV 45.65 1:57PM EST 0.60 (1.30%) 2,410,694 Reports, More EQN.TO EQUINOX MINERALS COM NPV 4.03 1:56PM EST 0.05 (1.23%) 2,346,290 Reports, More SLW.TO SILVER WHEATON COR COM NPV 17.01 1:57PM EST 0.04 (0.23%) 2,289,799 Reports, More HGD.TO HORIZONS BETA PRO S&P/TSX BEAR 3.98 1:55PM EST 0.10 (2.58%) 2,217,547 More HGU.TO HORIZONS BETAPRO S UNITS CLASS 15.16 1:57PM EST 0.37 (2.38%) 2,208,284 More BBD-B.TO BOMBARDIER INC CLASS'B'S/VTG NP 4.82 1:54PM EST 0.14 (2.82%) 2,120,208 Reports, More SMF.TO SEMAFO INC 4.65 1:53PM EST 0.11 (2.31%) 2,067,770 Reports, More IMG.TO IAMGOLD CORP COM NPV 20.25 1:57PM EST 0.40 (1.94%) 2,055,186 Reports, More CEE.TO CENTAMIN EGYPT NPV 2.28 1:55PM EST 0.08 (3.39%) 2,040,204 More TLM.TO TALISMAN ENERGY IN COM NPV 18.30 1:57PM EST 0.31 (1.67%) 1,993,915 Reports, More BCE.TO BCE INC COM NPV 27.85 1:57PM EST 0.12 (0.43%) 1,962,796 Reports, More NASDAQ VOLUME LEADERS Symbol Name Last Trade Change Volume Related Info BRCD Brocade Communications Systems, 7.175 1:56PM EST 0.623 (7.99%) 80,823,833 Profile, Reports, More QQQQ PowerShares Exchange-Traded Fun 43.87 1:56PM EST 0.27 (0.61%) 38,843,861 Profile, Reports, More SEED Origin Agritech Limited 10.69 1:56PM EST 0.24 (2.30%) 38,060,350 Profile, Reports, More INTC Intel Corporation 19.42 1:56PM EST 0.02 (0.10%) 32,137,650 Profile, Reports, More MSFT Microsoft Corporation 29.85 1:56PM EST 0.09 (0.30%) 20,962,465 Profile, Reports, More ETFC E*TRADE Financial Corporation 1.62 1:56PM EST 0.02 (1.22%) 19,994,148 Profile, Reports, More DELL Dell Inc. 14.375 1:56PM EST 0.415 (2.81%) 19,492,301 Profile, Reports, More CSCO Cisco Systems, Inc. 23.67 1:56PM EST 0.23 (0.96%) 18,017,819 Profile, Reports, More DRYS DryShips Inc. 6.23 1:56PM EST 0.04 (0.65%) 15,683,792 Profile, Reports, More CMCSA Comcast Corporation 15.0881 1:56PM EST 0.0019 (0.01%) 14,254,089 Profile, Reports, More FITB Fifth Third Bancorp 9.98 1:56PM EST 0.19 (1.87%) 13,361,293 Profile, Reports, More ORCL Oracle Corporation 22.127 1:56PM EST 0.473 (2.09%) 12,172,991 Profile, Reports, More DTV DIRECTV 31.955 1:56PM EST 0.365 (1.16%) 11,972,438 Reports, More YHOO Yahoo! Inc. 15.35 1:56PM EST 0.10 (0.65%) 11,401,246 Profile, Reports, More COMS 3Com Corporation 7.44 1:56PM EST 0.02 (0.27%) 9,574,487 Profile, Reports, More AMAT Applied Materials, Inc. 12.27 1:56PM EST 0.13 (1.05%) 9,284,567 Profile, Reports, More CIEN Ciena Corporation 12.43 1:56PM EST 0.43 (3.58%) 8,999,340 Profile, Reports, More HBAN Huntington Bancshares Incorpora 3.76 1:56PM EST 0.04 (1.05%) 8,831,708 Profile, Reports, More TLAB Tellabs, Inc. 5.85 1:55PM EST 0.14 (2.45%) 8,366,697 Profile, Reports, More NLST Netlist, Inc. 6.47 1:56PM EST 0.03 (0.47%) 8,164,280 Profile, Reports, More FEED AgFeed Industries, Inc. 5.20 1:56PM EST 0.32 (6.56%) 7,855,187 Profile, Reports, More AAPL Apple Inc. 203.94 1:56PM EST 1.94 (0.94%) 7,223,195 Profile, Reports, More NUAN Nuance Communications, Inc. 14.94 1:56PM EST 1.19 (8.65%) 7,198,471 Profile, Reports, More PMCS PMC 7.96 1:56PM EST 0.35 (4.21%) 7,128,017 Profile, Reports, More NVDA NVIDIA Corporation 12.89 1:56PM EST 0.11 (0.85%) 7,006,802 Profile, Reports, More VOLUME LEADERS Symbol Name Last Trade Change Volume Related Info FWR.V FREEWEST RESOURCES CANADA INC. 0.63 1:47PM EST 0.01 (1.56%) 5,250,919 Reports, More EZ.V ENCORE RENAISSANCE RESOURCES CO 0.175 1:53PM EST 0.00 (0.00%) 4,117,445 More AVR.V AVION GOLD CORPORATION (Tier2) 0.43 1:56PM EST 0.015 (3.61%) 3,594,445 Reports, More TME.V TEMEX RESOURCES CORP. (Tier2) 0.24 1:53PM EST 0.02 (9.09%) 2,137,500 Reports, More TRX.V TERRANE METALS CORP (Tier1) 1.60 1:55PM EST 0.06 (3.61%) 1,849,337 Reports, More MRZ.V MIRASOL RESOURCES LTD. (Tier2) 1.06 1:56PM EST 0.39 (58.21%) 1,809,920 Reports, More SNM.V SHAMARAN PETROLEUM CORP (Tier2) 0.56 1:39PM EST 0.06 (12.00%) 1,792,050 Reports, More SGR.V SAN GOLD CORPORATION (Tier1) 3.70 1:55PM EST 0.13 (3.39%) 1,630,788 Reports, More RTE.V RESULT ENERGY INC. (Tier1) 0.305 1:25PM EST 0.005 (1.67%) 1,473,715 Reports, More DBO-A.V D-BOX TECHNOLOGIES INC. (Tier2) 0.325 1:31PM EST 0.005 (1.56%) 1,443,000 Reports, More ORT-A.V ORBITE V.S.P.A. INC. (EXPLORATI 0.16 1:51PM EST 0.03 (23.08%) 1,413,350 More ALE.V ALANGE ENERGY CORP (Tier2) 0.53 1:56PM EST 0.01 (1.85%) 1,332,744 Reports, More CPQ.V CANPLATS RESOURCES CORPORATION 3.47 1:48PM EST 0.07 (1.98%) 1,258,134 Reports, More TMM.V TIMMINS GOLD CORP. (Tier2) 1.16 1:54PM EST 0.04 (3.33%) 1,243,065 Reports, More CMM.V CENTURY MINING CORPORATION (Tie 0.20 1:34PM EST 0.00 (0.00%) 1,220,741 Reports, More EVG.V EVOLVING GOLD CORP (Tier1) 1.20 1:51PM EST 0.04 (3.45%) 1,020,871 Reports, More TVC.V TOURNIGAN ENERGY LTD (Tier1) 0.195 1:45PM EST 0.015 (7.14%) 1,017,280 Reports, More AAM.V ATACAMA MINERALS CORP. (Tier1) 0.50 1:39PM EST 0.00 (0.00%) 1,013,000 Reports, More GLW.V GOLD WHEATON GOLD CORP (Tier1) 0.35 1:49PM EST 0.00 (0.00%) 991,848 More UCU.V UCORE URANIUM INC (Tier2) 0.49 1:50PM EST 0.005 (1.03%) 947,400 Reports, More APA.V APELLA RESOURCES INC (Tier1) 0.21 1:54PM EST 0.04 (23.53%) 885,140 Reports, More THG.V THREEGOLD RESOURCES INC (Tier2) 0.19 1:29PM EST 0.015 (7.32%) 862,934 Reports, More GWG.V GREAT WESTERN MINERALS GROUP LT 0.29 1:42PM EST 0.01 (3.33%) 846,688 Reports, More NOT.V NORONT RESOURCES LTD. (Tier2) 2.22 1:56PM EST 0.08 (3.48%) 833,004 Reports, More USA.V U. S. SILVER CORPORATION (Tier1 0.195 1:53PM EST 0.005 (2.50%) 814,700 Reports, More

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Canadian Arrow drills sulphide mineralization at Glatz nickel project

Canadian Arrow drills sulphide mineralization at Glatz nickel project 08:59 EST Thursday, November 19, 2009

SUDBURY, ON, Nov. 19 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") is pleased to report it has intersected sulphide mineralization on its Glatz nickel copper project located 40 km south of Dryden Ontario and 70 km east of its flagship Kenbridge advanced nickel copper project.

Diamond drill hole GZ-09-02 intersected coarse blebby and finely disseminated sulphides from surface to the 90m interval. The mineralization is consistent with that displayed in trenches and outcrop exposures occurring at surface above the hole.

More significantly it also intercepted vein and stringer breccia sulphide bands over a 12m down-hole interval between 41.0m and 53.0m.

Initial examination of the core has identified encouraging widespread magmatic sulphide mineralization associated with breccia zones within a gabbro and pyroxenite intrusion. The geological model bears a resemblance to the Company's Kenbridge nickel-copper deposit. The Kenbridge deposit is also characterized by near-surface, wide-spread disseminated nickel-copper sulphide mineralization suitable for open pit extraction that resolves at depth into narrower, high grade semi-massive lenses and disseminated mineralization suitable for underground extraction.

Kenbridge and Glatz are only two of the 23 recorded nickel-copper sulphide bearing occurrences hosted within the same 220km ring of volcanics and ultramafic intrusives located between Dryden and Kenora, Ontario.

To date two NQ size holes have been logged and sampled for a total of 416m. Core samples have been split and sent out for analyses at an accredited laboratory in accordance with NI 43-101 best practice guidelines. No estimation can be concluded at this time of the extent or true widths of the mineralization. Additional drilling has been allocated to follow up on the mineralization.

Hole GZ-09-02 was drilled on coordinates 26+00N at 45+35E, at an azimuth of 180 degrees and a dip 0f -60 degrees. Hole GZ-09-01 was drilled on coordinates 26+00N and 45+85E at an azimuth of 180 degrees and a dip of -60 degrees. The hole was drilled through the northern intrusive/volcanic contact. Although sulphide mineralization is weak, the presence of variable sulphide, potassic, chloritic and silica alteration are interpreted to be distal vector indicators of a regional mineralization package.

The Glatz Property is the first of six targets to be drilled on the Turtlepond Lake Group of projects. The Turtlepond Lake Group consists of three previously under-explored historic nickel-copper occurrences, (Glatz, Emmons and Prigg), coincident with recently surveyed electromagnetic conductor/magnetic anomalies, and three other newly discovered geophysical targets, North Glatz, Night Danger, and Double E. All targets are clustered within 1.5 km of each other and occur within a few kilometres either side of highway 502.

The exploration program is being carried out under the direction of The Company's Vice President of Exploration, Mr. Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Mr. Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.

About Canadian Arrow Mines:

Canadian Arrow Mines Limited is focused on acquiring and developing nickel sulphide deposits near existing infrastructure. The Company's principal asset is the Kenbridge Project, a nickel-copper sulphide deposit containing over 44,000 tonnes of nickel in the measured & indicated classes, (Sedar, Aug. 19, 2008), as follows:

    <<     -   Measured Resource: 3,546,000 tonnes grading 0.45% nickel, 0.24%         copper, 0.015% cobalt.      -   Indicated Resource: 3,593,000 tonnes grading 0.79% nickel, 0.42%         copper, 0.018% cobalt.     >> 

The deposit remains open in three directions, is equipped with a 620 m shaft and has never been mined.

    <<     * National Instrument 43-101: Mr. E. Puritch, P. Eng., Ms. Tracy         Armstrong, P.Geo., and Antoine Yassa, P.Geo. of P&E Mining         Consultants Inc. are the independent qualified persons for the         Kenbridge resource estimates.     >> 

Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues.

Additional information relating to Canadian Arrow is available on SEDAR at www.sedar.com.

This press release may contain "forward-looking statements" within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume, any obligation to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: visit the website at www.canadianarrowmines.ca, or contact Mr. Kim Tyler, President and Director, toll free, 1-877-262-6354

© Copyright Canada Newswire

Canadian Arrow starts drilling Glatz Nickel Project

cnw


SUDBURY, ON, Nov. 9 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") announces it has begun diamond drilling the first of its high priority Turtlepond area nickel-copper projects located 40 km south of Dryden in northwestern Ontario. Over twelve first-pass holes are planned totaling 2,500 metres of drilling over six priority targets. The Turtlepond Lake Group consists of three previously under-explored historic nickel-copper occurrences, (Glatz, Emmons and Prigg), coincident with recently surveyed electromagnetic conductor/magnetic anomalies, and three other newly discovered geophysical targets, North Glatz, Night Danger, and Double E. All targets are clustered within 1.5 km of each other and occur within a few kilometres either side of highway 502.


The Glatz Property is the first of these targets to be drilled and will consist of four holes for an approximate total of 800 metres of NQ core. Mechanical trenching and ground geophysical surveys on the Glatz showing have delineated two parallel zones of mineralization which extend for 900 m and 700 m in length respectively. Widespread disseminated and blebby nickel-copper-iron sulphide mineralization has been exposed and channel sampled along both trends. Both anomalies are coincident with airborne geophysical anomalies and have not yet been drill tested. An 800m long VTEM anomaly is associated with the Glatz showing and eleven conductive targets have been identified. In 2007 Arrow investigated a series of historical trenches along this geophysical trend with grab sample assay results ranging between trace to 1.28% Ni, and trace to 4.56% Cu. More detail on the Glatz Property can be viewed on the company's website at:


http://www.canadianarrowmines.ca/glatz_property/


The exploration program is being carried out under the direction of The Company's Vice President of Exploration, Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.

Canadian Arrow provides clarification on previous option grant

cnw

SUDBURY, ON, Oct. 23 /CNW/ - Canadian Arrow Mines Limited (the "Company") (CRO-TSX Venture) announced today that the exercise price of its previously disclosed grant of stock options (see press release dated October 6, 2009) has been amended from $0.05 per share to $0.10 per share in order to comply with the rules of the TSX Venture Exchange. All other terms of such options remain as disclosed in the October 6, 2009 press release.

Canadian Arrow prepares to drill nickel projects

cnw

SUDBURY, ON, Oct. 5 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") having recently completed a $1.83M financing is pleased to provide an update on the exploration programs planned on its nickel-copper properties located in northwestern Ontario.


"Over $1.5M is to be expended on resumption of our exploration activities," comments Company President Kim Tyler. "First pass drilling programs are prepared to evaluate the six highest priority targets on our regional projects in addition to drilling proposed on the open extensions of our flag-ship Kenbridge nickel/copper deposit."


The initial focus will be on the Turtlepond Lake group of projects located about 40 km south of Dryden, Ontario and 70 km east of Kenbridge. The Turtlepond Lake Group consists of three previously under-explored historic nickel-copper occurrences, (Glatz, Emmons and Prigg), coincident with recently surveyed electromagnetic conductor/magnetic anomalies, and three other newly discovered geophysical targets, North Glatz, Night Danger, and Double E. All targets are clustered within 1.5 km of each other. A map detailing the Turtlepond projects can be viewed on the Company's website at:


http://www.canadianarrowmines.ca/turtlepond_lake_projects/.

- This company has connections to very well funded mining operations through decades of experience. I believe Mr. Tyler when he says they are speaking with 5 strategic partners for completion of there project through joint ventures. Joint venture speculation could drive our sp into a frenzy.

- The drill program which comprised our 253 million dollar property is open at depth and further drilling could significantly increase the resource. Some of our strongest results were on outer edges of the drill zone. De-watering of the 2500 meter mine shaft will allow them to get at these areas. The intersection I speak of is the 7% nickel over 5 meters that intersection comes from the end of the drill core. Further exploration could offer up amazing results. 0 summer 2008 drill results out, any significant finds in mine ready atikocan or kenora/dryden properties will lift stock.

- The company has contractual agreements with Opiwica explorations (OPW) on the TSX.V to mill there major gold and copper find with in close proximity of Canadian Arrows Planned site. Mining could begin on both projects in early 2010. This represents earnings and is a good partnership for a company seeking to be the next significant Nickel Copper producer in Canada.

- Canadian Arrow has the ability to produce nickel in its mine at 3.47 per pound nickel. That kind of number is unheard of in comparison to other mines. With production scheduled for early 2010 (around the same time our economy should be significantly rebounding) what if nickel prices return back to 15 dollars per pound? This site will look like a gem to any investor! (plus the property would be worth about 400mil at 15 dollars per pound nickel.

This is just a few of the key points that I believe make this company look attractive. If my predictions are correct we will see a significant rebound to normal multiples over the course of the next couple of months and with any significant news pertaining to my points and our sp and volume will be sent soaring. JV with cash on the books and abilitiy to help put project into production will send our sp back to .50 if not higher! I am Bull on Canadian Arrow mines.

Source

Review This .pdf 12 page report:

http://www.chfir.com/CRO_Valuation/CRO_ValuationReport.pdf

Iteration Energy ITX-T Ready To Run

Place your bets on the future and Natural Gas

ITX-T

Caisse de depot et placement du Quebec

Has accumulated 1 Million Shares at $1.18 Nov 5 2009

You can buy at 1.12

Natural Gas Accumulation = Retirement Early

Time To Accumulate As Fast Money Is Buying Low To Sell Much Higher

Gas has been trending up since hitting a seven year low on Sept 3, 2009. Market drivers are forecasted cold weather, the recovering economy, declines in gas production, and higher oil.

Futures market prices predict the market is now back to its previous long term up trend as each successive future month is priced higher that the previous month. As cold weather and falling production begin to reduce the stockpile of natural gas available to the recovering economy the price for gas could jump significantly by year end.

Indeed many professional investors are moving money into the commodity markets such as natural gas. These speculative investments have already lead to recent price volatility and this well may gain momentum as we move through 2010. Medium term technical indicators such as the 50 day moving average vs current price, or the 20 - 100 Day MACD oscillator and the 50 day parabolic time/price all are showing buy signals. Overall the medium term technical indicators average 75% on the Buy side.

http://www.lacaisse.com/en/lacaisse/Pages/caisse.aspx

Caisse de depot et placement du Quebec

Has accumulated 1 Million Shares at $1.18

ITX-T is a natural gas producer that has bottomed,

Time To Buy ITX-T $1.11

Peter Grandich Talks Gold

The Giants squeaked one out while the Jets didn’t even make it to Turkey Day before basically being put out of their misery. Forty years as a fan and if not for a tremendous blessing to become friends with the best player I believe ever worn the green and white, I would have to say being a Jets fan has taken years off my life. How many more years can a Jet fan endure the phrase, “Wait til’ next year?”

Gold is flying in Asia. Outside of a rather small group of professionals who have remained strong advocates through thick and thin (I would hope I’d be included in that camp with Jim Sinclair, Bill Murphy, GATA and a few others), this move has left both perma-bears, former bulls (who became weak-kneed below and at $1,000 an ounce) and much of the financial media in the “dust.”

My upside target of $1,200 now appears to be within sight before years-end (if it gets to $1,195 I won’t shed a tear).

Many ask why has this occurred? The better question is to ask why did so many miss it?

I’ve compared this move above $1,000 to the U.S. Stock Market breaking above 1,000 in the early 80s. For several decades, the stock market was capped around 1,000. Stocks became so out of favor that “Business Week” magazine wrote a famous front page heading entitled, “Stocks are Dead.” An unknown soothsayer at the time named Robert Prechter Jr. predicted 3,000 on the DJIA. Most thought that was crazy. Well, we all know what happened.

I’m not saying gold is going to $14,000 like the DJIA did, but I do believe there are some commonalities. For starters, the DJIA traded between 700 and 1,000 for quite awhile and when it finally broke out, it ran sharply while most kept saying it had to come back just as sharp. Such has been the case after gold traded between $700 and $1,000. I and some others argued that this set gold up for a run to $1,200-$1,300 when we got and stayed above $1,000. Most have missed it and keep calling (and hoping) it comes back to them.

Another similar factor is that in the early stage of the DJIA run, a few highly respected money guys turned very bullish on equities after years of bearishness and/or near total avoidance of equities. Recently, such well-known “financial” experts like Steve Einhorn, Paul Tudor Jones and John Paulson have become big gold buyers/believers.

And one more common ingredient, equities, went from lack of ownership by the public-at-large to the absolute favorite asset to own. While gold remains hated by the vast majority who sell and report on financial assets, as well as by some perma-bears who will become as unimportant as the Number One perma-bear of the late 1990s, Andy Smith, gold is/has become an asset class to many outside of North America.

There are also several other long-term bullish factors like the fact that Central Banks, who used to only know one way to go when it came to gold – sell, are now buyers. Mine supply continues to be limited and hedging, the once cut-your-nose-to-spite-your-face move by mining companies, is now a dead issue.

Is it too late to buy gold? It’s no longer cheap. But if the craze for equities proved anything for almost 25 years (interrupted by a few sharp corrections and bear markets), it’s that the boat needs to get pretty filled up before it finally sinks of its own weight. The fact that gold is still either hated, ignored or misunderstood by most, especially in the U.S., makes me believe the long-term end is nowhere in sight. Is a correction coming? Absolutely, but not before those perma-bears who have been wrong for seemingly as long as the Jets haven’t been to the Super Bowl, are put out of their misery. Forgive me if I don’t attend their funeral.

We’re about to enter one of the best seasonal periods for equities. This coming week tends to be up for U.S. stocks. I do believe between now and year-end may come the long-awaited time for me to dust off my bear suit. Stay tuned.

Remember, the U.S. Dollar Index needs to at least close above 76.50 before any thought of a dollar bear market rally can become legit. The very fact so many people in recent days are talking about a rally can either make it a self-fulfilling prophecy or actually set us up for another down leg. We live in very interesting times, no?

Source

Pescos Talks Stock

BANKERS PETROLEUM

(T-BNK)

WAVEFRONT TECHNOLOGIES (V-WEE)

AMAZON MINING

(V-AMZ)

VENTANA GOLD CORP

(T-VEN)

Our old favourites and the new ones

It might be a little early for a year end review, but

maybe considering the year we have all gone through, and

the bruises we had, why not?

For much of this year we have focused on a trip we

made to Albania back in February/March and saw first

hand the enormous assets and facilities of Bankers Petro-

leum.

In that enormous valley as far as the eye can see were the

old rigs and derricks of the days that the Russians and

Chinese ran at one time, assets that have been taken over

by Bankers and are introducing new western technology

and we should also point out are cleaning it up.

Abby Badwi, Doug Urch and their team comprise some

of the same team that were so successful at Rally Energy

in Egypt, and appear to be having the same success in

Albania.

Already a five or seven bagger from the depths of the

end of the world of eight or nine months ago, look for lots

of news in the coming weeks such as new production

numbers (well that shouldn't be much of a change) to new

budgets for next year (that should be a big change) and

new resource numbers in a few months .

Many expect that they are sitting on ultimately 6 to 9

billion barrels of heavy oil , but how much of it will be re-

coverable....and will we see a take-out offer in the next 12

months

Wavefront was another story we wrote up many times

and whether its’ revolutionary technology was as good as

expected. Jim Letourneau is a hydro-geologist and editor

of the Big Picture Speculator and had been close to the

company and a big believer of the potential. We wrote up

this story countless times while two mutual funds south of

the border had been big sellers of 15 million shares or so..

Now several companies have the equipment, but after

the stock has been a four bagger it now needs some size-

able contracts to justify its current sizeable market cap.

The easy money has been made.

Encana now has almost 18 months experience with

the new technology so an order of size is expected from

them, it would be the good House-keeping seal of ap-

proval...should it not appear over time, that would not be

good. The next 6 weeks or so are important.

With gold doing so well it's been interesting to see so

many gold stocks from biggie American Barrick to GBG

doing almost nothing!

Blame that on so many gold companies issuing so

many shares that many gold stocks have little leverage

left...

But thanks to Canaccord mining guy Nicholas Camp-

bell Ventana and Keegan have soared and bottom Fish-

ing guy John Kaiser had a great idea with Brett Re-

sources ( and he sure had some great ideas on rare

earths).

As we look forward it is time for new favourites.....

and also while there were huge hits with some resource

companies that survived the debacle of last year it will

probably be tougher to find the new winners, and re-

wards won't be what they were...or maybe they will.

In the oils, Sterling Resources is the top pick of Kevin

Shaw of Wellington West and he has certainly been one

of the top pickers of the past year. His published re-

search on Bankers was probably responsible for it tak-

ing flight and Painted Pony wasn't a bad idea either.

When asked if he could only buy one stock today what it

would be Shaw says Sterling, but there is a long list of

other analysts saying the same thing....after a time of

quiet, SLG now has a lot to do in the North Sea starting

shortly..

For another high reward (we hope ) play in the north

sea that no one has heard of yet, Excite energy will

hopefully do just that as they start drilling in Feb / March

on a large target already drilled 5 times but now looking

at commercial production and little Xel owns 100% of it,

at least so far.

How management raises some money, gets partners,

or sells it and hopefully attracts attention will be inter-

esting to follow because at this point very few know this

story...too bad.

With so many balls in the air, one money manager

suggests in the coming 6 months the story could be a

mere 50% return to a 500% return depending on man-

agement's ability to get things done.

That is a rather wide range , and we should point out

that there is always a chance for things to go terribly

wrong , but an adventure none the less.

Speaking of adventure, our recent trip to Brazil was an eye-opener .The country is booming and I now

know why there is the B in the BRIC countries. A big chunk of the boom in Brazil is due to agriculture,

35% of their economy and they are out to feed the world. As far as the eye can see are coffee plantations,

sugar cane, eucalyptus trees, oranges you name it. And they have the perfect climate for farm-

ing...constant weather and good rains mean that a farmer in brazil might get 2 and a half crops a year

while many in North America will be lucky to get one decent one.

What they lack in Brazil is fertilizer...93% of it has to be imported and because of the constant leeching

of the soils by the rains lots of fertilizer is needed.

If Amazon resources and its’ huge verdete deposit has the answer , this may be the adventure of the

There are plenty of hoops to jump through on this process, including drilling to size resources, to

see if the thermo potash process actually works, and finally real trials on real fields mean for a very inter-

esting year ahead. This was John Kaisers idea originally , and he had some very lofty potential goals for

the stock should it pass all the tests...very lofty. A high risk adventure for the gold bugs.

Investors are "chasing commodities" and there is a risk of new asset bubbles emerging

Nouriel Roubini said investors are "chasing commodities" and there is a risk of new asset bubbles emerging as stock markets and commodity prices surge amid record-low lending rates.

"There is a beginning of a bubble in financial markets," with "asset prices going higher," Mr. Roubini, the New York University professor who predicted the global financial crisis, said in a speech in Lisbon Friday.

Equity markets around the world have surged in recent months, with the MSCI World Index up 25% so far this year and by around 66% since its March 9 low. The price of crude oil has jumped 70% since the beginning of the year to about US$76 a barrel in New York.

Part of the increase in oil prices is "money chasing commodities," Mr. Roubini said. "There is a risk that oil can rise to US$80, US$90 or US$100 because of speculative demand" that doesn't reflect economic fundamentals, he said.

The gains are occurring as Federal Reserve Chairman Ben S. Bernanke says that he plans to keep U.S. borrowing costs low for an "extended period" and the European Central Bank and Bank of England signal that they are in no hurry to increase their main lending rates.

‘Systemic Risk'

Mr. Roubini's view that this is increasing the risk of an asset-price bubble is shared by Bill Gross, who runs the world's largest bond fund at Pacific Investment Management Co. Finance officials in Asia have also flagged such risks, part of a growing concern that the seeds of the next financial crisis may be being laid in Asia in the wake of liquidity injections by the world's central banks.

Liu Mingkang, China's top banking regulator, said Nov. 15 the dollar's decline and the U.S.'s decision to keep interest rates low have caused "huge" speculation in foreign exchange trading and affected global asset prices.

The "systemic risk" of new asset bubbles in global economies and markets is rising, Mr. Gross wrote in his December investment outlook yesterday. "The legitimate question of the day is, ‘Is a 0% funds rate creating the next financial bubble, and if so, will the Fed and other central banks raise rates proactively?'" he wrote.