Alexander needs your help

The Blogger says...

"Cancer has taken my mother and my younger sister and it seems that every family is hit by this dreaded disease.  Take some of those gains in the market in the last 10 weeks and help Cancer be beaten!

Alexander is my nephew, he is proof that Cancer can be beaten. Please make a small pledge to help him reach his goal this year!"

I am a survivor of acute lymphocytic leukemia. I was diagnosed with cancer when I was 2 1/2 and fought for 3 full years. I am now 16 and I have seen the reaches of cancer. It does not target the young or the old, the poor or the rich. It targets so many different people.

It's targeted my friends and family. I've seen it tear people apart leaving them in a state where you feel you could have no hope, but the thing is, as long as people are working and helping to find a cure there will always be hope.

Please pledge me and help make cancer history.

I am walking in this relay for people I love, people I miss, and people who I don't even know. To the people who have inspired me, thank you, now let's make cancer history!

Online pledging is secure and it saves the Society money by reducing administrative costs.

Thanks for your support!

Alexander

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The TSX Today and Pescod Speaks...

This from the Globe:

Bullish investors were hoping that a day like today would roll around soon - a day in which economic data not only exceed expectations, but crush them.

 After a disappointing start on Tuesday following the release of the S&P/Case-Shiller home price index, the Conference Board released its consumer confidence index for May. Economists had expected a small step in the right direction, but what they got was a great leap: The index rose to 54.9 from 39.2.

 With glimpses of a robust consumer in their minds, investors jumped at stocks minutes after the index reading was released. The Dow Jones industrial average closed at 8473.49, up 196.17 points or 2.4 per cent. The broader S&P 500 closed at 910.33, up 23.33 points or 2.6 per cent.

 It was the first gain for U.S. stock market indexes in five trading days and the second biggest upward move since major indexes stalled after hitting a rebound-high on May 8. However, the S&P 500 remains 2 per cent below its May 8 high.

 Of course, improving consumer confidence might translate into more consumer spending, so it should come as no surprise to hear that stocks directly tied to discretionary spending enjoyed some of the biggest gains. American Express Co. rose 5 per cent, Home Depot Inc. rose 4.1 per cent and Walt Disney Co. rose 3.5 per cent.

 Meanwhile, who needs steady performers like Coca-Cola Co.? The defensive stock was one of two stocks in the 30-member Dow to end the day lower, falling 0.2 per cent. (Bank of America Corp. was the other, falling 0.8 per cent, even as JPMorgan Chase & Co. rose 6.2 per cent.)

 In Canada, the S&P/TSX composite index closed at 10,285.90, up 216.4 points or 2.2 per cent.

 Financials were the biggest movers, after Bank of Montreal reported second quarter results that topped analysts' expectations after certain one-time items were excluded. BMO rose 5.2 per cent, Toronto-Dominion Bank rose 6 per cent and Bank of Nova Scotia rose 5.5 per cent.

 Research In Motion Ltd. was also a big mover, rising 5 per cent.

 Commodity producers were mixed. Suncor Energy Inc. rose 2.7 per cent and EnCana Corp. rose 1.5 per cent, but Canadian Oil Sands Trust fell 1.3 per cent after the price of crude oil rose to $62.45 (U.S.) a barrel, up 78 cents. As well, Barrick Gold Corp. fell 3.7 per cent after the price of gold fell to $953.30 an ounce, down $5.60.

Copyright 2001 The Globe and Mail

Merger Cro and Ursa Major Minerals Pending

Ursa Major, Canadian Arrow explore merger


00:00 EDT Tuesday, May 26, 2009

Canadian Arrow Mines Ltd. CRO-X and Ursa Major Minerals Inc. UMJ-T are considering a strategic merger that would lead to the creation of a mid-tier nickel producer in Ontario. The companies said yesterday they envision an equity swap that would have Ursa Major buy Canadian Arrow. The combined company's board would have three members nominated by Ursa Major and two by Canadian Arrow. Representatives of the two companies would also hold senior management positions. Ursa chief executive Richard Sutcliffe would be chairman of the board and CEO of the combined company while Canadian Arrow president Kim Tyler would be president and chief operating officer. The combined company would have reserves and resources containing an estimated 200 million pounds of nickel, plus significant copper and precious metal byproducts. Ursa Major shares haven't traded since May 21, when they closed at 14 cents on the Toronto Stock Exchange. CRO (TSXV) rose 1¢ to 7¢.

- 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

Rosenberg sees bright future for Canadian markets

David Rosenberg has not had much occasion to put on his "optimistic hat" of late, but now that he is back home in his native land, he sees a bright road ahead for Canada's equity markets.

Mr. Rosenberg, who for nearly a decade sang the siren song of doom on Wall Street as chief North American economist of Merrill Lynch, says Canada is well positioned to benefit from both Washington's extravagant intervention into its wounded financial and economic system and the resumption in the secular commodity bull market.

"There is an old saying that in the land of the blind, the one-eyed man is king and Canada is going to be looking like the one-eyed man," he said. "When you look at the future and global investors looking to allocate capital toward the U.S. and Canada, Canada is going to come out ahead."

Two weeks after starting his new role as chief economist and strategist at Gluskin Sheff & Associates, the Toronto-based wealth management firm, Mr. Rosenberg remains particularly skeptical about the near term prospects for both North American equity markets and the economy.

While he thinks a very large chunk of the credit shock is behind us, he said we have yet to work through widespread housing deflation and falling employment. Realistically, Mr. Rosenberg believes it could take years to make the transition to the next economic cycle and notes markets, which have risen almost 40% over the past two months largely on the proposition the economy is in recovery, could easily fall back to new lows in the coming weeks.

What has become more evident to Mr. Rosenberg as the current downturn progresses is the growing advantage that Canada appears to have gained over its neighbour to the south. At the heart of this advantage is the change in the economic world order.

"I think the U.S. is now in the sunset of its economic hegemony and the economic power is shifting towards Asia and China," he said.

In addition to a diminishing share of the global pie, Mr. Rosenberg is troubled by the massive incursion by the U.S. government into its economy via TARP, near-zero interest rates and other stimulus efforts. He also sees a much more regulated capital market in the United States going forward and predicts a loonie above par with the greenback and higher top marginal U.S. tax rate.

"We just do not have the structural fiscal deficit that the U.S. has right now," he said.

"They have a fiscal mess to clean up. If you look at their tax rates globally, there are still relatively low. The tax gap between Canada and the U.S. is going to grow inexorably over the course of the next decade in our favour."

Mr. Rosenberg added that the power shift away from the United States and towards Asia is likely secular and not cyclical in nature, noting Asia went through its recession and restructuring a decade ago. Given China's dependence on raw materials, he believes the commodity space is ripe for a sustained rebound, to which Canada will be a primary beneficiary.

"We are a huge net raw material exporter and the China is a huge net importer of raw materials. If the Asia story proves to be a secular story that plays well into our balance of payments and importantly for our equity markets," he said.

"Remember just because the economy is hitched to the U.S. it doesn't mean our markets are. In fact they are much more sensitive to what is happening in Asia because about 50% of our stock market is based on materials. And that's where we come out ahead."