Monday, December 28, 2009

Markets rise amid jump in U.S. retail sales

NEW YORK–U.S. stock futures crept higher Monday as investors returning from a long holiday weekend were heartened by good news on retail sales.

Overseas markets were also higher. The dollar weakened against other currencies, giving commodities prices a boost. Bond prices fell.

The TSX in Toronto was closed for the statutory holiday.

Data released Monday showed shoppers opened their wallets more this season, a good sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 per cent from Nov. 1 through Dec. 24, compared with a 2.3 per cent drop a year ago. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 per cent gain.

Consumer spending is one of the biggest drivers of economic growth and is vital to a sustained recovery.

Investors will also be keeping a close eye on airline stocks after a failed attack on a Northwest flight on Christmas Day. Another incident on the same flight to Detroit from Amsterdam on Sunday raised further alarm.

Shares of Delta Air Lines Inc., which owns Northwest, slipped 14 cents to $11.63 (U.S.) in premarket trading. UAL Corp., which operates United Airlines, fell 39 cents, or 3 per cent, to $12.70.

Stocks are currently at their highest levels of the year, and in the absence of any bad news, analysts say the market is likely to drift higher during the final days of 2009. Trading volume has been extremely light due to the holidays, which can exaggerate price swings. Markets were closed on Friday for Christmas and will be closed again this Friday for New Year's Day.

Ahead of the market's open, Dow Jones industrial average futures rose 9, or 0.1 per cent, to 10,475. Standard&Poor's 500 index futures gained 2.40, or 0.2 per cent, to 1,124.40, and Nasdaq 100 index futures rose 4.0, or 0.2 per cent, to 1,872.

Overseas, Japan's Nikkei stock average rose 1.3 per cent to its highest close since late August, boosted by encouraging news on factory production. In afternoon trading, Germany's DAX index rose 0.7 per cent, while France's CAC-40 rose 0.8 per cent. Britain's FTSE 100 was closed for a holiday.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.83 per cent from 3.80 per cent Thursday.

Commodities prices rose as the dollar fell. Commodities are priced in U.S. dollars, so when the greenback is weak they become more attractive to foreign buyers.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, slipped 0.2 per cent. Oil prices gained 45 cents to $78.50 a barrel in electronic premarket trading on the New York Mercantile Exchange. Gold prices also rose.

Major stock indexes ended a holiday-shortened session Thursday at new 2009 highs following upbeat reports on unemployment and durable goods orders. This week, readings on home prices and consumer confidence are among the few economic reports expected.

Stocks have managed to grind higher this month despite lingering concerns about the economic recovery. But the gains have been more subdued than in recent months as investors have held back on taking risks heading into the end of the year. The Standard&Poor's 500 index is up 66.5 per cent since hitting 12-year lows in March.

Thursday, December 24, 2009

Canasia Commences Bulk Sample Operations on Clone Gold Discovery

December 23, 2009


Canasia Commences Bulk Sample Operations on Clone Gold Discovery
Canasia Industries Corporation ("CAJ") wishes to announce that it has been notified by its partner that the application has been completed for an initial bulk sample operation on the Clone Gold Prospect. The Clone Gold Prospect in Stewart BC, recently returned grades as high as 44.75 g/t over 12.8 metres (announced October 22, 2009). Approximately ten tons of samples have been gathered to date and were shipped for processing.

Negar Towfigh, President of Canasia stated, "The results for the 2009 drill program on the Clone were the best that Canasia has drilled to date and the drilling was near surface. This initial bulk sample may assist Canasia in further defining the size of the potential deposit and it may also aid in possibly generating initial revenue from the Clone Prospect. Canasia plans to conduct a larger drill program in 2010 on the Clone Prospect, than it did in 2009, due to the results achieved this past drill season. We are continuing operations on the Clone and we also anticipate being active on multiple other prospects in early 2010.

If you would like to be added to Canasia's news distribution list, please send your email address to info@canasiaind.com

Canasia Industries has a well diversified portfolio of prospects. Canasia's current prospects include the following: (a) The Clone Gold prospect in Stewart, BC, that has recently returned grades as high as 44.75 g/t Ag over 12.80 metres (announced October 22,2009); (b) The Debut Gold prospect in NE Nevada where Kinross Gold is now actively drilling; (c) 55,300 contiguous acres at Reed Lake, Manitoba; (d) 450,000 contiguous acres of Potash claims, bordering Alberta and Saskatchewan; (e) 130,500 acres prospective for Coal in SE Saskatchewan; (f) 180,000 acres prospective for Lithium in Alberta; (g) and three mineral claims covering an area of approximately 31,602 hectares, located north and northwest of the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan Mexico.

Contact Information
Tel: 1 (877) 225-6755
Fax: 1(604) 689-1733
www.canasiaind.com
info@canasiaind.com

Pescod Picks:Bankers and Asia Mining = The Home Run For 2009


Tuesday, December 22, 2009

EAST ASIA MINERALS (V-EAS)


EAST ASIA MINERALS (V-EAS)
Once upon a time, particularly way back when East Asia
Minerals was just yours for a couple of quarters, the Coffin
Brothers were about the only people out there that had
heard of East Asia and was following their story. Now, sud-
denly analysts are starting to take a look at this story as its
size is getting to a point where it can’t be ignored.
So what are the Coffin Brothers saying now? Well, this is
from Sunday’s Hard Rock Analyst…“Drill hole EDM014 test-
ing further north and uphill from most past drilling that re-
turned 101 metres of 1.38 g/t gold that included 58 m of 1.95
g/t. This is in keeping with the established pattern, but con-
firming the breadth of the system is still important. More
speculative but potentially much more interesting was a sec-
ond release indicating that surface sampling in the Moon
River area has returned significant gold values of up to 1.76
g/t. This is the area north and on the other side of the hill
from the main Miwah zone, and appears to be its extension.
This sampling would at least double the scale of the main
Miwah mineralization, and given gold grade runs to within
100 metres of the intervening peak this could be treated as a
single large deposit with a small cap of waste rock. Drilling
is needed to properly assess the Moon River results, but
since the project already has starter zone material outlined
the Moon Rivers extension needs only viable grade to be
accretive. Since geophysics indicates that in the system
may continue all the way to the Sipokok showings a further
1.5 km to the north, it is possible that Miwah may go from
the “big” to the truly “world class” scale that would garner
interest from all of the gold majors…”

COXE COMMODITY FUND
Don Coxe’s Commodity Fund is still significantly dis-
counted to where it was issued some time ago, but the
popular commentator is certainly doing a lot better than six
to eight months ago...like a lot of things.
His latest comments from the December, 2009 Basic
Points he makes the following observations: 1) Remain
underweighted in US equities. 2) Overweight Emerging
Markets such as China, Hong Kong, Brazil, India and Ko-
rea. 3) Remain overweight commodity stocks. 4) Empha-
size gold stocks in commodity stock accounts. 5) Con-
tinue to overweight the agriculture stock. 6) Maintain ex-
posure to energy stocks, but continue to emphasize oil
producers and to de-emphasize natural gas producers.
He writes, “Cash isn’t a true risk reducer, because it
delivers no yield and cannot rise if there’s a new panic. If
you must own something that pays you nothing, buy gold.”
His last point, “Canada offers better government, better
governance, a better currency and a better stock market
than the USA. Buy Canadian.” Interesting...


Monday, December 21, 2009

AN UPDATE WITH JOE MARTIN CAMBRIDGE HOUSE MINING COFERENCES


(As of December 18, 2009)
We used to have a lot of fun with Joe Martin because the
guy who runs the Cambridge House mining shows across
the country in places like Toronto, Montreal, Vancouver
plus down in the states as well – with his contacts with all
the best mining people, best analysts, you-name-it – we’ve
had fun with him over the year because when he picked a
stock, it never seemed to perform. Lately however, things
have changed as all of a sudden Joe has been picking
stocks that have doubled, tripled and even better. So we
have to find out what the heck is going on!
David Pescod: Joe, you are just back from a trip down
south, can you tell us a bit about it?
Joe Martin: We went down late October/early November to
Guyana and we had a look at Sandspring Resources property,
it’s been an old alluvial mining gold area there for some
years, but they have been doing a lot of drilling there and
they have proven up an ore body. We were delighted to
buy into the deal and I think it started trading about 2 ½
weeks ago at $0.30, and I believe it is up over $1.00 right
D.P: Now you’ve got big expectations because this is the
stock you are currently picking for the next year I under-
J.M: The principals who are behind it, I am very impressed
with their mining background. John Adams who made a
career with uranium mines in Wyoming is behind it. The
guy heading it is Abraham Drost out of Thunder Bay. They
have a great line up of talent there and I understand there
are more things coming. I understand there are lots of peo-
ple looking at the project and I believe the concept of this
project is not to get into mining, but to prove up the ore
body and sell it off to a large company.
D.P: There is lots of speculation about just how many
ounces they might have. What would you feel safe talking
about at this point?

J.M: Around four or five million ounces.
D.P: Wow! So you are not being shy about this at all! Are
you saying this is another Martin pick that will be a double
or triple?
J.M: Yes it is.
D.P: We’ve been through cycles before and you’ve seen
more cycles than most people. Lots of people talking
about gold these days, people who never would have
talked about it before. We are wondering if this isn’t just
another bubble like high-tech, real estate, oil or whatever
we’ve gone through in the last decade. How long can you
see gold going and how high?
J.M: I am not an analyst or anything David, what I see is
the return of a number of companies that are financing
and participating in our conferences.
Our business
dropped about 55% from 2008 into 2009, but we are seeing
a turn around right here as we go into 2010. We are pretty
much sold out for our January conference. I see a lot of
financings and really, really good bargains. The other
thing I am seeing is the juniors are quick to step in wher-
ever there is a void and the rare earth metals are certainly
hot right now. I think gold has gone beyond being a sup-
ply/demand situation. It’s gone into its own currency level
now.
D.P: Just how high can you see gold going. But once
again, we want to corner you with the question – is this
something that will last six months, 12 months, or does it
go for two or three years?
J.M: I think the gold play is here for several years. Gold,
silver and precious metals and I wouldn’t predict a price,
but sure, I follow Jim Rogers as it will hit $2000 an ounce
sometime. Maybe not next year, but probably the year
after. I just don’t see it dropping right now.
D.P: A lot of people know about the Cambridge House
shows, but for those that have never followed junior min-
ing stories before, you next show in Vancouver is having
a bit of a problem because of the Olympics games and all
that. You are now set up in an interesting way…can you
explain?
J.M: Yes, we cannot get the Convention Center. We have
first right of refusal on those times except from the owner,
which is the Government of BC. I believe last September
they have shut the Convention Center down to be ready
for the Olympics. So we are using the Fairmont Hotel
(Vancouver) and the Hyatt Regency and we are going to
have people walk back and forth between the two hotels.

Leaders TSX TSX-v And Nasdaq

VOLUME LEADERS
Symbol Name Last Trade Change Volume Related Info
XIU.TO ISHARES CDN S&P/TSX 60 IDX F 17.21 2:59PM EST Up 0.04 (0.23%) 10,065,312 More
HTE-UN.TO HARVEST ENERGY TR TRUST UNITS 9.99 2:58PM EST Up 0.05 (0.50%) 4,239,906 Reports, More
ELD.TO ELDORADO GOLD CORP COM NPV 14.24 3:00PM EST Down 0.09 (0.63%) 4,147,162 Reports, More
HNU.TO HORIZONS BETAPRO NYMEX 12.31 2:58PM EST Down 0.59 (4.57%) 3,902,028 More
HND.TO HORIZONS BETAPRO NYMEX 4.93 2:54PM EST Up 0.22 (4.67%) 3,900,707 Reports, More
YRI.TO YAMANA GOLD INC COM NPV 11.90 2:59PM EST Down 0.39 (3.17%) 3,607,706 Reports, More
MFC.TO MANULIFE FINL CORP COM NPV 18.90 2:59PM EST Up 0.15 (0.80%) 3,022,681 Reports, More
HOU.TO HORIZONS NYMEX Crude Oil Bull P 8.07 2:59PM EST Down 0.12 (1.47%) 2,826,715 More
HBM.TO HUDBAY MINERALS IN COM NPV 12.47 3:00PM EST Down 0.36 (2.81%) 2,626,103 Reports, More
HGU.TO HORIZONS BETAPRO S UNITS CLASS 11.96 2:58PM EST Down 0.56 (4.47%) 2,576,554 More
RCI-B.TO ROGERS COMMUNICATIONS INC. CL B 31.89 2:59PM EST Up 0.70 (2.24%) 2,572,615 Reports, More
ABX.TO BARRICK GOLD CORP COM NPV 41.11 2:59PM EST Down 0.39 (0.94%) 2,408,648 Reports, More
SU.TO Suncor Energy 35.85 3:00PM EST Up 0.10 (0.28%) 2,397,296 Reports, More
G.TO GOLDCORP INC COM NPV 40.51 3:00PM EST Up 0.49 (1.22%) 2,308,192 Reports, More
RY.TO ROYAL BANK OF CANADA COM NPV 55.61 3:00PM EST Up 0.80 (1.46%) 2,287,367 Reports, More
K.TO KINROSS GOLD CORP 19.00 3:00PM EST Down 0.17 (0.89%) 2,237,148 Reports, More
HGD.TO HORIZONS BETA PRO S&P/TSX BEAR 4.76 3:00PM EST Up 0.21 (4.62%) 2,083,328 More
EBR.TO EMBER RESOURCES IN COM NPV 0.85 2:12PM EST 0.00 (0.00%) 2,073,311 Reports, More
BBD-B.TO BOMBARDIER INC CLASS'B'S/VTG NP 4.79 2:59PM EST Up 0.03 (0.63%) 2,016,459 Reports, More
TCK-B.TO TECK COMINCO LIMITED CL B SV 39.71 3:00PM EST Up 0.90 (2.32%) 1,997,770 Reports, More
SLW.TO SILVER WHEATON COR COM NPV 15.77 2:57PM EST Down 0.42 (2.59%) 1,948,005 Reports, More
GSC.TO GOLDEN STAR RES COM NPV 3.22 3:00PM EST Down 0.19 (5.57%) 1,914,866 Reports, More
UUU.TO Uranium One Inc 2.99 3:00PM EST Up 0.11 (3.82%) 1,909,503 Reports, More
GBU.TO GABRIEL RESOURCES COM NPV 4.31 3:00PM EST Down 0.14 (3.15%) 1,843,444 Reports, More
WTN.TO WESTERN COAL CORP 3.15 2:59PM EST Down 0.06 (1.87%) 1,819,668 Reports, More



VOLUME LEADERS
Symbol Name Last Trade Change Volume Related Info
MDG.V MEDICAGO INC. (Tier2) 0.67 2:57PM EST Down 0.11 (14.10%) 3,480,052 Reports, More
AVT.V AVANTI MINING INC (Tier1) 0.19 12:55PM EST Down 0.02 (9.52%) 3,305,500 Reports, More
MMT.V MART RESOURCES INC. (Tier2) 0.105 11:39AM EST Down 0.005 (4.55%) 3,202,600 Reports, More
EXS.V EXPLOR RESOURCES INC. (Tier2) 0.95 2:57PM EST Up 0.11 (13.10%) 2,983,015 Reports, More
GLW.V GOLD WHEATON GOLD CORP (Tier1) 0.355 2:58PM EST Up 0.005 (1.43%) 2,179,424 More
ALE.V ALANGE ENERGY CORP (Tier2) 0.56 2:55PM EST Up 0.03 (5.66%) 2,105,940 Reports, More
AVR.V AVION GOLD CORPORATION (Tier2) 0.485 2:38PM EST Up 0.005 (1.04%) 1,779,200 Reports, More
SMI.V SATURN MINERALS INC. (Tier2) 0.145 2:30PM EST Down 0.015 (9.38%) 1,740,886 Reports, More
RTE.V RESULT ENERGY INC. (Tier1) 0.42 2:46PM EST Down 0.04 (8.70%) 1,740,718 Reports, More
CLQ.V CANADA LITHIUM CORP (Tier2) 0.43 2:55PM EST Up 0.03 (7.50%) 1,698,713 Reports, More
TIC.V TITANIUM CORPORATION INC. (Tier 0.59 1:28PM EST Up 0.04 (7.27%) 1,620,233 Reports, More
OCP-H.V OCEAN PARK VENTURES CORP 0.64 1:58PM EST Up 0.29 (82.86%) 1,526,606 More
TRX.V TERRANE METALS CORP (Tier1) 1.57 2:59PM EST Down 0.15 (8.72%) 1,438,045 Reports, More
CMM.V CENTURY MINING CORPORATION (Tie 0.355 2:54PM EST Up 0.01 (2.90%) 1,429,347 Reports, More
AEX.V APPLETON EXPLORATION INC (Tier2 0.205 2:51PM EST Down 0.02 (8.89%) 1,237,600 More
SDP.V SVIT GOLD CORP (Tier2) 0.20 2:57PM EST Up 0.025 (14.29%) 1,190,000 More
R.V ROMARCO MINERALS INC. (Tier2) 1.34 2:54PM EST Up 0.20 (17.54%) 1,167,411 Reports, More
MAT.V MATAMEC EXPLORATIONS INC. (Tier 0.185 2:45PM EST Down 0.005 (2.63%) 1,127,650 Reports, More
SGR.V SAN GOLD CORPORATION (Tier1) 3.34 2:54PM EST Up 0.04 (1.21%) 1,050,208 Reports, More
GNH.V GOLDEN HOPE MINES LIMITED (Tier 0.20 2:48PM EST Up 0.03 (17.65%) 940,600 Reports, More
MRS.V MEDORO RESOURCES LTD (Tier1) 0.47 1:40PM EST Down 0.025 (5.05%) 931,816 Reports, More
NGG.V NEW GUINEA GOLD CORPORATION (Ti 0.11 2:25PM EST Down 0.01 (8.33%) 866,500 Reports, More
DRV.V DURAN VENTURES INC. (Tier2) 0.145 1:12PM EST Down 0.005 (3.33%) 866,140 Reports, More
CNE.V CANACOL ENERGY LTD (Tier1) 0.53 2:28PM EST 0.00 (0.00%) 841,896 Reports, More
PTA.V PETROAMERICA OIL CORP (Tier2) 0.59 2:37PM EST Down 0.01 (1.67%) 823,290 Reports, More

NASDAQ VOLUME LEADERS
Symbol Name Last Trade Change Volume Related Info
QQQQ PowerShares Exchange-Traded Fun 45.04 2:58PM EST Up 0.58 (1.30%) 60,169,724 Profile, Reports, More
INTC Intel Corporation 20.10 2:59PM EST Up 0.47 (2.39%) 45,057,855 Profile, Reports, More
ETFC E*TRADE Financial Corporation 1.74 2:59PM EST Down 0.04 (2.25%) 38,483,090 Profile, Reports, More
MSFT Microsoft Corporation 30.6127 2:59PM EST Up 0.2527 (0.83%) 31,137,302 Profile, Reports, More
CSCO Cisco Systems, Inc. 23.67 2:59PM EST Up 0.34 (1.46%) 29,589,645 Profile, Reports, More
DELL Dell Inc. 14.17 2:59PM EST Up 0.43 (3.13%) 22,826,370 Profile, Reports, More
ORCL Oracle Corporation 24.435 2:59PM EST Up 0.095 (0.39%) 20,637,630 Profile, Reports, More
AAPL Apple Inc. 198.866 2:59PM EST Up 3.436 (1.76%) 19,249,306 Profile, Reports, More
RIMM Research In Motion Limited 69.65 2:59PM EST Down 0.35 (0.50%) 17,187,467 Reports, More
NWSA News Corporation 13.78 2:59PM EST Up 0.43 (3.22%) 14,495,866 Profile, Reports, More
PALM Palm, Inc. 10.66 2:59PM EST Up 0.49 (4.82%) 13,895,947 Profile, Reports, More
YHOO Yahoo! Inc. 15.895 2:59PM EST Down 0.245 (1.52%) 12,621,745 Profile, Reports, More
JASO JA Solar Holdings, Co., Ltd. 6.2099 2:59PM EST Up 0.4799 (8.38%) 12,341,721 Profile, Reports, More
JAVA Sun Microsystems, Inc. 9.35 2:58PM EST Up 0.02 (0.21%) 10,811,546 Profile, Reports, More
FITB Fifth Third Bancorp 10.11 2:59PM EST Up 0.29 (2.95%) 10,675,102 Profile, Reports, More
SNDK SanDisk Corporation 26.72 2:58PM EST Up 1.64 (6.54%) 10,481,481 Profile, Reports, More
LVLT Level 3 Communications, Inc. 1.45 2:58PM EST Down 0.02 (1.36%) 9,551,270 Profile, Reports, More
CHTT Chattem, Inc. 93.09 2:59PM EST Up 23.11 (33.02%) 9,392,346 Profile, Reports, More
DRYS DryShips Inc. 6.00 2:59PM EST Down 0.02 (0.33%) 9,337,235 Profile, Reports, More
QCOM QUALCOMM Incorporated 45.53 2:58PM EST Up 0.96 (2.15%) 8,968,764 Profile, Reports, More
CTIC Cell Therapeutics, Inc. 1.17 2:58PM EST Up 0.03 (2.63%) 8,948,754 Profile, Reports, More
AMAT Applied Materials, Inc. 13.845 2:59PM EST Up 0.225 (1.65%) 8,802,331 Profile, Reports, More
SBUX Starbucks Corporation 23.105 2:59PM EST Down 0.575 (2.43%) 8,613,188 Profile, Reports, More
CMCSK Comcast Corporation 16.60 2:59PM EST Up 0.11 (0.67%) 8,026,175 Reports, More
NVDA NVIDIA Corporation 17.42 2:59PM EST Up 0.60 (3.57%) 7,931,033 Profile, Reports, More

Search The Web