Weekly Update Canadian Companies mentioned include:
Webtech Wireless Inc. (TSX:WEW) Lithium One Inc. (TSX-Venture:LI) MagIndustries Corp. (TSX:MAA) Smartcool Systems Inc. (TSX-Venture:SSC) Duran Ventures Inc. (TSX-Venture:DRV) U.S. Companies mentioned include:
Trident Microsystems Inc. (NASDAQ:TRID) Opnext (NASDAQ:OPXT) China 3C Group (OTCBB:CHCG) Unigene Laboratories Inc. (OTCBB:UGNE) Follow AllPennyStocks.com on Twitter: Click here to join AllPennyStocks.com on Twitter. Find out about the penny stocks to watch before anyone else, only on Twitter. Following AllPennyStocks.com is free, get all the details here.
WEEKLY UPDATE - Commodities Drag Down Canadian Markets, Dow At Highest Peak Of The Year
As the economic outlook got marginally brighter, markets reflected guarded optimism for the most part, with blue-chips in the United States reaching a new high for 2009.
The S&P/TSX Composite Index endured several downward sessions throughout the week, one that ended mercifully on December 11 at 11,423.93, a drop of 86.87 points over the previous Friday. The TSX Venture Exchange slumped 33.35 points to 1,417.11, down 2.3% on the week.
South of the border, the Dow Jones Industrials peaked for the year at 10,417.50 Friday, a gain of 82.6 points.
It was a different story with the much broader S&P 500 index, which finished the week half a point better than last at 1,106.41, while the NASDAQ index closed at 2,190.31, off 4.04 points on the week.
Economically speaking, Statistics Canada reported Monday that the value of building permits jumped 18.0% to $6.1 billion in October from $5.2 billion in September. Economists had been expecting a much more modest increase in the value of permits of about 1.1%.
Thursday, Statistics Canada reported an unexpected trade surplus of $428 million in October, compared to a deficit of $850 million in the prior month. Exports were up 3.4%.
Also Thursday, it was reported that the number of Americans filing first-time claims for state jobless benefits rose to 474,000 in the week ended Dec. 5. That's up 17,000 from the prior week. Jobless claims were expected to have declined by 2,000 last week to 455,000, according to analysts surveyed by Briefing.com.
In other news, the Commerce Department reported that the U.S's trade gap narrowed in October to $32.9 billion U.S. from a revised $35.7 billion U.S. in September, thanks to a jump in exports. Economists thought it would widen to $36.8 billion U.S., on average.
The coming week’s economic calendar is a crowded one, with new motor vehicle sales and leading indicators on Tuesday, manufacturing figures on Wednesday, inflation and international securities numbers on Thursday, and wholesale trade on Friday. And that’s just for Canada.
Stateside, industrial production numbers are released Tuesday, along with wholesale inflation (with the Producer Price Index). Housing starts and Consumer Price inflation come out Wednesday, leading indicators are released Thursday.
Over the week, it was quite the journey for technology up-and-comer Webtech Wireless Inc. (TSX:WEW), which began the week at 72 cents, spent the next three days trying to find upward mobility, jumped five cents on Thursday to 77 cents, then sprinted ahead Friday to 86 cents, for a weekly surge of 14 cents or 19.4%.
Compatriot Lithium One Inc. (TSX-Venture:LI), a metals and mining concern, however, went in the opposite direction, going into the week at 82 cents, suffering a loss of a nickel on Monday, another three cents the day after, taking on another penny on Thursday, only to lose it on Friday to end the week at 74 cents, down eight cents or 9.8% on the week.
South of the border, electronics firm Trident Microsystems Inc. (Nasdaq:TRID) shot ahead nine cents from its original $1.86 to $1.95 on Monday, added two cents to that total on Wednesday, only to see those gains collapse on Thursday and Friday, to end the week at $1.85, down by a penny or 0.5%. Electronics rival Opnext (Nasdaq:OPXT) enjoyed a seven-cent gain on Monday to $1.94, tacked on another 12 cents on Tuesday, then tailed off to end the week at $1.96, still up nine cents, or 4.8%.
If one had invested in all four of these stocks, you would have seen an average weekly gain of 3.5%. But if you picked off the weekly tops for these stocks, that weekly gain would have been 10.9%.
Next week – the last full one before Santa’s arrival – we focus on metals and mining whiz MagIndustries Corp. (TSX:MAA) and electronics maker Smartcool Systems Inc. (TSX-Venture:SSC), while in the States, we look at technology up-and-comer China 3C Group (OTCBB:CHCG) and drug firm Unigene Laboratories Inc. (OTCBB:UGNE).
Lastly, one of our previously spotlighted Companies, Duran Ventures Inc. (TSX-Venture:DRV) was in the news this week. The Company announced that they have initiated exploration work on their Double Jack properties, as described in their news release on September 1st, 2009. Duran will focus initial work on the Panteria Porphyry Copper prospect in Huancavelica, Peru. It looks like a corporate update was exactly what investors were looking for from the Company, as shares in DRV started trekking upward after a substantial downtrend that started in the second week of November. AllPennyStocks.com spotlighted DRV back in early November, and right out of the gate the stock rose over 30% but has since pulled back to its original spotlight price of $0.165.
With this week’s news, the bulls seemed to have been re-ignited and the technical outlook for DRV’s stock is looking quite good again. Commodity prices have been on their way down over the last two weeks, so a correction in DRV’s stock price, seemed understandable. With commodity prices looking like they have reached their short term bottom, gold bugs could be gearing up for a Santa Clause rally. As for DRV’s stock chart, all the technical indicators that we use are starting to point upward and it looks as though a MACD bullish cross-over could occur this upcoming week.
As we always remind our investors, these are merely our interpretations of DRV’s stock chart and we encourage all our investors to conduct their own due diligence and consult with a financial advisor before making any trading decisions.
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.
Disclaimer AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. This is an advertisement for the above mentioned companies. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SMALL CAP SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK.
We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission (SEC) at: http://www.sec.gov and/or the National Association of Securities Dealers (NASD) at: http://www.nasd.com. Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.
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