Roger Biduk; Six in a Row for Bay Street

Roger Biduk writes;

The strong start to 2009 trading continued Tuesday as financials and commodity stocks led the way to a positive close for a sixth consecutive session.
Toronto's S&P/TSX composite index finished the day up 186.58 points or two per cent to 9,472.09. All sectors were higher save for the consumer and telecom groups.
The CDN$ moved up 0.52 cent to 84.55 cents US after higher oil helped boost the loonie up about one and three-quarters cents Monday.
The TSX Venture Exchange climbed 38.62 points to 913.11.

The Toronto market is up about five per cent so far this year, as investors hope that a bottom is within sight and the second half of the year will see a lessening of pressure on global economies.

The TSX energy sector has been a star performer, up more than 11 per cent since Dec. 31, including a 1.25 per cent rise Tuesday.
Crude oil has surged 25 per cent in the past week amid signs OPEC is implementing production cuts and Israel's offensive in Gaza keeps tensions high in the Middle East.
The February crude contract on the New York Mercantile Exchange backed off after rising as high as US$50.47 and closed down 23 cents at US$48.58.
TSX energy sector winners included Suncor Energy Inc. (TSX:SU) ahead $1.62 to $29.02. But sector leader EnCana Corp. (TSX:ECA) lost early momentum to move down $1.56 to $60.86. Talisman Energy (TLM.TO) up 2.89% to $13.53. Tethys Petroleum (TPL) soared 45.45% to $.80. Fairborne Energy trust (FEL.TO) jumped 6.92% to $7.11. Provident Energy Trust (PVE.TO) higher by 6.81 % to $6.43. Orleans Energy (OEX.TO) soaring 20.51% to $2.35.

Roger Biduk writes:
The financial sector was 3.45 per cent higher with Bank of Montreal (TSX:BMO) ahead $2.13 to $34.66. Shares in Royal Bank of Canada (TSX:RY) climbed 83 cents to $38.04 after it said it is issuing $200 million worth of preferred shares paying 6.25 per cent. Fairfax Financial Holdings Limited (TSX:FFH) shares added $20.86 to $383.89 after it raised its annual dividend to US$8 per share from $5.
Financial gainers included Manulife Financial (MFC.TO) jumping 6.02% to $24.11. CIBC (CM) up 5.09% to $55.11. Brookfield Asset Mgmt. (BAM.A.TO) soaring 8.41% to $21.01. Canadian Western Bank (CWB.TO) higher by 7.02% to $13.98. National Bank (NA.TO) up 5.75% to $34.00.
Financial losers included Horizons BetaPro S&P TSX Capped Financials Bear Plus ETF (HFD.TO) tanked 6.80% to $28.90. Sprott (SII) dropped 5.39% to $4.21.

The base-metals sector ran ahead 10 per cent as the March copper contract in New York rose 8.3 per cent to US$1.58 a pound. Sherritt International (TSX:S) was ahead 46 cents to $4.45 and FNX Mining (TSX:FNX) up 79 cents to $4.69. The sector, down 68 per cent during 2008, has surged 38 per cent in the first trading days of the year.
Sectors gainers included Platinum Group Metals (PTM.TO) soaring 26.29% to $2.69. Ivanhoe Mines (IVN.TO) jumped 18.09% to $4.70. First Quantum Minerals (FM.TO) higher by 17.74% to $24.01. Equinox Minerals (EQN.TO) up 16.06% to $2.00. Inmet Mining (INM.TO) up 16.71% to $28.99.

The telecom sector was the major decliner on the TSX as shares in Rogers Communications Inc. (TSX:RCI) were down $2.19 to $35 after the company said Apple's iPhone helped boost the number of new wireless subscribers to 199,000 in the fourth quarter of 2008.
Gainers in the tech & telecom sector include Research in Motion (RIM.TO) jumping 6.56% to $55.20. Absolute Software (ABT) soaring 14.67% to $4.69. Matrikon (MTK) higher by 22.73% to $2.70.
Decliners included Aastra (AAH) down 5.19% to $11.14.

The gold sector moved into positive territory, up two per cent as the February bullion contract on the Nymex closed up $8.20 to US$866. Goldcorp Inc. (TSX:G) added 42 cents to $35.14.
Gainers in the sector included Moto Goldmines (MGL.TO) soaring 25.45% to $2.07. Novagold jumped $13.36 to $2.46. Sherritt (S.TO) higher by 11.53% to $4.45.
Losers included Detour Gold (DGC.TO) dropping 5.55% to $8.00.

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