Roger Biduk; Bay Street lower on RIM & Energy.

Roger Biduk;

An attempt to recover from big losses on the Toronto stock market was partly foiled Wednesday by a sharp pullback in Research In Motion Ltd. (TSX:RIM) shares after the BlackBerry maker issued a profit warning.
Toronto's S&P/TSX composite index declined 80 points to 8,737.89 after tumbling 229 points in the previous session on disappointment over the U.S. government's plans for reshaping its financial rescue fund.
The TSX Venture Exchange edged up 9.17 points to 911.26.
The Canadian dollar closed up 0.22 cent to 80.46 cents US, after losing almost two cents Tuesday.

Leading ETFs (Exchange Traded Funds) higher were Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) soaring 13.82% to $14.82. PowerShares DB Crude Oil Double Short ETN (DOE-T) jumping 11.61% to $254.25. Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) up 9.18% to $35.10.

Statistics Canada reported Canada recorded a trade deficit of $458 million in December - the first such deficit since March 1976 as exports dropped 9.7 per cent while imports fell 5.7 per cent.

Energy stocks were also a major source of weakness in Toronto and New York as a report showed U.S. crude inventories rose for a seventh straight week, up 4.7 million barrels to an 18-month high. The data sent the March crude contract on the New York Mercantile Exchange down 4.29% to US$35.94 a barrel and the S&P/TSX Energy Index was down 1.71%.
EnCana Corp. (TSX:ECA) fell $2.19 to $53.12 and Canadian Natural Resources (TSX:CNQ) dropped $1.74 to $43.14. Pacific Rubiales Energy (PRE) soared 11.47% to $3.11. Orleans Energy (OEX) jumped 7.50% to $2.15. Heritage Oil (HOC) gained 5.48% to $3.85.
Nexen (NXY) dropped 5.47% to $17.44. Eveready (EIS) tanked 10.26% to $5.25.

Roger Biduk:
The S&P/TSX Capped Financial Index was down 1.39 per cent on top of Tuesday's four per cent loss with Scotiabank (TSX:BNS) down 66 cents to $29.52 and Royal Bank (TSX:RY) gave back 35 cents to $30.35.
Crown hill fund (MYT.UN) soared 13.69% to $4.90. Dynasty Metals & Mining (DMM) jumped 10.92% to $4.47. Resverlogix Corp. (RVX) rose 9.75% to $3.04. Franco Nevada Corp. (FNV) up 6.04% to $6.04.
Amalgamated Income ltd. Part. (AL.UN) tanked 12.00% to $2.42. Global banks Premium Income Tr. (GBP.UN) sank 11.38% to $2.18. Copernican World Banks Split (CBW.PR.A) dropped 8.75% to $2.92. Noranda Income Fund (NIF.UN) dropped 8.02% to $3.90. Kingsway Financial Services (KFS) sank 7.94% to $3.94.

The S&P/TSX Global Gold Index soared 7.68% as the April bullion contract in New York moved up $30.30 to US$944.50 an ounce.
Goldcorp Inc. (TSX:G) advanced $2.22 to $39.05 while Barrick Gold Corp. (TSX:ABX) climbed $1.73 to $47.92. Vista Gold (VGZ) soared 16.18% to $3.16. Kinross Gold (K.WT.C) jumped 15.60% to $15.60. Great Basin Gold (GBG) rose 13.64% to $2.00. Greystar Res. (GSL) rose 13.21% to $3.00. Int’l. Minerals Corp. (IMZ) up 12.68% to $3.20.

The S&P/TSX Capped Divesified Metals & Mining Index soared 4.63% as aluminum dropped 2.64%, copper dipped 2.28% and silver gained 2.97%.
Ivanhoe Mines (TSX:IVN) ran ahead 74 cents or 19 per cent to $4.63 and Inmet Mining Corp. (TSX:IMN) gained $2.30 to $27.95. Silver Wheaton (SLW) soared 13.35% to $9.00. Keegan Resources (KNG) rose 10.00% to $2.20. Gabriel Res. (GBU) gained 9.09% to $2.76. Red Back Mining (RBI) gained 8.74% to $7.84.
But Grande Cache Coal Corp. (TSX:GCE) shares fell eight cents to 77 cents after announcing it is cutting 100 jobs and scaling back output by 25 per cent to deal with slumping steel demand that has led its customers to defer coal purchases into 2010.

Roger Biduk:
The S&P/TSX Capped Information Technology Index tanked 5.44% and the S&P/TSX Capped Telecom Services Index was down .21%.
AXIA NetMedia Corp. (AXX) jumped 10.80% to $2.36.
Reasearch in Motion (RIM) tanked 15.35% to $60.00.

The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was down 1.81%.

The S&P/TSX Capped Health Care Index was higher by .99%.

The S&P/TSX Capped Utilities Index dropped 1.84%.

The S&P/TSX Capped Industrial Index was down 1.22%.

In other earnings news, BCE Inc. (TSX:BCE) posted a fourth-quarter loss of $48 million or six cents per share on investment losses and writedowns. The telecom company also boosted its dividend five per cent and its shares were ahead 36 cents to $25.49.
WestJet shares (TSX:WJA) dropped 80 cents to $12.95 as fourth-quarter profit fell to $40.8 million from $75.4 million.
Fourth-quarter profits at fertilizer producer Agrium Inc. (TSX:AGU) fell to $124 million from $172 million, but its annual profit of $1.3 billion more than tripled its previous record earnings in 2007. Agrium shares rose $1.20 to $47.21. CAE Inc. (TSX:CAE) rose nine cents to $7.39 after the Montreal-based global leader in flight simulators reported a 35 per cent climb in quarterly net profit to $53.3 million as revenue rose 23 per cent to $424.6 million.

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