Roger Biduk; Financials & Energy Smack Bay Street

Roger Biduk;

Told you.
I said months ago the markets would test their lows for the year.
The Exchange Traded Funds (ETFs) that profit from the declining markets and industry sectors were up huge today in very heavy volume on the Canadian & U.S. markets.

Exchange Traded Funds (ETFs) were the biggest percentage gainers on Bay Street.
Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) soared 17.69% to $44.85. Horizons BetaPro MSCI Emerg Markets Bear+ ETF (HJD-T) jumped 15.63% to $16.94. Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) rose 13.31% to $45.20. Horizons BetaPro NYMEX Natural Gas Bear+ ETF (HND-T) gained 12.41% to $53.96. Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) higher by 8.40% to $15.35.

Stock markets retreated Tuesday on top of steep losses last week as pessimism about the global economy took a big bite out of bank stocks and investors worried about the survival of General Motors Corp.

Toronto's S&P/TSX composite index tanked 299.4 points to 8,378.7 after losing more than 3.5 per cent last week.
The TSX Venture Exchange dipped 6.48 points to 919.16.
The Canadian dollar was also pounded alongside other major currencies as investors piled into the American greenback, down 1.27 cents from Monday's close to 79.13 cents U.S. after going as low as 78.9 cents U.S.

Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 2.84%.

The Toronto financial sector was the major decliner as the S&P/TSX Capped Financial Index tanked 6.42% and extending last week's losses on unrelenting concerns about the stability of the global financial system.
Royal Bank (TSX:RY) moved down $1.65 to $28.15 while Manulife Financial (TSX:MFC) dropped $1.86 to $15.67.

The March crude contract on the New York Mercantile Exchange sank 6.88% to US$34.93 a barrel and the S&P/TSX Energy Index dropped 4.98%.
EnCana Corp. (TSX:ECA) declined $2.81 to C$51.30 in Toronto and Suncor Inc. (TSX:SU) gave back $1.71 to $22.82.
A key lender is demanding Canadian Superior Energy Inc. (TSX:SNG) completely repay a $45-million credit line by next Monday - the latest challenge to hit the troubled oil and gas company. Canadian Superior is in talks with the Canadian Western Bank (TSX:CWB) in hopes of extending the repayment deadline past Feb. 23. Canadian Superior shares plunged 20 cents or 29.9 per cent to 47 cents while Canadian Western Bank shares fell 22 cents to $11.01.

The S&P/TSX Capped Diversified Metals & Mining Index was down 3.50% as aluminum dropped 3.17%, copper sank 7.20% and silver gained 2.83%.
FNX Mining (TSX:FNX) stepped back 13 cents to $3.87 .
Shares of Teck Cominco Ltd. (TSX:TCK.B) fell 48 cents to $4.44 after the company reported that one-time charges and a sharp drop in commodity prices dragged the debt-strapped mining giant into a loss of $607 million or $1.28 a share for the fourth quarter. The results reversed year-earlier profits of $280 million or $1.12 a share.
Cameco Corp. (TSX:CCO), the world's largest uranium miner, says its well-established customer base and growing demand for nuclear energy will help it weather the economic downturn and ongoing problems at its flooded Cigar Lake mine in Saskatchewan. Its shares were down $1.03 to $18.17.

Roger Biduk;
The S&P/TSX Capped Utilities Index dropped 1.00%.

The latest flight to safety boosted gold prices as the S&P/TSX Global Gold Index soared 4.50% as the April bullion contract in New York jumped $25.30 to US$967.50 an ounce.
Goldcorp Inc. (TSX:G) ahead $1.33 to $40.45 and Barrick Gold (TSX:ABX) advanced 49 cents to $47.19.

The S&P/TSX Consumer Discretionary Index was down 2.34% and the S&P/TSX Consumer Staples Index was up .41%.

The S&P/TSX Capped Industrial Index was down 3.38%.

The S&P/TSX Capped Information Technology Index dropped 1.22% and the S&P/TSX Capped Telecom Services Index was down .21%. Research In Motion Ltd. (TSX:RIM) continued to be a weight on TSX, losing $3.51 to $56.54 after RIM said co-CEO's Bastille and Lizards and two former executives have settled allegations of stock option back dating with the U.S. Securities and Exchange Commission. Total monetary penalties of US$1.4 million are to be paid.

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