Roger Biduk; Sinking Day & Week on Wall Street

Roger Biduk;

Brutal week on Bay Street.
Another great week to short the markets with Exchange Traded Funds (ETFs).
Stock markets closed lower Friday with bank and insurance stocks under the gun ahead of a weekend meeting of G7 finance ministers and central bankers, who will address the ongoing global financial crisis.

Toronto's S&P/TSX composite index declined 100.68 points to 8,678.1 for a loss of 330 points or 3.66 per cent this week, led by sliding financial and commodity stocks. Gold companies advanced during the week.
The TSX Venture Exchange was up 9.77 points to 925.64.
The CDN$ was 0.7 cent higher to 81.03 cents US on Friday.

In other news, a Q400 Bombardier aircraft operated by Manassas, Va.-based Colgan Air crashed into a house just outside Buffalo, N.Y. Thursday night, killing all 49 people aboard and a person in the home. It was first fatal crash of a commercial airliner in the U.S. in 2 1/2 years. Bombardier Inc. (TSX:BBD.B) shares were down 24 cents to $3.29 Friday.

The S&P/TSX Capped Financial Index was down 2.37 per cent with Royal Bank (TSX:RY) 94 cents lower to $29.80 while Scotiabank (TSX:BNS) moved down 63 cents to $29.32.
Manulife Financial Corp. (TSX:MFC) shares were down 67 cents to $17.53 after losing $1.16 Thursday following a report by the company that it lost $1.87 billion in the fourth quarter. That was even worse than the $1.5-billion loss estimated in early December.
Sprott Inc. (SII) soared 11.03% to $4.63. Cymbria Corp. (CYB) gained 8.40% to $12.00 Savanna Energy Serv. (SVY) jumped 8.00% to $6.21. Uranium Part. Corp. (U) gained 7.53% to $7.00.Resverlogix Corp. (RVX) up by 6.42% to $3.38.
BAM Inv. (BNB) tanked 7.50% to $9.25. Connor, Clark & Lunn Global Fin. (GFT.UN) sank 6.47% to $4.05. US Financial 15 Split (FTU.PR.A) lost 6.04% to $3.11. Noranda Income Fund (NIF.UN) lower by 5.44% to $3.65. IGM Financial (IGM) down 5.41% to $31.80.

The March crude contract on the New York Mercantile Exchange soared 10.39% to US$37.51 a barrel and the S&P/TSX Energy Index was up .31%.
Pacific Rubiales Energy Corp. (PRE) soared 25.94% to $4.03. Angle energy (NGL) jumped 10.06% to $3.50. Trinidad Drilling (TDG) gained 9.12% to $2.99. Addax Petroleum Corp. (AXC) higher by 6.93% to $24.83.
EnCana Corp. (TSX:ECA) gained 70 cents to $54.11.

Roger Biduk;
The S&P/TSX Capped Diversified Metals & Mining Index was up 1.86% as aluminum dropped 2.70%, copper gained .26% and silver gained .85%.
Quadra Mining (QUA) jumped 6.59% to $3.88. Moto Goldmines Ltd. (MGL) gained 5.75% to $2.76.
New Gold (NGD) sank 6.87% to $2.71.
NovaGold Resources Inc. (TSX:NG) and Teck Cominco Ltd. (TSX:TCK.B) have a new agreement for funding their stalled Galore Creek copper-silver project in northwestern British Columbia. NovaGold shares were up 16 cents to $4.49 while Teck shares dipped eight cents to $4.92.

The S&P/TSX Global Gold Index dropped 2.96% as the April bullion contract in New York dropped $7.00 to US$942.20 an ounce.
US Gold corp. (UXG) soared 18.14% to $2.80. Premier Gold Mines (PG) jumped 16,29% to $2.57. US Gold Canadian Acquisition (UXE) gaining 13.04% to $2.60. First Quantum minerals (FM) up by 11.61% to $32.20. Imperial Metals (III) up by 6.58% to $2.59.
Keegan Res. (KGN) lost 6.61% to $2.12. Barrick Gold Corp. (TSX:ABX) faded $1.83 to $46.70.

The S&P/TSX Capped Information Technology Index dropped 2.74% and the S&P/TSX Capped Telecom Services Index was down .21%.
Ruggedcom (RCM) jumped 9.89% to $20.88. Computer Modeling Gr. (CMG) gained 9.26% to $8.85.
Vecima Networks (VCM) sank 11.27% to $5.75.
Research In Motion Ltd. (TSX:RIM) was also a weight on the TSX. Its shares fell $3 to $60.05, wiping out most of Thursday's gain. The stock took a 15 per cent hit on Wednesday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance. The fall came as Credit Suisse analyst Kulbinder Garcha cut his rating on the BlackBerry maker to under perform from neutral. He also slashed his earnings expectations for the February 2010 fiscal year and reduced his price target to US$37 from US$45.

Roger Biduk;
On the earnings front, Air Canada (TSX:AC.B) shares tumbled 48 cents or 25 per cent to $1.45 after the airline said Friday volatility in both fuel prices and foreign exchange rates drove 2008 financial results into the red for both the fourth-quarter and full year. Air Canada reported a fourth-quarter loss of $727 million, reversing year-earlier profits of $35 million.
Soaring fuel prices took a toll on Air Canada's full-year financial results as well, prompting the company to report a loss of $1.03 billion, reversing year-earlier profits of $429 million.
Telus Corp. (TSX:T) fourth-quarter profits were down 29 per cent to $285 million and its shares declined $1.04 to $34.
Oil and gas pipeline firm Enbridge Inc. (TSX:ENB) reported Friday a fourth-quarter profit of $263.4 million, up six per cent from the year-earlier quarter, with a boost from a stronger U.S. dollar. That was up from $248.6 million a year ago and its shares slipped 15 cents to $41.45.
Shares in CAE Inc. (TSX:CAE) rose 12 cents to $7.57 after the federal government said it is awarding the Montreal company a contract worth more than $300 million to build flight simulators for the Canadian Forces.

The S&P/TSX Consumer Discretionary Index was down .27% and the S&P/TSX Consumer Staples Index was up .41% as Glidan Activeware (GIL) sank 5.24% to $9.05.

The S&P/TSX Capped Health Care Index was higher by .13% as Cangene corp. (CNJ) gained 5.56% to $5.70.

The S&P/TSX Capped Utilities Index dropped .81%.

The S&P/TSX Capped Industrial Index was down 1.18% as ATS Automation (ATA) lost 5.74% to $3.94.
Vector Aerospace (RNO) jumped 8.53% to $4.07.
North American markets are closed Monday. The TSX is shuttered as Ontario observes Family Day while New York is closed for Presidents' Day.

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