Roger Biduk; Bay Street Gets Wacked

Roger Biduk;

Interesting markets these days, to say the least.
The Toronto's S&P/TSX composite index dropped 435.51 points or 5.35 per cent to 7,687.51, its worst level since the fall of 2003.
The TSX Venture Exchange was off 33.42 points to 828.24.
The Canadian dollar lost 1.16 cents to 77.44 cents US a day before the Bank of Canada makes its next announcement on interest rates. Economists say it could cut by half a point, which would bring the central bank's key rate down to 0.5 per cent.

Exchange Traded Funds (ETFs) were again among the biggest percentage gainers and losers on Wall Street and Bay Street.
Horizons BetaPro NYMEX Crude Oil Bear (HOD) +19.66% to $37.79. Horizons BetaPro S&P/TSX Cap Energy Bear (HED) +17.13% to $23.04. Horizons BetaPro S&P/TSX Glbl Mining Bear (HMD) +13.72% to $13.18. Horizons BetaPro MSCI Emerging Markets Bear (HJD) +11.93% to $20.26. Horizons BetaPro S&P/TSX 60 Bear Plus (HXD) +11.68% to $35.20.

Making things worse on Toronto's heavily energy weighted stock index was a big plunge in the price of oil.
The April crude contract on the New York Mercantile Exchange cratered 10.30% to $40.15 and natural gas dropped 1.10% to $4.15 as the S&P/TSX Energy Index tanked 8.31%.
The drop was blamed on expectations of widening and deepening economic weakness.
Eveready Inc. (EIS) -16.34% to $2.56. Paramount Resources Ltd. (POU) -14.95% to $5.29. Crew Energy Inc. (CR) -14.86% to $2.75. Trinidad Drilling Ltd. (TDG) -13.95% to $2.22. Enerplus Resources Fund (ERF.UN) -12.80% to $18.80. EnCana Corp. (TSX:ECA) fell $3.13 to $47.07 and Suncor Inc. (TSX:SU) stepped back $2.71 to $23.75.

Roger Biduk;
Meanwhile, Statistics Canada reported the Canadian economy shrank at an annualized rate of 3.4 per cent in the fourth quarter. The contraction worsened toward the end of 2008, with gross domestic product declining one per cent in December.

The S&P/TSX Capped Financial Index dropped 4.47% as Scotiabank lost $1.68 to $27.03 and CIBC (TSX:CM) fell $2.90 to $40.25. Royal Bank of Canada (TSX:RY) shed 95 cents to $29.97, and insurer Manulife Financial (TSX:MFC) fell $1.32 to $11.58.
Energy Split Corp. Inc. (ES) -19.96% to $4.01. Premium Income Corporation (PIC.A) -16.32% to $2.00. Savanna Energy Services Corp. (SVY) -14.34% to $4.48. Artis Real Estate Investment T (AX.UN) -13.55% to $5.55. ARC Energy Trust (AET.UN) -13.12% to $12.12.
Prime Dividend Corp. (PDV.PR.A) +9.07% to $8.30. Claymore Equal Weight Banc & L (CEW) +6.99% to $4.59. Royal Host Real Estate (RYL.UN) +6.11% to $2.78.

The S&P/TSX Capped Information Technology Index lost 1.46% and the S&P/TSX Capped Telecom Services Index was down 3.10%.
Absolute Software Corporation (ABT) -9.46% to $3.54. SXC Health Solutions Corp. (SXC) -7.12% to $22.82. 5N Plus Inc. (VNP) -6.95% to $4.82. Research in Motion Limited (RIM) -5.78% to $47.90.

Roger Biduk;
The S&P/TSX Capped Industrial Index tanked 5.10%.
Bombardier Inc. (BBD.B) -13.85% to $2.55. Sino-Forest Corporation (TRE) -11.41% to $7.53. TimberWest Forest Corp. (TWF.UN) -8.93% to $2.65. ATS Automation Tooling Systems (ATA) -8.83% to $3.20. Newalta Inc. (NAL) -8.24% to $3.90.

The S&P/TSX Global Gold Index dropped 5.46% even as the April bullion contract in New York lost $2.40 to US$940.00 an ounce.
Detour Gold Corporation (DGC) -18.06% to $8.71. NovaGold Resources Inc (NG) -12.63% to $3.25. Yamana Gold Inc. (YRI) -8.45% to $10.18. Kinross Gold Corporation (K.WT.B) -7.93% to $2.670. First Quantum Minerals Ltd. (FM) -7.68% to $31.00.

The S&P/TSX Capped Utilities Index lost 2.21%.
Canadian Hydro Developers Inc (KHD) -11.03% to $2.34. Atlantic Power Corporation (ATP.UN) -5.99% to $7.37.


The S&P/TSX Consumer Discretionary Index was 2.67% lower and the S&P/TSX Consumer Staples Index was down .49%.
Cascades Inc. (CAS) -17.31% to $2.15. Rogers Sugar Income Fund (RSI.UN) -7.08 to $3.02.

The S&P/TSX Capped Diversified Metals & Mining Index dropped tanked 6.30% as aluminum dropped 1.63%, copper lost 1.46% and silver dropped .31% to $13.07.
Agrium Inc. (AGU) -12.88% to $38.48. Enerplus Resources Fund (ERF.UN) -12.80% to $18.80. PDX Resources Inc. (PLG) -12.40% to $2.26. Teck Cominco Limited (TCK.B) -11.63% to $3.95. Inmet Mining Corporation (IMN) -10.89% to $25.70.

The S&P/TSX Capped Health Care Index was lower by 1.14%.
Biovail Corporation (BVF) +5.33% to $14.24. Futuremed Healthcare Income Fund (FMD.UN) +6.49% to $8.70. Medical Facilities Corporation (DR.UN) -6.67% to $7.00. Atrium Innovations Inc. (ATB) -5.60% to $14.15.

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