http://ymlp334.net/zUCvAh -------------------------------------------------------------------------------- December 25, 2011 Week In Review...
Week In Review For December 19 to December 23, 2011 HAPPY HOLIDAYS FROM EVERYONE AT ALLPENNYSTOCKS.COM! Canadian Companies mentioned include:
* Tinka Resources Ltd. (TSX-Venture:TK) * Functional Technologies Corp. (TSX-Venture:FEB) * Majescor Resources Inc. (TSX-Venture:MJX) * GWR Resources Inc. (TSX-Venture:GWQ) U.S. Companies mentioned include:
* Legend Oil and Gas Ltd. (OTCBB:LOGL) * Municipal Mortgage & Equity, LLC. (Pink Sheets:MMAB) * Brekford Corp. (OTCBB:BFDI) * Far East Energy Corp. (OTCBB:FEEC) This week on AllPennyStocks.com:
* Article Published, December 20, 2011: Global Shipper Picks Up Trading Volume on a Flurry of December News (http://allpennystocks.com/aps_us/special_reports/225/Global-Shipper-Picks-Up-Trading-Volume-on-a-Flurry-of-December-News.htm) (U.S. Company) * Article Published, December 21, 2011: Junior Columbian Miner Extends Footprint in Columbian Gold Space (http://allpennystocks.com/aps_ca/special_reports/236/Junior-Columbian-Miner-Extends-Footprint-in-Columbian-Gold-Space.htm) (CDN Company) Video charts for the week:
* December 20th Technical Video Chart For MMAB. After a sharp climb from 13 cents to touch 34 cents, the MMAB chart has pulled back to a support level around 18 cents. Technical traders will be watching for the support level and the 50 dma to hold as the chart tries to continue its bullish ways. view:
* December 21st Technical Video Chart For TK:CA. Tinka Resources has made some solid swings upon bullish crosses of the MACD. It looks as if another bullish cross is coming as the price per share had a solid day on Tuesday, keeping this technical stock to watch on radar for a possible climb. view:
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WEEKLY UPDATE - STOCKS RALLY WITH STRONG NORTH AMERICAN ECONOMIC DATA IN THE SPOTLIGHT As the holiday season kicks into gear, trading volumes were notably light this past week as stocks continued their bipolar tendencies early in the week, but got wind under them on positive economic data as European concerns actually appeared to take a back seat to North American reports. As a general rule of thumb last week, U.S. economic data topped expectations and bolstered trader`s risk appetite for equities as market players prepared to take some time off for the upcoming holidays. The week did start rough as a dour new assessment of Europe`s economy and still fading gold prices weighed on the markets. European concerns were more subdued upon an upbeat reading on German consumer confidence and an unexpectedly strong auction of Spanish debt. Continuing in its efforts to provide liquidity and ease concerns over a credit crunch, the European Central Bank reported a strong demand for its 3-year longer term refinancing allotment. The report showed that 523 financial institutions loaned more than €489 billion ($639 billion U.S.) at the fixed rate of 1% to be paid ON January 2015. It was the biggest ECB infusion of credit into the banking system in the 13-year history of the shared euro currency.
The news, coupled with continuously upbeat economic data stateside, provided the markets the optimism that carried stocks throughout the remainder of the week.
Gold and silver were flat, but a surge in oil prices certainly helped the resource-heavy Canadian markets.
Fueling confusion early in the week, investors evaluated the potential consequences of the death of North Korea`s ruler, Kim Jong-Il.
Analysts were concerned about complications of a power transition to Jong-Il`s youngest son, Kim Jong Un, for the heavily divided communist state. With no major turbulence immediately coming forth, the news slid to the back burner as investors maintained their focus on bullishness with strong closes on Thursday and Friday capping a broad North American rally for the week.
The Canadian dollar gained some traction against its US counterpart, rising to its highest level in more than a week as reports showed the U.S. economic recovery gaining momentum last week. Canada`s largest trading partner, a strong U.S. economy bodes well for the loonie. On the week, Canada`s currency gained 1.67% against the USD, ending the week with one Canadian dollar buying US$0.980005.
* Gold bulls continued to stay on the sidelines this past week. They looked like they were coming out as bullion rose to $1,643.70 on Wednesday, but the value of the precious yellow metal demurred heading into Christmas. George Gero, a vice president with RBC Capital Markets, summed gold`s week best in stating, "There are no buy orders out there, and no sell orders. This is about as exciting as watching paint dry." On the week, February 2012 contracts, the most actively traded, added $10.60, or 0.66%, to close at $1,608.50 per troy ounce.
* Silver continued to ease and even pushed back through $30 per ounce one day last week. March contracts were the most actively traded and closed the week at $29.105 per ounce for a loss of 56.6 cents, or 1.91%.
* Copper futures slid on Monday, but rose four consecutive days after that, ending at a two-week high as positive housing data from the U.S.
raised hopes for copper demand in 2012. March contracts, the most actively traded on the Comex division of the New York Mercantile Exchange, appreciated by 12.8 cents per pound, or 3.84%, to $3.495.
* Crude oil rose sharply last week by gaining each and every day, capping its biggest weekly gain in two months. Economic reports from the States once again helped fuel gains as signs that the world`s largest crude consumer is still growing gave future demand a boost.
Crude for February delivery prices surged 6.77%, or $6.33 per barrel, on the week to close at $99.86, snapping a string of two straight down weeks.
Equity Market Snapshot:
* Energy stocks enjoyed rising oil prices. Talisman Energy sprung upward by 8.42%; Suncor Energy rose 5.32% and Canadian Natural Resources climbed 3.22%.
* Eldorado Gold Corp. reported a friendly, $2.5-billion takeover deal for European Goldfields Ltd., a Yukon-based gold miner with projects in Greece, Romania and Turkey. Investors weren`t impressed as NYSE shares shed 4.41% on the week.
* Financial plays were in focus, dragging the markets south on Monday before staging a comeback. Bank of America dipped to multi-year lows of below $5 per share, but recovered to gain 7.69% on the week to $5.60. Citigroup added 5.49%, Goldman Sachs added 4.10% and JPMorgan Chase rose 5.27% on the week.
* In other Bank of America news, the Justice Department announced a $335-million U.S. settlement with the bank over the practices of failed mortgage lender Countrywide Financial, a bank acquired by BofA in 2008.
* AT&T made big headlines as it announced the abandoning of its $39-billion U.S. bid for T-Mobile, a deal that would have created the largest wireless company in the U.S. Shares of ATT slid 0.88% on the week.
* TransCanada Corp. disclosed that it will pay approximately $454 million to Canadian Solar Inc. to build nine utility-scale solar projects in Ontario. Shares of Canadian Solar leapt upward by 17.92% on the week.
* Food retailer Winn Dixie rose upon news that it has agreed to merge with Bi-Lo to create an organization nearly 700 grocery stores throughout the U.S. Bi-Lo will acquire the outstanding Winn Dixie shares. Shares of WINN sprung 72.47% on the week.
* After missing earnings estimates the week prior and losing a bunch of ground, shares of Research In Motion Ltd. finally grew this past week upon news that the industry heavyweight had turned down potential takeover offers from online retail giant Amazon.com and other major technology players. Shares rose 3.53% on the week.
* Jeffries Group was a standout upon Q4 profits that topped analyst expectations. Despite also receiving a downgrade from the Meredith Whitney Advisory Group last week, shares of JEF increased by 13.89% to $14.02.
* The U.S. International Trade commission ruled that the software in some of HTC`s Android smartphones violated one provision of an Apple patent and that those phones would no longer be allowed into the U.S.
* In other big tech news, Google announced that it would acquire a portfolio of solar photovoltaic facilities with KKR & Co. The Internet giant and private-equity firm will become majority owners of four solar farms south of Sacramento. The deal brings Google`s total investment in renewable energy projects to more than $915 million.
Shares of GOOG rose 1.15% while shares of KKR rose 3.78% on the week.
Shares of Google have gained about $70 each in approximately one month.
* TMX Group Inc. reported that it purchased a 16% minority stake in the Bermuda Stock Exchange. Shares of X had fallen for the prior three weeks, but gained 2.02 percent last week.
* Oracle was a drag on the markets as a stark fall in earnings alerted investors to a potential tech consumer spending slowdown in the future. With the fall in earnings, shares tumbled 10.78%.
* Although not related to a public company, Saudi Prince Alwaleed Bin Talal and his investment company, Kingdom Holding Company, reported a combined investment of $300 million in Twitter, the ultra-popular social media website.
Weekly Indices Results:
The S&P TSX Composite Index recouped some of the last two week`s losses, adding 291.29 points, or 2.50%, to 11,926.67. The TSX Venture Exchange followed, rising by 43.57 points, or 3.06%, to finish at 1,469.68.
In the States, the Dow Jones Industrial Average pushed upward for the third time in four weeks, surging 427.61 points, or 3.60%, on the week to 12,294.00. The much-broader S&P 500 is green for 2011, rising last week by 45.67 points, or 3.74%, on the week to close at 1,265.33. The tech-rich NASDAQ Composite closed in the green as well, adding 63.31 points, or 2.48%, to 2,618.64.
Canadian Economic Data:
* Wholesale sales increased 0.9% to $49.2 billion in October, with the growth concentrated in the western provinces. In volume terms, wholesale sales increased 0.5% in October.
* Consumer prices rose 2.9% in the 12 months to November, matching the increase in October. While the 12-month change in gasoline prices continued to ease, the year-over-year increase in food prices remained high.
* Retail sales rose 1.0% to $38.6 billion in October, a third consecutive monthly increase. Gains were reported in seven of 11 subsectors, representing 76% of retail sales. The increase was led by higher sales at motor vehicle and parts dealers and gasoline stations.
* In October, average weekly earnings of non-farm payroll employees increased 1.4% to $885.36 from the previous month. On a year-over-year basis, average weekly earnings rose 2.7%.
* Real gross domestic product was unchanged in October, following four consecutive monthly increases. The output of the goods-producing industries fell 0.2% in October as a result of declines in utilities, construction, and mining and oil and gas extraction. These declines offset a gain in manufacturing. Services increased 0.2%, led by retail trade and, to a lesser extent, finance and insurance, the public sector and professional services.
Next week, the nation`s number crunchers will be taking a break.
U.S. Economic Data:
* 2011 may go down as one of the worst years in the housing industry, but at least the year seems to be ending strong. The Commerce Department`s latest report on new home sales showed that new home construction rose 1.6% in November compared to 1.3% in October.
* Sales of existing homes in the U.S. rose in November to a 10-month high, showing demand may be starting to stabilize following a plunge over the past four years. Purchases climbed 4 percent to a 4.42 million annual pace, the most since January, according to the National Association of Realtors.
* Filings for first-time unemployment benefits dropped to 364,000 last week, 4,000 fewer than a week earlier, representing their lowest level since April 2008. Economists had expected initial claims to have risen to 380,000.
* The most recent estimate of gross domestic product for the U.S.
showed that the economy grew at a slightly slower pace in the third quarter than expected, but still grew nonetheless. GDP grew at an annualized pace of just 1.8%, slower than the 2% in Q2.
* The University of Michigan`s consumer sentiment index rose to a level of 69.9 for December, up from a preliminary reading of 67.7 and topping estimates of a 68 reading.
* U.S. housing starts increased by 9.3%, to an annualized pace of 685,000 in November, from 627,000 in October, as building permits rose 1.8% to 681,000 compared to last year. Keeping the theme of beating expectations, the 685,000 starts topped estimates of 635,000.
* After a flat month of October, U.S. November durable goods orders rose 3.8%, more than the 2% forecast.
Next week is a light data week, but investors will be looking for Consumer Confidence stats on Tuesday; and Pending Home Sales and Chicago Purchasing Manager Index updates on Thursday.
Penny Stocks to Watch & Company Spotlight Results:
Among the stocks we watched this week, miner Tinka Resources Ltd.
(TSX-Venture:TK) looked very strong while pushing to its intraweek high of $0.325 before an unexpected gap downward aided in the stock closing down by a half a cent, or 1.59%, at $0.31. The other stock we had on radar, services company First Venture Technologies Corp.
(TSX-Venture:FEB) had a light volume week, but still pushed upward by 1.5 cents, or 3.33%, at $0.465 with and intraweek high of 50 cents.
In the States, energy explorer Legend Oil and Gas Ltd. (OTCBB:LOGL) moved quickly to its intraweek high of $1.24 before a setback erased some gains with the stock closing at $1.15, up 3 cents, or 2.68%, on the week. The other U.S. stock on our watchlist, real estate financer Municipal Mortgage and Equity, Inc. (Pink Sheets:MMAB) tumbled on Tuesday and couldn`t recoup the losses, closing the week down by $0.013, or 7.03%, at $0.172 with and intraweek high of $0.185.
If you`d invested in all four stocks and held them to the end, you`d have seen a small loss of 0.65%. However, if you`d bought all four at the beginning of the week and sold each at its peak, you`d have realized average gains of a 6.25%.
Next week and the last one of the year, we focus on Canada`s Majescor Resources Inc. (TSX-Venture:MJX) and GWR Resources Inc.
(TSX-Venture:GWQ). In the States, look for big things from Brekford Corp. (OTCBB:BFDI) and Far East Energy Corp. (OTCBB:FEEC).
Lastly, we would like to wish our over 73,000 subscribers and all their families all the best over the holiday season. Enjoy the company of family and friends, take some time off from work and spend some time relaxing during this special time of the year. From all of us at AllPennyStocks.com, happy holidays! ------------------------- Forward Looking Statements This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company`s growth expectations and ongoing funding requirements, and specifically, the Company`s growth prospects with scalable customers, and those outlined above. Other risks include the Company`s limited operating history, the Company`s history of operating losses, consumers` acceptance, the Company`s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company`s securities, the possible volatility of the Company`s stock price, the concentration of ownership, and the potential fluctuation in the Company`s operating results.
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