Dow Hits New Record High On Upbeat Economic Data

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http://ymlp231.net/zsfXKC ——————————————————————————– March 10, 2013 Week In Review…


Week In Review For March 4 to March 8, 2013 Canadian Technical Penny Stocks To Watch This Week:

* Difference Capital Funding Inc. (TSX-Venture:DCF) * Long Run Explorations Ltd. (TSX:LRE) * Iona Energy Inc. (TSX-Venture:INA) U.S. Technical Penny Stocks To Watch This Week:

* NanoViricides Inc. (OTCBB:NNVC) * Gafisa S/A ADS (NYSE:GFA) This week on AllPennyStocks.com:

* Article Published, March 5, 2013: Golden Star Resources Swings to a Profit in Q4 and Pens Resettlement Agreement in Ghana (http://www.allpennystocks.com/aps_us/special-reports/338/golden-star-resources-swings-to-a-profit-in-q4-and-pens-resettlement-agreement-in-ghana.htm) (U.S. / CDN Company) * Article Published, March 8, 2013: General Donlee Declares Dividend and Ends Year with Record Order Backlog of 65 Million Dollars (http://www.allpennystocks.com/aps_ca/special-reports/334/general-donlee-declares-dividend-and-ends-year-with-record-order-backlog-of-65-million-dollars.htm) (CDN Company) Video charts for the week:

* March 6th Technical Video Chart For LRE:CA. The Westfire Energy chart is making higher lows from a base last month at $3.80. The indicators are pointing to a shift in trend and momentum which could lead to a climb towards resistance around $4.30 as the upward trend continues. view:

( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/J6sX_6TgaQE ).

* March 6th Technical Video Chart For ROIAK. The Radio One chart made a strong move on Tuesday to push against 52-week highs and resistance at $1.73. Investors will be taking cues from key indicators to see if there is enough momentum to take out the top and make new highs. Click here to view:

( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/u-GrjVmH0HY ).

Featured Link: BullishInvestor.com ( http://www.bullishinvestor.com ) – Offering Free U.S. and Canadian technical analysis charts, buy/sell ratings and stock screening tools for over 15,000 stocks utilizing technical analysis techniques such as candlestick charting, technical analysis indicators as well as volume and trend analysis.

WEEKLY UPDATE -UPBEAT ECONOMIC DATA STEERS STOCKS UPWARD AS DOW SETS NEW RECORD HIGH Any bears that were meandering around Wall Street this past week were gored by the bulls and sent whimpering away from the hallowed doors of the New York Stock Exchange as the Dow Industrial Average surged for five consecutive days to new record highs. The driver was simply a week-long string of economic data that topped expectations on virtually every occasion to show that the jobs market is gaining some traction and the economy continues to be on the mend.

The Dow broke through old highs from October 2007 of 14,198.10 on Tuesday and never looked back, even surpassing 14,400 to a new record of 14,413.17 on Friday before closing the week at 14,397.07. The S&P 500 ended the week at its highest closing price ever of 1,551.18, but it is still 24.91 points shy of the all-time peak of 1,576.09 that was hit in October 2007. Although the Nasdaq is still far from its highs of 5,132.52 during the tech bubble peak in March 2000, the index is still at its highest point since November of 2000.

The positive economic news helped investors take federal spending cuts in stride that could have been detrimental should the jobs and factory information come in worse than anticipated. While the $8.5 billion in sequester cuts can certainly be a drag on the growth of the U.S.

economy, some economists are focused on the bright side of the nation being forced to deal with its bloated debt and come to terms with a more responsible, targeted budget that will temper expenses and still support expansion.

Data from Lipper showed that investors keep pouring money into stock mutual funds with an additional $3.2 billion going in to funds this past week, representing the ninth straight week of net inflow and bringing the total in 2013 to $59 billion.

Riding the coat tails of rising US markets, a far better-than-expected jobs report in Canada also helped boost the TSX Composite for the week and has the exchange pushing on its highest levels since August 2011.

The upbeat data at the end of the week helped lift the TSX after early-week warnings from Canada Mortgage and Housing Corp. of a slowdown in the housing sector coming in 2013 (news that was supported by data on Friday). The smaller Venture exchange is clearly the laggard looking to find its footing with the chart for the index dropping a hammer on a bottom this past week, perhaps signaling that it is finding some buying support.

China, the world`s second biggest economy, remained in focus as HSBC data showed that the nation`s service sector slowed in February as gauged by the HSBC Services Purchasing Manager`s Index slipping from 54.0 in January to 52.1 last month, although still above the 50 mark that signals a growing industry. In his final “state of the union” speech, outgoing Premier Wen Jiabao said the nation will have “to work hard to attain” it`s 7.5 percent growth target for 2013, but the country`s leaders will take steps to ensure that the goal is met, calming some nerves on Wall Street about a continuing slowdown for the country. China has been growing at double-digit levels for decades, but the country has more recently shifted away from its break-neck pace that was based largely on massive exports to more initiatives supporting domestic spending to build its economy.

After the frantic week, what`s to come this week is a bit of a toss-up with little catalysts early in the week coming from Washington. From mid-week on, key economic information such as retail sales stats and the latest news of inflation (the Consumer Price Index) certainly have market moving capacities. The bulls momentum was strong chugging into the weekend and they are going to want to see the S&P break through to a new record high, so some tempered optimism to push equities upward early is likely until some more concrete information is delivered starting Wednesday.

The Canadian dollar pushed its losing streak against the US dollar to five straight weeks, although it is not perhaps as much weakness in the loonie as it is strength in the greenback. The strong economic data in the U.S. outpaced decent data from Canada, including a jobs report that smoked predictions, sending the CDN dollar higher on Friday against most global counterparts, including making up some ground on the USD for the second straight day. The USD, however, has been particularly strong, including hitting 3-1/2 year highs against the yen and two-month highs against the euro, making it tough on the Canadian dollar to move back towards parity with its US counterpart.

On the week, Canada`s dollar declined 0.20%, or $0.001905 against the greenback, meaning next week will begin with one Canadian dollar buying US$0.972195.

Commodity Snapshot:

* Gold futures traded sideways this past week torn between being oversold for the last several months and economic data that dampened the idea the economic stimulus packages would continue in the long term, given a strengthening U.S. economy. Further, gold refused to drop lower in the face of a continually strengthening U.S. dollar, adding support for gold bulls that a rise in bullion is imminent after the bears crushed prices by more than $200 per ounce in the past five months. April contracts were the most actively traded during the past week, edging up by $4.60 per ounce, or 0.29%, to $1,576.90.

* Silver futures poked ahead to seven-day highs on Friday before narrowly closing ahead in a volatile trading day. Much like gold, silver prices defied the typical trend of precious metal prices falling on a stronger dollar and positive economic data that takes the luster off the metals as a “safe haven,” although silver, because of its many industrial uses, can draw support from macroeconomic cues.

Outside of a dip on the first day of March, silver futures seem to be setting a new support level at $28.25. On the week, May contracts for silver were the most actively traded, rising 45.8 cents, or 1.61 percent, to $28.948 per ounce.

* Copper prices fluttered around 15-week lows all week as concerns about an overabundant supply of the industrial red metal surfaced this past week. Stockpiles in warehouses at the London Metal Exchange are now at their highest level since October 2011 as data showed that imports of copper in China, the world`s largest copper consumer, fell to a 20-month low in February. May contracts were the most actively traded on New York`s COMEX exchange during the week; eking up by 8/10ths of a penny, or 0.23%, to $3.509 per pound.

* Oil prices found some late-week strength on the better-than-expected jobs data in the States which sparked potentially increased future demand, helping West Texas Intermediate crude snap a three-week losing streak and cap its biggest weekly gain in more than a month. Crude rose amidst headwinds of the rising USD, which makes oil less attractive and more expensive for investors using other currencies. On the week, April contracts for West Texas Intermediate crude were the most actively traded; adding $1.27, or 1.40%, to $91.95 per barrel.

Equity Market Snapshot:

(All percentages on a weekly basis unless otherwise noted) * Major gold miners were mixed with gold trading in a tight range.

Goldcorp (TSX:G, +0.42%), , Newmont Mining (TSX:NMC, +0.90%) and Kinross Gold (TSX:K, +3.30%) climbed, but Yamana Gold (TSX:YRI, -3.23%), Agnico-Eagle Mines (TSX:AEM, -1.89%) and Barrick Gold (TSX:ABX, -1.42%) lost points.

* Aurizon Mines Ltd. (TSX:ARZ, +4.60%) saw shares climb as it reported receiving a friendly $796-million takeover offer from Hecla Mining Co. (NYSE:HL, -8.41%). Hecla`s offer values Aurizon at $4.75 per share, 40 cents above Aurizon`s closing stock price on the prior Friday.

* Major energy plays were largely a drag again last week. Imperial Oil Ltd. (NYSE:IMO, +1.31%) and Suncor Energy (NYSE:SU, +1.56%) moved upward, while Exxon Mobil (NYSE:XOM, -0.51%), Talisman Energy (NYSE:TLM, -1.72%), Cenovus Energy (NYSE:CVE, -0.44%) and Canadian Natural Resources (NYSE:CNQ, -0.13%) faded down.

* Canadian Natural Resources reported adjusted earnings of 33 cents per share in the fourth quarter, missing analyst predictions of 39 cents per share. Net income was $352.8 million, or 32 cents per diluted share, compared to $832 million, or 76 cents per share, in the fourth quarter of 2011. Quarterly revenue of $3.7 billion beat analysts, although still about $500 million lower than the year prior quarter.

* The biggest of banks in the US posted steady gains this past week.

Goldman Sachs Group (NYSE:GS, +1.63%), JPMorgan Chase (NYSE:JPM, +2.64%), Bank of America (NYSE:BAC, +6.44%), Wells Fargo & Co.

(NYSE:WFC, +3.14%), Citigroup (NYSE:C, +10.85%) and UBS AG (NYSE:UBS, +2.38%) all appreciated in value. XLF (NYSE:XLF, +3.40%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, surged.

* The U.S. Federal Reserve released results from its so-called “bank stress tests” which showed that the biggest banks in the country have more than enough capital to withstand any future market shocks, with Citi being tagged as in the best position to handle any type of a recession. The passing of the tests opens the doors to banks increasing dividends and buying-back shares. After the results were released, Citi immediately announced that it has asked the Federal Reserve to okay a plan for a $1.2 billion repurchase of its common stock over the next year.

* Canada`s biggest banks were underachievers compared to US banks.

Toronto-Dominion Bank (TSX:TD, +0.15%) nosed ahead, but The Bank of Nova Scotia (TSX:BNS, -0.74%), Bank of Montreal (TSX:BMO, -0.34%), Royal Bank of Canada (TSX:RY, -2.10%), Canadian Imperial Bank of Commerce (TSX:CM, -0.24%) and National Bank of Canada (TSX:NA, -0.21%) all docked points.

* Scotiabank announced a quarterly dividend hike of 3 cents to 60 cents as it reported $1.63 billion of net income, or $1.25 a share, in the latest quarter, up 13% percent from the year earlier quarter.

Adjusted earnings were $1.27 per share, nipping ahead of analyst expectations of $1.25 per share.

* Canada`s Competition Bureau approved Bell Canada`s (TSX:BCE, +0.86%) takeover offer of Astral Media Inc. (TSX:ACM.A, +1.79%) as long as BCE divests Astral`s interests in several specialty and pay television channels, saying that not making those moves could lead to higher prices and less choices in television programming. The deal still requires approval from the CRTC.

* Shares of software company Open Text Corp. (TSX:OTC, +5.24%) got a lift after reporting that it acquired Resonate Knowledge Technologies.

The two companies have more than 500 clients in common in 20 countries. Terms of the deal were not disclosed.

* Internet radio company Pandora (NYSE:P, +12.11%) reported fourth-quarter revenue of $125.1 million and a non-GAAP loss of $0.04 per share, that beat analyst expectations of $122.81 million in sales and a net loss of 5 cents per share. CEO Joseph Kennedy surprised by announcing that he is stepping-down from his position, although he will stay with the company until they find a replacement. Shares of P have nearly doubled since November.

* BlackBerry (TSX:BB, -1.47%) lost some ground this past week despite the phone maker saying that it secured two major supply contracts for its new BlackBerry Z10 devices. The first is with the German government for 5,000 phones and the second is with a mental health organization based in the United Kingdom for 1,000 phones. The contract with German ministries and federal agencies was part of a larger order of 10,000 phones, of which Samsung received the other half to be filled with its Galaxy handsets.

* Shares of Skullcandy, Inc. (NASDAQ:SKUL, -16.24%) tumbled after the headphone maker beat analyst predictions with a 21 percent increase in fourth-quarter sales to $101 million. Excluding items, earnings totaled 47 cents per share. Analysts were expecting EPS of 47 cents and $98 million in revenue. The crippler to share price was first-quarter guidance in which the company predicts a loss of 5 cents between 25 and 30 cents per share, far below Wall Street predictions of a 5 cent per share profit.

* Target Corp. (NYSE:TGT, +3.46%) said that it has opened its first three of its outlet stores in Canada as part of a broad plan to open about 130 stores in the country. The first stores were opened in Ontario.

* The hedge fund saga surrounding nutritional supplement company Herbalife Ltd. (NYSE:HLF, +3.49%) took another turn as billionaire activist investor Carl Icahn disclosed raising his holdings in the company from 13 percent to 15.5 percent. Icahn and hedge fund manager Bill Ackman, who has a billion-dollar short position in Herbalife, have been at war in 2013 over their opposing sentiment toward the company.

* Shares of embattled retailer JC Penney Inc. (NYSE:JCP, -14.58%) dropped to four-year lows after Vornado Realty Trust (NYSE:VNO, +4.89%), one of the company`s largest shareholders, reportedly sold 40 percent of its stake, or about 10 million shares. Last week, Vornado said that it lost about $225 million in the fourth quarter on its investment in JCP. Losses after the sale are estimated around $60 million. Pershing Square Capital Management, the hedge fund run by the aforementioned Ackman, still holds a 17.8 percent stake in JCP.

Rumors are starting to swirl that shareholders may soon be calling for the replacement of Ron Johnson as CEO at JCP.

* The European Union fined Microsoft (NASDAQ:MSFT, +0.18%) 561 million euro, or about US$732 million, for failing to provide users of Windows 7 with a choice of Internet browsers. The EU watchdog said that Microsoft is the first company to break an agreement which would have allowed more than 15 million consumers an alternative to Internet Explorer.

* Time Warner Cable (NYSE:TWC, +1.22%) said that it intends to spin-off its Time Inc. magazine business into a separate public company. Once a conglomerate of media types, the move to send the iconic magazine off on its own, completes a transformation that leaves TWC as a pure cable television and movie company. Shares of rival publisher Meredith Corp. (NYSE:MDP, -8.68%), who previously had been in discussions to buy Time, Inc., fell upon the news.

* The U.S.`s largest grocery store operator, Kroger Co. (NYSE:KR, +5.55%) saw shares hit record highs as it reported revenue of $24.15 billion in the fourth quarter, compared to $21.41 billion in the year prior quarter. The company earned a profit of $461.5 million, or 88 cents per share, in the latest quarter, compared to a net loss of $306.9 million, or 55 cents per share, in the fourth quarter of fiscal 2011, which included a $591 million pension charge. Analysts were expecting Kroger to report earnings per share of 70 cents and revenue of $24.01 billion. Kroger also delivered guidance for 2013 that surpassed Wall Street predictions.

Weekly Indices Results:

The S&P TSX Composite Index climbed for the third straight week; advancing 62.49 points, or 0.49%, to 12,835.61. The TSX Venture Exchange pulled up from lows to close the week higher than it started after gapping down on Monday, but still edged lower on the whole for the week; shedding 2.24 points, or 0.20%, to 1,117.85.

In the States, the Dow Jones Industrial Average exploded with five straight green days; rising 307.41 points, or 2.18%, to 14,397.07.

The much-broader S&P 500 has now closed higher in nine of the last 10 weeks; adding 32.98 points, or 2.17%, to close at 1,551.18. The tech-rich NASDAQ Composite topped all percentage gainers; cruising upward by on 74.63 points, or 2.35%, to 3,244.37.

Canadian Economic Data:

* The Ivey Purchasing Managers Index registered a seasonally adjusted 51.1 in February, following a 58.9 reading in January. Readings above 50 indicated expansion in purchasing activity from the previous month.

While still expanding for the month, the pace was slower than economists had predicted. The employment subindex rose from 53.8 to 55.8, but the inventories subindex dove from 54.4 in January to 43.6 in February.

* As most expected, the Bank of Canada kept its benchmark rate on overnight loans between banks at 1 percent where it has been for about 2 -1/2 years now since the financial meltdown. The low rate is meant to inspire investment and economic growth. Bank governor Mark Carney said that he expects inflation to remain low in the near term. The central bank also softened its outlook on any potential interest rate hikes, hinting that they will keep the 1 percent rate longer than it had previously thought.

* Canada’s merchandise exports rose 2.1% in January and imports increased 1.9%. As a result, Canada’s trade deficit with the world narrowed from $332 million in December to $237 million in January.

Exports rose to $39.1 billion, as prices increased 1.3% and volumes were up 0.9%. The main contributors to the monthly gain in exports were crude oil and crude bitumen as well as unwrought precious metals and precious metal alloys. A decline in exports of passenger cars and light trucks partially offset the overall increase. Imports increased to $39.3 billion, almost entirely the result of higher volumes (+1.8%). Imports of energy products contributed the most to the overall increase, followed by metal ores and non-metallic minerals.

* After recording the biggest two-month drop in 24 years, building permits in Canada edged upward by 1.7 percent in January. The advance was still well below economist predictions of a 5.3 percent advance.

A 17.6 percent increase in residential permits – including a 38.0 percent jump in multi-family dwellings – was offset by a 19.2 percent decrease in non-residential permits during the month.

* Statistics Canada reported the the nation added 50,700 new jobs in February, hinting the the country may be trying to build a little bit of momentum in its labor market. The unemployment rate was unchanged at a four-year low of 7.0 percent during the month. After the country lost 22,000 jobs in January, economists were only expecting 8,000 new jobs to be reported for February. Ontario posted the biggest gains, with 35,300 new hires.

* A 27.7 percent jump in multi-family units helped housing starts in February come in higher than expected. Canada Mortgage and Housing Corp. said that housing starts during the month rose to a seasonally adjusted rate of 180,719 for February, following a 158,998 annual pace in January. Although the new numbers were optimistic, 10,965 housing starts in the last month were still down from the 12,247 reported in February 2012.

This week, major economic data will include the New Housing Price Index on Thursday and CREA stats/MLS sales on Friday.

U.S. Economic Data:

* The Institute for Supply Management`s Non-Manufacturing Index unexpectedly rose in February to 56.0 from 55.2 in January, topping economist predictions of a drop to 55.0. Readings over 50 signal expansion in the services sector. February marked the 39th straight month of growth. The Business Activity Index was 56.9% (up from 56.4% in January), the New Orders Index was 58.2% (up from 54.4% in January) and the Employment Index was 57.2% (down from 57.5% in January).

Inventories posted the largest move with a jump from contraction of 47% in January to an expansion mark of 54.0 in February.

* ADP`s Employment Report showed 198,000 new private-sector jobs were added in February, following 192,000 reported in January, beating expectations of only 173,000 new jobs for the month. Further, January`s report was upwardly revised to show that 215,000 new jobs were actually added in that month, lending further credence that the jobs market in the States is strengthening.

* Initial jobless claims stats from the Labor Department supported a growing labor force as well with a drop in first-time claims for the week ended March 2 of 7,000 to a seasonally adjusted 340,000. The four-week moving average, which is closely watched as a barometer of labor trends because it eliminates volatility, fell to 348,750, representing a five-year low for the figure.

* The Labor Department reported the U.S. added 236,000 jobs in February and the unemployment rate dropped to 7.7 percent in February from 7.9 percent in January, hitting the lowest level since December 2008. Economists were anticipating only 170,000 jobs to be added in February and for the unemployment rate to tick down to 7.8 percent.

All of the new jobs came in the private sector while the government cut 10,000 jobs in February.

* Factory orders slid by 2 percent in January, the sharpest drop in five months, following a downwardly revised 1.3 percent increase in December, according to the Commerce Department. Economists were calling for a decrease of 2.2 percent in January. Bookings to factories for transportation equipment, which can be a volatile component, was the main drag. So called “core” orders, which eliminate volatile categories, rose 7.2 percent for January, suggesting that the underlying strength of the manufacturing is still in place.

* In one of the few “duds” in economic data this past week, the U.S.

trade deficit widened in January to a seasonally adjusted $44.4 billion from a revised $38.1 billion in December, according to stats from the Commerce Department. Due entirely to shipping-in more crude and other petroleum products during the month, imports rose by 1.8 percent versus December, while exports declined by 1.2 percent after expanding 2.1 percent in December. Energy was again the main culprit in export deceleration.

This week, data in the States will include Retail Sales on Wednesday; Initial Jobless Claims and the Producer Price Index on Thursday; and the Consumer Price Index, Industrial Production and Consumer Sentiment on Friday.

Technical Penny Stocks to Watch & Company Spotlight Results:

Amongst our “Daily Technical Penny Stocks to Watch,” our biggest mover was NanoViricides Inc. (OTCBB:NNVC), which was posted on March 4 when the stock price was at 50.75 cents. The stock spiked immediately and kept on climbing, hitting a high of 73 cents for 43.8% gains before closing the week at 72 cents for 41.9% gains in four business days! Congratulations to all the technical traders that followed our technical penny stocks to watch feature this week.

————————- 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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