Markets Lose Steam As Investors Fret Foreign Growth In 2013

allpennystocks Newsletter

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http://ymlp247.net/zsGQhg ——————————————————————————– June 2, 2013 Week & Month In Review…

Week In Review For May 27 to May 31, 2013 Canadian Technical Penny Stocks To Watch This Week:

* Angle Energy Inc. (TSX:NGL) * DHX Media Ltd. (TSX:DHX) * Enterprise Group, Inc. (TSX:E) U.S. Technical Penny Stocks To Watch This Week:

* Atlantic Power Corp. (NYSE:AT) * Cytokinetics Inc. (NASDAQ:CYTK) * ReneSola Ltd. (NYSE:SOL) This week on AllPennyStocks.com:

* Article Published, May 28, 2013: Flinders Resources and Other Graphite Miners Move Towards Production (http://www.allpennystocks.com/aps_ca/special-reports/350/flinders-resources-and-other-graphite-miners-move-towards-production.htm) (CDN & U.S. Companies) * Article Published, May 29, 2013: Quick-Med Technologies Gets FDA Clearance for Stay Fresh in Skinfold Management (http://www.allpennystocks.com/aps_us/special-reports/360/quick-med-technologies-gets-fda-clearance-for-stay-fresh-in-skinfold-management.htm) (U.S. Company) * Article Published, May 31, 2013: Jones Soda and Fiat Partner in 2013 Photo Contest (http://www.allpennystocks.com/aps_us/special-reports/361/jones-soda-and-fiat-partner-in-2013-photo-contest.htm) (U.S. Company) Video charts for the week:

* May 30th Technical Video Chart For PSTI. The Pluristem Therapeutics chart is trying to break a long-term downtrend and hold above a support around $3.05. The MACD and RSI are signaling a shift to bullishness in trend and momentum and if volume increases, the stock could make a nice move. view:

( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/zQYX9KbqXgE ).

* May 30th Technical Video Chart For E:CA. The Enterprise Oilfields Group chart is in a solid uptrend in 2013 and has pulled back to a support around 53 cents after making a new high at 68 cents. Traders should be watching for the support to hold and for signs of buying pressure that may signal the next leg of the uptrend is starting.

view:

( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/WNVuB7qMyAQ ).

Featured Link: Try the AllPennyStocks.com Pro newsletter free for 30 days. May was a solid month for Pro members, with our last pick rising 46%in less than two days. Including that pick, May’s maximum percentage gain was 60%. Members receive exclusive penny stock picks with specific buy / sell calls, monthly commodity and indices analysis allowing you to be the first to know what direction the markets will be heading as well as special reports and ad-free viewing of AllPennyStocks.com. Take advantage of our limited-time pricing, currently at about $8 a month ($99 a year). A $1,000 investment in May could have netted you $460 profit just on our last trade idea, or over four years of Pro membership fees. We pick the winners, you make the money! Click here: ( http://www.allpennystocks.com/allpennypro/register.aspx ) to start your free 30 day trial.

WEEKLY & MONTHLY UPDATE -MARKETS LOSE STEAM AS INVESTORS FRET FOREIGN GROWTH IN 2013 In a week that traders took Monday off to celebrate Memorial Day on Monday, volatility increased with the VIX, or so-called “fear index” closing at its highest level in 2013 on a weekly basis. The VIX jumped 16.5 percent to a 16.3 reading, although still far below the 89 level as the markets collapsed in late 2008 and average levels over the past five years. The four biggest of the indexes we track, the Dow Jones, S&P 500, Nasdaq and Canada`s TSX Composite all dropped off last week as investors sifted through a mixed bag of economic data.

Somewhat surprisingly, the smaller TSX-Venture exchange logged its second winning week in a row to be the only major index we follow to record a gain.

The shortened trading week started strong as investors embraced economic data showing that consumer confidence swelled in May and the housing market continued to rebound as the Dow notched its 20th straight winning Tuesday. Optimism quickly faded throughout the week as broad news smacked traders with a reality check about the outlook of global growth.

In North America, the US Commerce Department tightened its original estimate of gross domestic product in the first quarter, saying the nation expanded by 2.4 percent, rather than the 2.5 percent it reported in April. The lower GDP figure was not drastic, but it did bring to light economists` commentary that the impact of the sequester, a series of budget cuts and tax increases implemented in Q1, may cause economic growth to stumble in the second quarter.

Manufacturing data showed a bit of an improvement, although still at a very slow pace.

Actions of the US Federal Reserve to stimulate the economy also remained in focus as investors mull how long the Fed will continue its epic $85-billion-per-month in purchases of Treasuries and mortgage-backed securities as well as keeping benchmark interest rates at historic lows. There has been plenty of talk, including comments from Fed Chairman Ben Bernanke, that the easing efforts will be maintained for now, but could be tapered as soon as bankers are confident that the economy is strong enough to handle ceasing the campaign.

Canadians are dealing with their own concerns about economic policy as now-former Bank of Canada governor Mark Carney heads across the ocean to run the Bank of England. The bank last week maintained its key interest rate at 1 percent and effectively sent the message that it will remain there until well into 2014, signaling the bank`s dovish outlook for growth in the next year. Canada`s economy expanded by 2.5 percent in the first quarter, topping all expectations, but also spurred concerns that the pace is not going to be sustained throughout 2013.

A portion of concerns about sustainability stemmed from overseas. The International Monetary Fund slashed its growth forecast for China on Wednesday, saying it now sees growth of 7.75 percent in 2013 compared to the 8.0 percent its projected earlier this year. The IMF said that the world`s second biggest economy should reign-in the mushrooming of credit and combat income inequality. The commentary is somewhat akin to lending and investing practices in the US that led to the Great Recession five years ago. The weaker outlook by the IMF follows downgrades from other firms like the Bank of America, Fitch Ratings and Standard Chartered that in recent weeks dropped the opinion on China.

Further, the Organization for Economic Cooperation and Development, or OECD, cut its outlook for the euro zone. The organization said the European Central Bank needs to take more extreme actions to fight the recession and record unemployment as it lowered its outlook to a 0.6 percent contraction for 2013 from its original estimate of a 0.1 percent contraction. The IMF is calling for a 0.3 percent contraction, the ECB sees a 0.5 percent decline and the European Commission sees a 0.4 percent drop in GDP. Add it all up and it doesn`t look like the euro zone will be exiting a recession any time soon that has already been ongoing for 18 months.

The OECD forecasts Canada`s growth at 1.4 percent in 2013 and the US to expand by 1.9 percent; not exactly lending to expecting much in the second half of the year.

The markets have been steadily rising on sky-high economic optimism built largely on the economic stimulus package of the US Federal Reserve. The fact that the Fed may pull back on its efforts has the markets spooked, quickly sucking the bullish momentum from Wall Street and sending volatility back on the climb. A major piece of economic data is coming from the US and Canada next week: the unemployment rate. From both countries it comes late in the week, meaning that it`s hard to gauge what may be coming early on. Some bearishness certainly set in on Friday, so caution very well may be exercised to start this week to kick-off the second half of 2013.

Although moods may have been dampened to end May, it was still another solid month on the whole with the major US indexes all advancing, keeping the 2013 monthly winning streak going. The TSX Composite reversed the trend by rising after two straight down months. (Read more on the month below.) The Canadian dollar fell to its lowest level in one year against the US dollar as investors seemingly placed bets that the US economy is going to grow faster than the Canadian economy and the US Federal Reserve will peel-back on its stimulus package. The weekly decline made it a clean sweep for the US in May with the loonie losing value in four straight weeks now. The greenback was by large strong all month against the world with the ICE dollar index, which measures the USD against six major global currencies, including the CDN dollar, gaining 1.86 percent on the month and hit its highest level since July 2010. A Friday drop in commodities, key influencers in the Canadian economy, dug the loonie 0.8 percent lower to evaporate what would have been a weekly gain. On the week, Canada`s dollar shed 0.52%, or $0.003675 against the USD, meaning next week will begin with one Canadian dollar buying US$0.96403. For the month of May, the US dollar gained 3 percent on the Canadian dollar.

Commodity Snapshot:

* Gold futures came out soft to start the week as it continued its consolidative path, but a weakening dollar mid-week helped bullion recover early week losses with strong performances on Wednesday and Thursday. Despite high demand, gold prices have been underpinned by speculation that the Federal Reserve will end its monetary easing efforts, which will detract from any allure of gold as an inflation hedge. The downward revision of Q1 GDP in the US and increasing jobless claims helped bolster appetite for gold until a Friday sell-off as decent economic data again strengthened the USD. August contracts were the most actively traded for the week, edging up $6.40 per ounce, or 0.46%, to $1,393.00. On the month, gold languished for the second straight time, and seventh time in the past eight months, with spot gold falling 5.94 percent, or $87.70.

* Silver futures rose to a one-week high on Thursday on the back of the GDP and job market news, but skidded into the weekend as part of a broad commodities sell-off on Friday to land right down near a $22 support level again. Silver also benefited on Thursday from the USD dropping to three-week lows against the yen and a strengthening euro.

When the dollar is down, commodities like silver and gold that are priced in US dollars are more attractive to users of foreign currencies. July contracts for silver were the most actively traded, slipping lower by $0.253, or 1.12 percent, to $22.243 per ounce.

During May, spot silver prices fell for the fourth straight month, depreciating by 8.42 percent, or $2.05 per ounce.

* Copper futures were rangebound last week, essentially stuck between $3.25 and $3.32 per pound as investors mulled a mixed bag of economic data that neither supported or deflated sentiment about increases in manufacturing activity. The work stoppage due to a tunnel collapse at Freeport-McMoran Copper and Gold`s massive mine in Indonesia contributed some upward pressure as analysts postulated that workers will refuse to resume work. July contracts were the most actively traded on New York`s COMEX exchange during the week; nudging lower by only three-tenths of a penny, or 0.09%, to $3.2925 per pound. For all of May, spot copper reversed its course of three-months in the red, growing by 2.43 percent, or 7.8 cents.

* Oil futures continued to trade with volatility daily as investors assessed several pieces of information, including the OECD`s decision to cut global economic growth forecast, the IMF lowering its expectations of China`s growth and OPEC maintaining its oil production target considering rising output from the US. Helping boost the black gold was a report showing that US gasoline stockpiles dropped almost 1.6 million barrels two weeks ago, nearly twice as much as analysts expected. On the flip side, the Energy Information Administration said crude oil inventories rose by 3 million barrels, stemming any supply concerns and sending oil near a one-month low. July contracts for West Texas Intermediate crude were the most actively traded; falling $2.18, or 2.32%, to $91.97 per barrel. During May, spot prices for WTI crude were off by $1.35, or 1.45 percent.

Equity Market Snapshot:

(All percentages on a weekly basis unless otherwise noted) * Major gold miners were strong performers for a second straight week. Barrick Gold (TSX:ABX, +10.61%), Agnico-Eagle Mines (TSX:AEM, +13.70%), Goldcorp (TSX:G, +11.08%), Yamana Gold (TSX:YRI, +9.20%), Kinross Gold (TSX:K, +13.33%) and Newmont Mining (TSX:NMC, +7.46%) all posted solid gains.

* Barrick rose even after news that Chile is imposing a $16 million fine and demanding certain conditions to be met before the company can re-start construction at its Pascua-Lama mine.

* Major energy plays were mixed with a volatile week in oil.

Talisman Energy (NYSE:TLM, +0.26%), Imperial Oil Ltd. (NYSE:IMO, +0.64%) and Cenovus Energy (NYSE:CVE, +0.64%) advanced, while Suncor Energy (NYSE:SU, -1.44%), Exxon Mobil (NYSE:XOM, -1.16%) and Canadian Natural Resources (NYSE:CNQ, -1.19%) slipped lower. XLE, the Energy Select Sector SPDR, fell by 1.48% for the week, it`s second straight down week.

* The biggest of banks in the US were mostly ahead as traders still ponder the length of the Fed`s stimulus policy. Goldman Sachs Group (NYSE:GS, +2.44%), Wells Fargo & Co. (NYSE:WFC, +0.77%), Citigroup (NYSE:C, +2.91%), Bank of America (NYSE:BAC, +3.17%) and JPMorgan Chase (NYSE:JPM, +1.73%) rose, but UBS AG (NYSE:UBS,-2.45%) couldn`t make the clean sweep and slid in value. XLF (NYSE:XLF, +0.56%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, eked a bit higher.

* Canada`s biggest banks underperformed their US counterparts as investors worried first-quarter expansion won`t be sustained in 2013.

Toronto-Dominion Bank (TSX:TD, +0.60%) inched up, but Canadian Imperial Bank of Commerce (TSX:CM, -2.21%), Bank of Nova Scotia (TSX:BNS, -0.51%), Bank of Montreal (TSX:BMO, -2.91%), National Bank of Canada (TSX:NA, -0.95%) and Royal Bank of Canada (TSX:RY, -3.15%) all lost value.

* Scotiabank`s adjusted earnings came in at $1.24 per share, two cents short of analyst estimates, as revenue rose to $1.6 billion from $1.46 billion a year earlier. The net profit amounted to $1.23 per share, up from $1.15 per share a year earlier.

* Royal Bank earned $1.9 billion in the second quarter, up 26 percent from the year earlier period. Adjusted profits totaled $1.31 per share, essentially in line with (or just a hair shy of) analyst expectations.

* CIBC topped expectations with an 8 percent improvement in second-quarter profit of $876 million, or $2.12 per share. The big bank also boosted its quarterly dividend by 2 cents to 96 cents per share. With the CIBC report, all six big banks in Canada reported higher profits compared to the year ago quarter.

* In some big merger news on Wall and Bay Streets, Valeant Pharmaceuticals (TSX:VRX, +9.62%, NYSE:VRX, +7.87%) said that it will be spending $8.7 billion in cash to acquire eye care product maker Bausch & Lomb from private equity firm Warburg Pincus. Toronto listed shares of VRX made an all-time high of $99.49 following the announcement.

* British drug maker AstraZeneca (NYSE:AZN, -1.76%) announced a smaller deal, reporting that it will acquire Omthera Pharmaceuticals (NASDAQ:OMTH, +93.94%) for $12.70 per share. In the deal, which has an enterprise value of about $323 million, shareholders of OMTH will receive Contingent Value Rights of up to $4.70 per share if specific milestones are met regarding the development of Omthera`s Epanova product candidate, bring the total deal value up to $443 million.

* Service Corporation (NYSE:SCI, +0.90%), which provides deathcare products and services, announced its intentions to buy rival funeral business company Stewart Enterprises (NASDAQ:STEI, +32.52%) for $1.4 billion. Investors will be looking for approval by regulators to allow the two majors in the death business to combine forces.

* Strong sales overseas helped jewelry retailer Tiffany & Co.

(NYSE:TIF, +2.06%) post a 2.5 percent rise in first-quarter profits.

Tiffany reported earnings of $83.6 million, or 65 cents per share, compared to $81.5 million, or 64 cents per share, in last year`s quarter. Adjusted profits, which exclude special one-time items, rose to 70 cents per share, easily topping the 52 cents per share expected by analysts. Revenue rose 9.3 percent to $895.5 million, also beating expectations of $855 million.

* Fellow high-end retailer Michael Kors (NYSE:KORS) crushed analyst expectations by reporting fourth-quarter earnings of $101.1 million, or 50 cents per share, compared to only $43.6 million, or 22 cents per share, in the year earlier quarter. Sales rose from $380 million to $597.2 million. Analysts were calling for EPS of 39 cents on revenue of $525 million.

* Shares of Wi-LAN, Inc. (TSX:WIN, +3.52%) rose as the wireless technology and licensing company agreed to settle a patent dispute with Dell, Inc. (NYSE:DELL, +0.11%). Details of the agreement were disclosed, but Wi-LAN said that Dell obtained a license to a subset of wireless patents for specific products.

* The complicated battle for Sprint Nextel Corp. (NYSE:S, -0.41%) between Dish Network (NASDAQ:DISH, -2.01%) and Japan`s SoftBank took another turn with Dish upping its offer for Clearwire Corp.

(NASDAQ:CLWR, +30.99%) to $4.40 per share. Sprint is the majority owner of Clearwire.

* Nike, Inc. (NYSE:NKE, -1.47%) said that it will stop making Livestrong brand products – a line of apparel and those little yellow, rubber wristbands – after its Holiday 2013 line. With the decision, Nike has severed its final official tie with the Livestrong Foundation following the doping scandal last year that stripped Lance Armstrong of his 7 Tour De France titles and banned the disgraced cyclist for life from sanctioned events.

* Upscale grocery store operator Fresh Market Inc. (NASDAQ:TFM, +7.46%) posted a first-quarter profit of $22.1 million, or 46 cents per share, up from $19.3 million, or 40 cents per share, topping analysts predictions of 44 cents per share. Sales, at $366.6 million, were a bit short of $371 million expectations. The company backed its full year outlook and raised its same-store-sales forecast by 0.5 percent to a range of 2.5 percent to 4.5 percent.

* Domtar, Inc. (TSX:UFS, +7.24%) expanded its personal care products line by agreeing to buy diaper maker Associated Hygienic Products from DSG International for $272 million in cash.

* Jeans maker Guess Inc. (NYSE:GES, +7.55%) posted a 63 percent fall in first-quarter profits, but still flew past expectations. The company posted adjusted earnings of $11.7 million, or 14 cents per share, versus $26.65 million, or 30 cents per share, in the year prior quarter on a 5 percent drop in revenue to $548.9 million. Wall Street expected EPS of 8 cents per share on sales of $549 million.

* S&P 500 member Edwards Lifesciences (NYSE:EW, +1.42%) reported that the US FDA found several problems at its Draper, Utah facility that manufactures cardiac surgery systems. The FDA said it won`t approve any devices that could be affected by the issues until resolved.

Edwards is reportedly working to resolve the problems and said that the FDA warning won`t have any material impact on its 2013 forecast.

* Electric car maker Tesla Motors (NASDAQ:TSLA, +0.70%) hit a new all-time high of $114.90 as investors continued to recognize increasing global demand for electric vehicles. The stock price has risen in 11 straight weeks, although it pulled back from highs as traders began to wonder about the stock potentially being overheated with the rapid rise.

* SNC-Lavalin Group (TSX:SNC, +0.10%) said that it is offering a limited time amnesty offer to staffers wishing to disclose information related to the company undergoing investigation for alleged fraud and corrupt business practices. The whistleblower offer is not extended to the office of the company`s president, management committee groups or anyone else who directly profited from illegal activity.

* Shares of Smithfied Foods Inc. (NYSE:SFD, +27.13%) soared after the company agreed to be bought by Chinese meat producer Shuanghui Group for about $4.8 billion, or $34 per share.

* Fidelity National Financial (NYSE:FNF, +0.50%) agreed to buy Lender Processing Services (NYSE:LPS, +0.61%) for approximately $2.9 billion in a cash and stock deal that would bring LPS back under the umbrella of FNF. Per the agreement, Fidelity will pay $33.25 per share for Lender Processing (50% in cash and 50% in stock), a 1.1 percent premium to the prior day`s closing price.

* Shares of Netflix, Inc. (NASDAQ:NFLX, -1.09%) slipped for the second straight week as it announced the streaming video service is joining the Nasdaq 100 on June 6. The company was in focus heading into the week as the heavily-anticipated debut of hit show “Arrested Development” was made on Netflix over the Memorial Day weekend.

* The Ontario Superior Court approved the proposal of Telus Corp.

(TSX:T, -2.88%) to buy smaller rival Moblicity for $380 million. The deal is still under review by Industry Minister Christian Paradis.

Weekly Indices Results:

The S&P TSX Composite Index snapped its five-week winning streak, dropping by 16.80 points, or 0.13%, to 12,650.42. The TSX-Venture Composite Index climbed for the second straight week, advancing 14.09 points, or 1.49%, to 962.41.

In the States, the Dow Jones Industrial Average closed at three-week lows, carving off 187.53 points, or 1.23%, to 15,115.57. The much-broader S&P 500 tracked the Dow; fading 18.86 points, or 1.14%, to close at 1,630.74. The tech-rich NASDAQ Composite was lower for the second consecutive week; losing 3.23 points, or 0.09%, to 3,455.91.

Canadian Economic Data:

* As expected by most, the Bank of Canada kept its benchmark interest rate unchanged at 1 percent for the 32nd consecutive month. It was the final interest rate decision under the guidance of governor Mark Carney, whom assumed the role of leader of the Bank of England on June 1. The meeting had a hawkish tone as the main bank says it wants to raise borrowing rates as soon as possible.

* Statistics Canada reported that the Industrial Product Price Index surprisingly declined 0.8 percent in April, led by lower prices for petroleum and coal products. The IPPI posted the first decrease since November 2012, as most commodity groups were down. It was the largest decline since December 2011. Of the 21 major commodity groups, 14 were down, 3 were up, and 4 were unchanged. The largest contributor to the decline of the IPPI in April was petroleum and coal products (-3.0%), which fell largely because of lower prices for fuel oil and other fuels (-4.7%), specifically diesel fuel (-4.9%), as well as gasoline (-3.6%).

* At the same time, Stats Can said that the Raw Materials Price Index fell 2.2 percent, mostly because of decreased prices for crude oil.

It was the largest monthly decline since June 2012. All major product groups except one were down or unchanged. The decrease of the RMPI was primarily due to mineral fuels (-2.5%), particularly crude oil (-2.8%), which fell for a second straight month. Non-ferrous metals (-4.7%) also contributed to the decrease of the RMPI in April, mainly as a result of lower prices for copper concentrates (-8.0%). Precious metals (-6.8%), zinc concentrates (-3.1%) and other non-ferrous base metals (-3.3%) were also down.

* Thanks largely to rising exports and higher non-manufacturing spending, Canada`s economy expanded more than predicted in the first quarter with 2.5 percent growth in annualized terms versus the 2.3 percent economists expected and 1.5 percent growth forecast in April by the Bank of Canada. It was the largest quarterly expansion since the third quarter of 2011. Meanwhile, GDP for the fourth quarter was upwardly revised from an original 0.6 percent growth to 0.9 percent.

This week, major economic data will include International Trade on Tuesday; Building Permits on Wednesday; Ivey PMI on Thursday; and the latest Unemployment Rate on Friday.

U.S. Economic Data:

* The Commerce Department reported that personal income declined in April by $5.6 billion, less than 0.1 percent, while disposable personal income dropped $16.1 billion, or 0.1 percent. Personal consumption expenditures, or “consumer spending” as it`s called, was down $20.5 billion, or 0.2 percent, outpacing the 0.1 percent decline that economists expected. Consumer spending, which is watched closely because it makes up about 70 percent of all economic activity, had risen each month in 2013, including a 0.8 percent surge in February.

* The cost of homes soared in March, according to the S&P/Case-Shiller Home Price Index, which showed prices rose 10.9 percent compared to the year earlier month. It was the fastest monthly increase since April 2006 and followed a 9.35 percent rise in February. On a month-over-month basis, property prices were up 1.12 percent, topping expectations of a 1.0 percent rise. Phoenix had the largest year-over-year increase with prices, swelling by a whopping 22.5 percent, although trailed closely by a 22.2 percent rise in San Francisco markets.

* The Dallas Federal Reserve said that business activity for Texas-area manufacturers is getting a little better in May – although still weak – following a sharp drop in April. The Fed`s general business activity index improved to a -10.5 reading in May from -15.6 in April. Readings below 0 indicate contraction in the manufacturing sector, while above-zero levels signal expansion. New orders helped boost May`s figure, increasing to 6.2 from -4.9 in the month prior.

* The Commerce Department lowered its first-quarter GDP figure from an original expansion of 2.5 percent to 2.4 percent as additional data revealed lower government spending and lower inventory levels created stronger headwinds than first thought. Economists were expecting the rate to stay unchanged. Government spending, which was slashed as part of the so-called sequester, was down by 4.9 percent in Q1, more than the 4.1 percent previously reported as governments at all levels tightened their purse strings. On the bright side, consumer spending was upwardly revised by 0.2 percent to show 3.4 percent growth.

* The weekly report on initial jobless claims by the Labor Department showed an unexpected jump to 354,000 claims in the week ended May 25 from an upwardly revised 344,000 the week prior. Economists were expecting claims to stay around the 340,000 initially reported for the week earlier. The four-week moving average, a less volatile measure of labor trends, rose by 6,750 claims to 347,500. That`s just below the 350,000 mark that economists say is indicative of a modestly growing jobs market.

This week, data in the States will include the ISM Manufacturing Index on Monday; International Trade info on Tuesday; Initial Jobless Claims on Thursday and the Employment Situation on Friday.

Technical Penny Stocks to Watch & Company Spotlight Results:

Amongst our “Daily Technical Penny Stocks to Watch,” our biggest mover was Enterprise Group Inc. (TSX:E) which was selected on Wednesday when the stock price was $0.5412. The chart had been consolidating since a recent high at 68 cents and took off immediately after our selection to hit a high of $0.66 on both Thursday and Friday for gains of 21.95 percent before closing the week at 65 cents, holding the vast majority of the move.

The Month at a Glance – May May wound down with some soft sentiment towards the second half of the year, but it was another strong month nonetheless for equities. The Dow Jones rose for the sixth straight month and is up more than 16 percent in 2013. The broader S&P 500 one-betters the Dow with seven straight green months, but a smaller gain in 2013 of around 14.5 percent. The Nasdaq, which has a seven-month winning streak also, is ahead about 14.3 percent this year. Another weak month for gold, silver and oil certainly didn`t help the resource-heavy Canadian exchanges, but some technical bounces as investors took positions in deeply discounted companies did; guiding the TSX Composite upward.

The main Toronto index is up about 1.75 percent in 2013, thanks to a 1.6 percent rise in May.

The month featured the Dow hitting an all-time intraday high of 15,542.20 and the S&P 500 setting a new intraday record at 1,687.18.

Some conflicting economic data did little to impact the markets as investors took the attitude of good news showing strength in the US economy as a reason for the markets to rise and soft data as a reason for the Federal Reserve to continue its massive quantitative easing efforts – another reason for the markets to rise. Wall Street got good news that the US created 165,000 new jobs in April, nearly doubling the original estimate for jobs creation in March and driving the unemployment rate down to a four-year low of 7.5 percent. At the same time upward revisions of new jobs in February and March were delivered, further boosting optimism about the nation`s labor situation. However, a spike in jobless claims in mid-May, benign inflation and a slow-moving manufacturing sector continue to serve as reminders to curb enthusiasm.

Economists are closely monitoring gross domestic product and the unemployment rate, the two broadest measures of the health of the nation, as the Federal Reserve is, in part, basing its decision to potentially slow its stimulus efforts on these readings. Investors have by large seen the US economy improving despite sequester tax cuts and increasing payroll taxes, lending support to the idea of trimming quantitative easing and adding to appetite for equities. Several senior officials at branches of the Federal Reserve, including Philadelphia`s Charles Plosser, have chimed-in saying it`s time to consider slowing the easing policies. The rise in the markets have been largely attributed to QE3, though, raising a red flag about a possible disconnect between the real strength of the economy and the lofty levels of blue chip stocks.

The first three months of the year saw some wild swings in employment in Canada, but things flattened in April with 12,500 new jobs being added, matching economist predictions and holding the unemployment rate at 7.2 percent. As mentioned above, the month featured the country bidding adieu to Bank of Canada governor Mark Carney as he takes his new position in England. Economists and investors will now start focusing on any moves from new BofC governor Stephen Poloz for any potential policy changes. Poloz has a strong background in the export business, so economists are wondering if he is going to do anything to try and bolster the value of the Canadian dollar, which could hurt exports and the manufacturing sector.

Economic information aside, the markets also got a boost from another productive earnings season. About 67 percent of the S&P 500-listed companies topped analyst earnings expectations from the first quarter and only about 24 percent coming up short.

Overseas, China was again a big influencer. The nation managed to swing back to a trade surplus in April after surprisingly falling into a trade deficit in March, a well-received bit of information signaling business was picking up in the country. However, many other tidbits of info were short of expectations. Industrial production in April improved by 9.3 percent compared to April 2012, less than the 9.5 percent expected. Retail sales grew by 12.8 percent, shy of the 14.5 percent growth predictions. the HSBC purchasing managers` index fell into contraction territory at 49.6 for May, marking the lowest reading in seven months and spurring concerns that the economy is stalling.

The European Union held its path of a deepening recession in the first quarter as GDP fell by 0.2 percent in the 17-member euro zone and 0.1 percent in the broader 27-member EU, according to the first estimate of the quarter from Eurostat, the official statistical office of the European Union. Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 1.0% in the euro zone and by 0.7% in the EU27 in the first quarter of 2013, after -0.9% and -0.6% respectively in the previous quarter. Mighty Germany recorded only 0.1 percent growth compared to Q4, which had posted contraction of 0.7 percent versus Q3 2012. Lithuania posted the best growth compared to the prior quarter with an 1.3 percent increase, following 0.7 percent expansion in Q4. France reported a 0.2 percent decline in GDP in Q1, marking the second straight quarter of contraction, technically putting the country back into a recession.

Japan was a global GDP bright spot as it easily beat expectations of 0.7 percent growth in the first quarter with 0.9 percent expansion on improved exports and household consumption. The growth tripled the level of expansion in the fourth quarter and reinforced the country`s brash policies to stimulate its economy that have been incorporated under the new guidance of Prime Minister Shinzo Abe.

Meanwhile banks around the world were slashing interest rates to try and poke their economies. Australia`s central bank surprised by cutting its key interest rates by 25 basis points, which sent the Australian dollar lower. The National Bank of Poland lowered its interest rates by 25 basis points, taking their annual reference rate to 3 percent and deposit rate at 1.5 percent. Not to be left out, the Bank of Korea cut its key interest rate from 2.75 percent to 2.5 percent, surprising economists that thought the central bank would hold the rate where it had been since October.

May was another month of stimulus efforts worldwide being the primary focus. It almost feels strange to remember what drove markets before quantitative easing was put into effect years ago. As the second half of 2013 is gets underway, it seems likely that not much is going to change on that front as Big Ben and his Band of Bankers in the US delineate a path to winding-down Treasury and asset purchases.

Monthly Indices Results:

* S&P TSX Composite: up 1.56% (+193.92 pts.) * TSX-Venture: down 0.35% (-3.39 pts.) * Dow Jones Industrial Average: up 1.86% (+275.77 pts.) * S&P 500: up 2.08% (+33.17 pts.) * NASDAQ: up 3.82% (+127.12 pts.) Monthly Equity Market Snapshot:

(All percentages on a monthly basis unless otherwise noted) * Canadian-listed gold plays found some strength in May. Barrick Gold (TSX:ABX, +9.67%) ended a four-month slide, Goldcorp (TSX:G, +3.36%) rose for only the second time in seven months, Kinross (TSX:K, +23.86%) had a great month to rise from lows and Newmont (TSX:NMC, +6.53%) advanced after big losses in April.

* It was another month of a frenzy of mergers and acquisitions.

Computer security software company McAfee Inc., a wholly owned subsidiary of Intel Corporation (NASDAQ:INTC, +2.33%), said it would spend $389 million to acquire Finland-based Stonesoft Oyj, a maker of next-generation network firewall products. Stonesoft has more than 6,500 customers globally, comprised of governments, retailers and more. Stonesoft, which trades on the Helsinki exchange, closed trading the prior Friday at 1.97 euros. The McAfee offer puts a value of 4.50 euros per share, representing a 128 percent premium.

* Yahoo Inc. (NASDAQ:YHOO, 6.35%) shares got a lift after its properties in Asia, Alibaba and Yahoo Japan, showed strong year-over-year growth. Alibaba, in which Yahoo holds a 24-percent stake, reported that its profits nearly tripled to $642 million.

Rumors have been swirling that Alibaba is planning to go public, which is expected to result in huge gains for Yahoo. Yahoo Japan, in which Yahoo owns 35 percent, notched a 13 percent rise in profit in 2012.

Yahoo also said that it is spending about $1.1 billion in cash to buy the popular blogging website Tumblr. Further, Yahoo re-vamped its photo-sharing website Flickr, giving each user one terabyte of free storage, eliminating Flickr Pro and making photos more dominant on the home page, amongst other things.

* Shares of Apple Inc. (NASDAQ:AAPL, +2.24%) continued to hold a base of about $420 per share in a month that featured CEO Tim Cook defending the company`s tax practices at a Senate hearing. Apple has been accused of avoiding taxes on billions of dollars in overseas revenue in the last four years. Cook said that Apple has done nothing wrong and has paid what it legally owes on “every single dollar.” * Facebook (NASDAQ:FB, -12.32%) shares stumbled as the social media giant celebrated its one-year anniversary as a public company. After one of the most highly anticipated IPO`s ever on May 18, 2012, the social network company has been a major disappointment to most as the worst performer on the Nasdaq 100 since that date. FB went public at $38.00 per share and ended May about 36 percent below that price.

* Electronic Arts Inc. (NYSE:EA, 30.55%) signed a multi-year exclusive licensing deal with Walt Disney Co. (NYSE:DIS, +0.38%) to develop and publish new “Star Wars” video games. The games were previously made at the LucasArts video game studio, which Disney gained control of in 2012 when it paid over $4 billion to buy Lucasfilm. Last month Disney shuttered the studio. EA will now work with BioWare to develop new games under the Star Wars brand.

* Google, Inc. (NASDAQ: GOOG, +5.66%) rose above $900 per share for the first time in the company`s history during May as the company unveiled a paid subscription music-streaming service with reports that the search and operating system giant has deals in place to offer music libraries of Universal Music Group, Sony Music Entertainment and Warner Music Group.

* Air Canada (TSX;AC.B, -31.67%) shares had a rough month as the company said it is aiming to reduce expenses by $50 million in the second quarter by starting a hiring freeze, cutting consultant use and aggressively looking for savings in its supply chains. CEO Calin Rovinsescu was the subject of scrutiny for Air Canada`s unions when it was reported that Rovinescu earned more than $9.5 million in 2012.

* After reporting its first ever quarterly profit, shares of Tesla Motors (NASDAQ:TSLA, +81.07%) hit record highs. The EV maker said it raised $968 million in a secondary offering of common stock and convertible notes. Founder and chairman Elon Musk personally bought $100 million worth of shares.

* Goldman Sachs (NYSE:GS, +11.31%) said that it still sees substantial upside in the S&P 500 in the second half of the year, raising its year-end target to 1,750 for the index.

* Shares of teen apparel retailer rue21, Inc. (NASDAQ:RUE, +31.63%) jumped after entering into a definitive agreement to be acquired by private equity firm Apax Partners for approximately $1.1 billion in cash. Per the agreement, funds advising New York-based Apax will buy all the outstanding shares of rue21 for $42.00 per share, representing a 23-percent premium to the prior day`s closing price and 42-percent premium to the 90-day volume weighted average price of shares of RUE.

* Manitoba Telecom Services (TSX:MBT, +9.19%) said that it is selling its Allstream business telecommunications to Egyptian investment group Accelero Capital Holdings in a deal worth about $520 million.

* Shares in Barnes & Noble Inc. (NYSE:BKS, +24.10%) jumped after TechCrunch reported that Microsoft (NASDAQ:MSFT, +6.18%) is considering spending $1 billion to buy the remaining portion of Barnes & Noble`s Nook Media digital assets that it doesn`t already own.

Microsoft took a 17-percent stake in Nook in 2012. Neither company commented on a proposed deal.

* Canada`s largest home improvement retailer, Rona Inc. (TSX:RON, -0.38%) said that it has decided not to sell its network of big box stores outside Quebec as it continues to finalize its turnaround plan.

For the latest quarter, Rona reported an adjusted net loss of $22.7 million, or 19 cents per share,, widening a net loss of $13.5 million, or 11 cents per share, in last year`s quarter. Overall revenue was down slightly, slipping by $4.6 million to $929.4 million.

* Stateside, home improvement retailers and home builders demonstrated how the recovering housing markets are helping business.

Home Depot (NYSE:HD, +7.24%) reported an 18 percent rise in first-quarter profits to $1.22 billion, or 83 cents per share, to beat analysts by 6 cents per share. Lowes Companies (NYSE:LOW, +9.60%) notched a bigger monthly gain than its bigger rival, as it recorded a 2.5 percent improvement in profits to $540 million, or 49 cents per share. That was short of analyst expectations of 51 cents per share in earnings. Luxury home builder Toll Brothers (NYSE:TOL, -0.41%) doubled analyst predictions by reporting second-quarter earnings of 14 cents per share, or $24.7 million, sending shares surging at first, although the gains weren`t maintained.

Monthly Penny Stocks To Watch Leaders:

Among our daily technical stocks to watch each day, it was another strong month with 8 of 20 picks rising more than 20 percent. The biggest play for the month was ReneSola Ltd. (NYSE:SOL), which was presented on May 9 when shares were trading at just $1.74 each and looked ready to continue a climb that started in April. The stock price certainly was ready, shooting up to highs of $2.99 over the next two weeks for stellar gains of $1.25 per share, or 71.84 percent.

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