North American Markets Get Whiplash From Volatility, Sell-off Intensifies

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http://ymlp329.net/ztH0rO ——————————————————————————– October 12, 2014 Week In Review…

Week In Review For October 6 to October 10, 2014 Companies Mentioned:

* PositiveID Corp. (OTCQB:PSID) This week on AllPennyStocks.com:

* Article Published, October 7, 2014:ATAC Reports Latest Gold Findings at Rackla Project in Yukon (http://www.allpennystocks.com/aps_ca/special-reports/455/ATAC-Reports-Latest-Gold-Findings-at-Rackla-Project-in-Yukon.htm) (CDN Company) * Article Published, October 8, 2014:American Brewing Company Adding Nearly 900 Locations in Canada (http://www.allpennystocks.com/aps_us/special-reports/477/American-Brewing-Company-Adding-Nearly-900-Locations-in-Canada.htm) (U.S. Company) * Article Published, October 9, 2014:Silver and Gold Production Jumps for Fortuna Silver Mines in Q3 (http://www.allpennystocks.com/aps_ca/special-reports/456/Silver-and-Gold-Production-Jumps-for-Fortuna-Silver-Mines-in-Q3.htm) (CDN / U.S. Company) Video charts for the week:

* October 7th Video Chart for OPTT.The Ocean Power Technologies chart has suffered a big fall from highs in March. The chart is channeling sideways now for two months, potentially setting it up for a bigger move in the near future. view: ( http://www.youtube.com/watchv=ZJNXKr5uRB4 ) * October 7th Video Chart for PHO:CA.The Photon Control chart has climbed more than 50 percent in 2014 as part of a steady uptrend.

Heavy resistance has formed around 55 cents, forming a head and shoulders or triple top pattern that technical traders are wondering it if will break out or reverse course. view: ( http://www.youtube.com/watchv=ITuYAO53zCQ ) ____________________________________________________________________ Featured Link: The World MoneyShow Toronto–October 16-18 Join AllPennyStocks.com at Canada`s “must-attend” investor and trader event of the year! Meet and greet industry icons including Peter Hodson, Larry Berman, David Wyss, Andrew Busch, Dan Gramza, and dozens more, hear mainstream and targeted economic and market analysis, learn professional traders` best strategies, and consider some fascinating new investment possibilities both in North America and around the world! Register free: http://www.moneyshow.com/tradeshow/toronto/world_moneyshow/main.aspscode6686 ____________________________________________________________________ WEEKLY UPDATE – DOW WATCHERS GET WHIPLASH FROM VOLATILITY, TSX-VENTURE CONTINUES TO TAKE MERCILESS BEATING Volatility reigned over North America markets yet again last week, with five more days of triple-digit moves for the Dow Jones Industrial Average. After spiking the previous Friday on an upbeat non-farms payroll report, the Dow swung back and forth to close relatively flat on Monday as traders moved cautiously ahead of the release of the minutes from the latest meeting of the US Federal Open Market Committee on Wednesday. Then the real swings started(swings bolded for clarity).

The Dow slumped 272 points on Tuesday to close near a two-month low as investors digested overseas economic data, braced for Alcoa kicking off earnings season on Wednesday and listened to the International Monetary Fund cutting its global growth forecast for the third time this year. The IMF said it now sees growth of 3.3 percent in 2014 and 3.8 percent in 2015, down from 3.4 percent and 4.0 percent, respectively, that it forecast in July.

Then the markets cheered Fed officials calling for prudence in raising interest rates on Wednesday. The FOMC report showed Fed officials expressing concerns over a strong US dollar and slow global growth that could weigh on expansion for the US economy, as these factors could hamstring exports and constrain inflation. No stark revelations came from the minutes, but it did reiterate a more dovish tone still coming from the Fed as officials once again vowed to keep interest rates low for a “considerable time” after it ends its policy of monthly asset purchases. The main US bank has been tapering its monthly purchases of Treasuries and mortgage-backed securities every month in 2014 and is expected to conclude the purchases after its October meeting. The dovishness sent markets soaring Wednesday, including a 275-point gain for the Dow, the best one-day move of 2014.

Those gains were erased on Thursday with a 335-point Dow nosedive, marking the largest one-day drop in more than a year. Driving forces for Thursday`s carnage included European Central Bank President Mario Draghi calling Europe`s financial woes structural, not cyclical, and only fixable by reformation, not just stimulus. Data from Germany, the European Union`s biggest economy, continued to be weak. Recent data showed German exports sinking to a five-year low, industrial output sharply contracting in August and business confidence at a one-and-a-half year low. Further, billionaire activist investor Carl Icahn disclosed that he started shorting the S&P 500 as he sees a correction definitely coming.

The volatility didn`t stop heading into the weekend, with the Dow swinging more than 230 points from top to bottom before closing near the low of the day with a loss of 115 points. The Dow also closed below its 200 day moving average for the first time since the last trading day of January. The S&P 500 closed less than one point above its 200 DMA, a moving average it hasn`t been below since November 2012. The Toronto markets tagged along with the benchmark US indices, ignoring an optimistic employment report that the country added 74,000 jobs in September. To put that in perspective, that would be akin to a US report showing about three-quarters of a million new jobs in a month. Still, though, the TSX Composite shed more than 230 points on Friday for its lowest close since late March. The smaller TSX-Venture has simply been destroyed lately, closing down in 18 of the last 20 sessions to now rest at its lowest level since March 2009, a time when stocks were just starting to recover after the financial collapse in 2008. Not even rising gold, silver and copper prices (although oil took another hit) helped stem steep losses in the resource-heavy Canadian markets.

The Ebola outbreak isn`t really a market factor per se at this point, but it is certainly worth keeping up to date with. On Wednesday, the Centers for Disease Control and Prevention said it is starting to screen passengers at five US airports that receive over 94 percent of travelers from the Ebola-affected nations of Guinea, Liberia, and Sierra Leone. Screening at New York`s JFK International Airport began yesterday and enhanced entry screening at Washington-Dulles, Newark, Chicago-O`Hare, and Atlanta international airports will be implemented this week. Earlier on Wednesday, Thomas Eric Duncan, the first person diagnosed with Ebola on US soil since the outbreak, died. Nearly 3,800 people in West Africa have died since the Ebola outbreak began a few months ago. On Thursday, reports surfaced that the condition of a nurse’s aide in Spain infected with Ebola had worsened. Also on Thursday, about 200 airline cabin cleaners went on strike at New York`s LaGuardia airport, citing health and safety concerns, including worries about being exposed to Ebola. On Friday, Brazil`s Health Ministry said that a 47-year-old Guinea (West Africa) man was placed in isolation in a hospital in Rio de Janeiro after checking-in to a hospital in Cascavel, Brazil following a trip from Guinea to Morocco to Brazil in what is believed to be the country`s first case of Ebola.

Looking ahead at this upcoming week, economic data picks up in the US as earnings season moves into full swing, presenting plenty of catalysts for market movement. One thing to note is the technical component of the Dow touching its 200 day moving average. In 2014, the Dow has only dipped below or touched its 200 DMA on two other occasions, both of which were followed by large moves upward in subsequent weeks; the last time being in August. Repeated tests of the key moving average are generally not a good thing, so we`ll be watching to see if it can hold strong once again or not.

Forex & Commodity Snapshot:

* The Canadian Dollar made up a bit of ground against the US Dollar, appreciating by 0.33% on the week to US$0.89195.

* December Gold futures were the most actively traded, advancing $30.40 per ounce, or 2.55%, to $1,223.30.

* December Silver futures were the most actively traded, taking back some of the prior weeks losses by gaining 55.9 cents per ounce, or 3.32%, to $17.385.

* December Copper futures were the most actively traded, rising 3.8 cents per pound, or 1.27%, to $3.0365.

* November West Texas Intermediate Crude futures were the most actively traded, losing $4.20 per barrel, or 4.68%, to $85.54.

Equity Market Snapshot:

(All percentages on a weekly basis unless otherwise noted) * Hewlett-Packard (NYSE:HPQ, -4.83%) said it is splitting itself into two public companies. One company will keep the H-P name and focus on PCs, printers (including 3D) and tablets as well as support for those products. The other, to be called Hewlett Packard Enterprises, will build upon HP’s position in servers, storage, networking, converged systems, services and software as well as its OpenStack Helion cloud platform.

* In the same vein, security software maker Symantec Corp.

(NASDAQ:SYMC, -6.17%) plans to split into two separate, publicly traded companies. Symantec said one business will focus on security and the other will focus on information management.

* Hilton Worldwide (NYSE:HLT, -6.37%) has sold its famous Waldorf-Astoria in NYC for $1.95 billion, representing the highest price ever paid for a hotel in the United States. Hilton is still keeping the brand, will be managing the hotel for the next 100 years and is still keeping all its other Waldorf-Astoria locations.

* Actavis (NYSE:ACT, -3.84%) agreed to acquire Durata Therapeutics (NASDAQ:DRTX, +69.74%) for about $675 million to gain control of Durata`s injectable antibiotic Dalvance. Dalvance was approved by the FDA in May for the treatment of drug-resistant acute bacterial skin and skin structure infections.

* Freeport-McMoRan (NYSE:FCX, -4.17%) entered into a definitive agreement to sell its 80% stake in the Candelaria/Ojos del Salado copper mining operations and supporting infrastructure to Lundin Mining (TSX:LUN, -5.99%) for $1.8 billion in cash. The deal also includes a contingent payment of up to $200 million over the next five years if average copper prices top US$4 per pound.

* CareFusion (NYSE:CFN, +23.93%) is being bought by Becton, Dickinson & Co. (NYSE:BDX, +10.39%) for $12.2 billion, creating a giant in medication management and patient safety solutions. Becton, Dickinson sees $250 million in cost savings by merging the companies and expects double-digit earnings growth in the first full year after closing the deal (expected 1H 2015).

* Air Canada (TSX:AC.B, -8.26%) reached a tentative agreement for a new 10-year contract with its pilots` union (Air Canada Pilots Association). The agreement comes 18 months ahead of expiration of the current contract and will accelerate Air Canada`s growth plan, according to the company.

* Shares of GT Advanced Technologies (NASDAQ:GTAT, -92.67%) plunged into oblivion upon a surprise bankruptcy filing. Investors are still in the dark as to why the Apple (NASDAQ:AAPL,+1.11%) partner is seeking the bankruptcy.

* Also on the Apple front, suppliers have pushed back mass production of larger-screen tablets from December to early in 2015 as they scramble to meet demand for the new iPhones, according to the Wall Street Journal. Additionally, Carl Icahn, who owns 53 million shares of AAPL, delivered a letter to CEO Tim Cook saying Apple should buy back more shares now. Icahn thinks the tech behemoth is undervalued, should be worth $203 each based on projected earnings and the company should be repurchasing shares quickly before the market catches up.

* Morgan Stanley (NYSE:MS, -6.02%) analyst Adam Jonas cut its outlook on General Motors` (NYSE:GM, -10.28%) earnings and price target (from $29 to $27), in part because of sluggishness in Europe and Latin America and the company`s plan to reduce the number of platforms it uses to build vehicles. Meanwhile, GM victim fund chief Ken Feinberg said he has certified that 24 people are now eligible for settlements of at least $1 million for deaths directly related to crashes caused by faulty GM ignition switches. The new figure is up from 13 previously reported as the investigation continues.

* Shares of Teck Resources (TSX:TCK.B, -9.81%), one of the world`s biggest exporters of seaborne steel-making coal, sunk to a five-year low after an unexpected announcement by China, the world`s biggest coal importer, to levy tariffs starting October 15 of 3% on anthracite and coking coal imports and 6% on non-coking coal imports. Lower coal prices have already been damaging to Teck`s financial results.

* The Ebola scare has bolstered attention on Lakeland Industries (NASDAQ:LAKE, +125.63%) and Alpha Pro Tech (NASDAQ:APT, +129.32%).

Shares skyrocketed last week for the companies, both of which make protective suits to protect health care workers from the deadly virus (Alpha Pro also makes a particulate face mask).

Weekly Indices Results:

The S&P TSX Composite Index closed red for the sixth straight week, carving off another 562.42 points, or 3.80%, to 14,227.36. The TSX-Venture Composite Index took another drubbing, collapsing by a whopping 55.69 points, or 6.31%, to 827.13.

In the States, the Dow Jones Industrial Average was red for a third straight week, taking off another 465.59 points, or 2.74%, at 16,544.10. The much-broader S&P 500 is threatening to fall below 1,900 after being above 2,000 only three weeks ago, shedding 61.77 points, or 3.14%, to close at 1,906.13. The tech-rich NASDAQ Composite got lumped up even more than its US counterparts, erasing 199.39 points, or 4.45%, to 4,276.24.

Canadian Economic Data:

(All data from Statistics Canada unless otherwise noted) * Western University’s Ivey Purchasing Managers` Index for September came in at 58.6, compared to 50.9 in August, and 51.9 in September 2013. Readings over 50 indicate that companies and governments spent more money on purchases that a month earlier.

September`s reading was the highest in almost a year as the prices component surged the most (from 52.2 to 71.6) since March 2009. Also, the employment subindex rose from 49.5 in August to 53.0, representing its third straight month of improving.

* The total value of building permits issued by Canadian municipalities fell 27.3% to $6.7 billion in August, following three months of double-digit increases. The August decline was mainly the result of lower construction intentions for non-residential buildings in Quebec and residential buildings in Ontario. In the non-residential sector, the total value of building permits decreased 40.6% to $2.5 billion in August, following four consecutive monthly gains. The total value of permits in the residential sector declined 15.9% in August to $4.2 billion, snapping a string of five straight monthly increases.

* The New Housing Price Index rose 0.3% in August, following no change in July. The increase was the largest since January and mainly the result of strong gains in Ontario and Alberta. The combined metropolitan region of Toronto and Oshawa was the top contributor to the August growth, with prices up 0.3% over the previous month. The census metropolitan area of Calgary (+0.5%) recorded the largest monthly price increase in August. Builders reduced prices to stimulate sales in the combined area of Saint John, Fredericton and Moncton as new housing prices fell 0.3%. This was the largest decrease in the area since February 2012. On a year-over-year basis, the NHPI rose 1.5% in August, up slightly from the July increase of 1.4%.

Calgary (+6.8%) and the combined metropolitan region of Toronto and Oshawa (+2.3%) continued to lead the annual growth.

* Canada Mortgage & Housing Corp. said that housing starts rose 0.5 percent to 197,343 units in September, paced by multiple-unit work (condos, apartments, townhouses) increasing 2.4% to 114,579 units.

Groundbreaking last month was essentially in line with analyst expectations. The International Monetary Fund issued commentary in its Global Economic Outlook that the Canadian housing market is overvalued and vulnerable, encouraging vigilance with the market.

* Employment increased by 74,000 in September, nearly all in full-time work. This pushed the unemployment rate down 0.2 percentage points to 6.8%, the lowest since December 2008. In the 12 months to September, employment grew by an average of 13,000 per month, for a total increase of 150,000 (+0.8%). Over the same period, the number of hours worked rose slightly (+0.3%). Provincially, employment rose in Ontario (+25,000), Alberta (+21,000), Saskatchewan (+7,000) as well as Newfoundland and Labrador (+3,800). There was little change in the other provinces. On an industry basis, employment in accommodation and food services increased by 48,000 in September, bringing total gains since September 2013 to 64,000 (+5.7%), followed by health care and social assistance rising by 32,000, bringing employment gains in the industry to 69,000 (+3.2%)since September 2013.

This week, major economic data reports will include CREA Stats/MLS Sales on Wednesday; Canada`s International Transactions in Securities and Monthly Survey of Manufacturing on Thursday; and the Consumer Price Index on Friday.

U.S. Economic Data:

* The Labor Department reported that initial jobless claims, a proxy of weekly layoffs, were basically flat, holding at 287,000 from a revised 288,000 (upwardly revised from 287,000) in the week ended October 4. It was the fourth straight week below 300,000. Economists predicted a rise to 295,000. The four-week moving average, a less volatile measure of labor trends, move down by 7,250 to 287,750, marking the lowest for the one-month average of claims since February 2006.

This week, data in the States will include PPI-FD and Retail Sales on Wednesday; Initial Jobless Claims, Industrial Production and the Philadelphia Fed Survey on Thursday; and Housing Starts on Friday.

Latest Company News:

PositiveID Corporation (OTCQB:PSID) had a much different day than the rest of the market when the stock moved up 55% on Friday after the Company announced that it, in conjunction with its partner, ENSCO, Inc., has been awarded a SenseNet Program contract from the U.S.

Department of the Interior on behalf of the U.S. Department of Homeland Security Science & Technology Directorate. The goal of this SenseNet award is to implement faster, less expensive bio-threat detection systems, using existing infrastructure where possible, to provide an added level of security.

As part of this award, PositiveID will offer its Firefly Dx system, which is a point-of-need system designed to deliver molecular diagnostic results using real-time PCR(polymerase chain reaction) chemistry. Firefly is designed to derive results from a sample in less than 20 minutes at the point of sampling, compared to two to four hours for a lab device, which would enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems, helping to save lives. ENSCO will be responsible for the systems integration and decision support.

“We are pleased to work with ENSCO on this effort for the Department of Homeland Security`s SenseNet program,”stated William J. Caragol, Chairman and CEO of PositiveID. “We believe our Firefly Dx system, coupled with ENSCO`s systems expertise, can provide an ideal solution for the biological detection capabilities that DHS is pursuing.” The stock has had wild gyrations lately but after all is said and done, the stock has really pulled in a strong week and is worthy of continued evaluation. To get more information on PSID, including a full profile on the Company, click here: (http://www.allpennystocks.com/aps_us/company_spotlights/archives/psid.asp).

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