New Record Highs For Dow / S&P 500 As Wacky October Comes To End

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http://ymlp209.net/z3Ij9F ——————————————————————————– November 2, 2014 Week & Month In Review…

Week In Review For October 27 to October 31, 2014 This week on AllPennyStocks.com:

* Article Published, October 29, 2014: Cimetrix Posts a Profitable Quarter in What is Likely Its Last Public Earnings Reports (http://www.allpennystocks.com/aps_us/special-reports/482/Cimetrix-Posts-a-Profitable-Quarter-in-What-is-Likely-Its-Last-Public-Earnings-Reports.htm) (U.S. Company) * Article Published, October 30, 2014: OceanaGold Shares Fall to Eight Month Low on Q3 Report (http://www.allpennystocks.com/aps_ca/special-reports/460/OceanaGold-Shares-Fall-to-Eight-Month-Low-on-Q3-Report.htm) (CDN Company) Video charts for the week:

* October 30th Video Chart for NAVB. The Navidea Biopharmaceuticals chart has slumped from around $2 in June to hit $1.20 in August.

Since, the chart has bounced of $1.20 again in October only to again find resistance just shy of $1.50. A new, higher support seems in place, putting the chart on radar to try and take out the resistance this time around. view: ( http://www.youtube.com/watchv=IqdckOO3vFE ) * October 30th Video Chart for RKN:CA. The Redknee Solutions chart has made a double bottom pattern around $3.15 since sinking from $5.99 early in June. The stock is back on the rise for five straight days and looks to be gaining momentum, putting it on radar to break resistance at $4.05. view: ( http://www.youtube.com/watchv=n_HT3NOihUQ ) _______________________________________________________________ Featured Link: Try the AllPennyStocks.com Pro newsletter / member area free for 14 days. Members receive exclusive Canadian and U.S.

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_______________________________________________________________ WEEKLY UPDATE – NEW RECORD HIGHS FOR DOW AND S&P 500 AS WACKY OCTOBER COMES TO END Some analysts were saying three weeks ago that the big market correction was finally here as the Dow Jones Industrial Average moved into negative territory for 2014 and crashed through its 200 day moving average. Wrong. The markets reversed course and roared back, last week capping the month with strong gains for US equities and leaving the Dow and S&P 500 at new all-time highs. The Dow climbed 3.5% last week alone, concluding a surge that had the index rise 1,540 points (9.7%) from bottom to top in the last 12 days of October. The Nasdaq inched closer to a high set back during the tech boom, ending the week at its highest point since March 2000.

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In Canada, the benchmark TSX Composite had its ups and downs to close ahead thanks to a nice day on Friday, but the smaller Venture exchange continues to get pulverized, wrapping the week at its lowest level since December 2008. The response to economic data from Statistics Canada was mostly muted, including a green close following a report showing the nation`s economy didn`t grow at all in August. The resource-heavy Canadian markets have been facing headwinds from sinking gold, silver and oil prices and a strong US dollar. Gold was punched down last week to its lowest monthly close since June 2010 as silver hit its lowest since February 2010. Spot West Texas Intermediate Crude closed at its lowest monthly price since August 2011.

The week was all about earnings reports and central bank stimulus.

More than 350 of the S&P 500 companies have now reported earnings from the third quarter. Roughly 76 percent have beaten analyst forecasts on profits, handily exceeding the 63-percent average over the last two decades.

As most expected, the US Federal Reserve concluded its policy of monthly asset purchases in October as announced following the latest meeting of the Federal Open Market Committee on Wednesday afternoon.

The Fed had been buying $85 billion per month in Treasuries and mortgage-backed securities from September 2012 through January 2014, when the main bank began scaling back the purchases to finally end the practice by eliminating the last $15 billion per month in October.

The Fed maintained its dovish language on keeping fed funds rate at zero (where its been for six years) for a “considerable time,” saying a rate hike will be decided upon in the future based upon the health of the economy. The Fed said that there has been “substantial improvement” in the outlook for the labor market and that it sees “sufficient underlying strength” in the broad economy. Wall Street didn`t cheer the cessation of asset purchases at first, with a four-day win streak snapped on Wednesday, but after digesting the strength of the economy and an upbeat jobless claims report, the rally continued on Thursday. Judging by the first estimate of GDP for the third quarter, the Fed`s confidence is justified, with the Commerce Department reporting 3.5% expansion in the US`s economy during the July-September quarter.

As the US Fed unwound its asset purchases, the Bank of Japan stepped on the gas with its. The bank`s board voted 5-4 to approve a massive effort to spark its sputtering economy and weaken the yen. The central bank said it is increasing its asset-buying program by as much as 33% to 80 trillion yen (US$723.4 billion) annually, which will include not only government bonds, but also exchange-traded funds and real-estate funds. This means that the BofJ will be purchasing the equivalent of more than 2x the amount of new bonds issued by the government, an unprecedented tactic by any central bank. Further, Japan`s welfare ministry said it was raising its stake in domestic and foreign stocks by more than 10 percentage points each, hoping to boost returns for is quickly growing retired population. The stimulus efforts weighed on metals as the USD surged against a weaker yen, while investors flocked to equities against the backdrop of a strengthening US economy and “whatever it takes”-type of stimulus coming from Europe and Japan.

Momentum has kicked it in gear again as the Dow has closed up (and generally up significantly) in 9 of the last 11 trading sessions.

Earnings season is far from over, but this is shaping up to be the best one in a long time, even though many companies have only had to clear a low bar of expectations. We expect the momentum to continue early in the week, especially if US manufacturing data is strong on Monday, before probably seeing some more cautious, choppy trading as players secure some gains ahead of reports on Friday detailing job creation and unemployment rates for October in the US and Canada.A Few Things to Consider:

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As we mentioned last week, we were looking at the weekly chart of the Russell 2000 (RUT) to see if it could climb its way back over its 50 day moving average (DMA) and with an explosion of almost 5% last week, it did so without skipping a beat. We`re watching RUT because many traders believe it is a leading indicator for the direction of the broad markets. There was also plenty of fear mongering going on when the daily RUT chart dropped a so-called “death cross in September.

The death cross happens when the 50 DMA breaks below the 200 DMA, an obvious sign that the average value of the chart is decreasing. We`re not that worried about that, though. What we are watching is the resistance at 1,213 and RUT struggling to reach that level in September after hitting it twice (March and July) and failing to break through it. With the chart back over the 50 DMA, the much-watched moving average is already starting to flatten and could easily turn upward and move above the 200 DMA again in the coming months. The lower high is something we are more concerned with because if RUT is indeed a barometer for future Dow movement (as the Dow is at a record high) and RUT can`t make a new high, we look for the Dow to start sliding in 2015.

Speaking of death crosses, the Toronto Venture exchange made one in September. The last time this happened was in mid-2011, which did not play out well as the Venture was around 2,000 at that point and has simply collapsed since. There`s not much good that can be said about the Venture chart at this point, as there is little technical support in sight until another drop of about 70 points back down to 700 where support was found at the bottom of the market collapse in late 2008.

We would be stunned if that support level didn`t hold should the Venture sink back to that level, but at this point we do not discount the idea that it`s quite possible 700 is touched. Junior miners, a big part of the Venture, are getting pounded across the board, including Exchange Traded Funds and leveraged play like the Direxion Daily Junior Gold Miners Index Bull 3x Share (JNUG), which hit an all-time low last week. Calling a bottom for these unloved juniors can be extremely difficult, but as they are in oversold territory, we suggest watching for a combination of things to at least get a bounce.

This means eyeballing the bottom support of the Venture, for buying pressure in ETFs and spot gold to hold a support, either in the area of $1,170 (which would mean a near-term bounce) or at the next support at $1,050. We think the latter is more possible as a $100 per ounce drop in gold could coincide with a slow slide in the Venture.

Gold Chart Image: http://www.allpennystocks.com/images/Tech_Analysis_Charts/Spot_Gold_Nov_2_2014.png Take a look at the weekly, 10-year chart of spot gold and you`ll see why we are viewing these two areas of support as key spots to watch.

Gold has bounced off the $1,170 area three times in the last year-and-a-half and it was a support/resistance point back in 2010.

If that fails, it`s likely headed to the $1,050 support. The aforementioned JNUG doesn`t track Venture-listed companies, but if support holds for gold, we just may see a rally in the bull ETFs and the Venture.

Thoughts for the Week – Our 2 Cents on Goldman Sachs and Oil:

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Goldman Sachs made news last week saying it sees Brent crude at $80 a barrel by the summer of 2015 and that West Texas Intermediate crude will sink to $70 in Q2 2015 before stabilizing at $80 per barrel in 2016. The glut of oil related to the shale boom is a double-edged sword basically and Goldman is predicting that energy companies will start to produce less oil and cut-back on investment in the near future because of falling oil prices. It`s coming from a venerable firm like Goldman Sachs, so it has to be spot on, right Wrong.

Goldman analysts have a history of being incorrect and then changing horses in midstream, so while some things seem obvious related to the shale boom the US playing a big part in easily meeting demand, we don`t simply accept their forecast as gospel.

Goldman missed by a mile with its prediction in 2008 that oil around $125 would rise to $200 in the next year, when what really happened was a nosedive to under $40 a barrel. Fast forward to the summer of 2011 when $97 oil was forecast to rise to $115 in three months. Oops; it dropped to around $75. In January, Goldman was calling for $150 per barrel of brent crude by 2015. Doh! Missed again. Now, they have reversed course after oil has been pounded, calling for $80 Brent crude. Ultimately, people can shoot holes in their rationale. First and foremost, What if North American producers don`t cut back on production Let`s not forget that shale drilling is getting more efficient, so all-in costs could edge lower too, even if fewer rigs are run. How about demand remaining high amid strengthening economies and economic stimulus Point here is not necessarily to degrade Goldman, as making predictions can be extremely difficult, but they are not the be-all-end-all and investors need to be aware of that, not just blindly accept what they forecast.

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Forex & Commodity Snapshot:

* The Canadian Dollar edged lower against the US Dollar, easing by 0.28% on the week to US$0.8876.

* December Gold futures were the most actively traded, plunging by $60.20 per ounce, or 4.89%, to $1,171.60.

* December Silver futures were the most actively traded, diving $1.076 per ounce, or 6.26%, to $16.106.

* December Copper futures were the most actively traded, eking up 6/10ths of a cent per pound, or 0.20%, to $3.047.

* December West Texas Intermediate Crude futures were the most actively traded, losing $0.47 per barrel, or 0.58%, to $80.54.

Equity Market Snapshot:

(All percentages on a weekly basis unless otherwise noted) * In the latest piece of the acquisition saga between Valeant Pharmaceuticals (TSX:VRX, +3.16%) and Botox maker Allergan (NYSE:AGN, +5.85%), Valeant said it is willing to raise its bid for Allergan to $200 per share, as it vies for a friendly takeover. Valeant argues that Allergan wouldn`t even be valued as high as it is if it were not for the Valeant bid, even though Allergan posted a 17% increase in total product net sales to $1.7 billion in the third quarter. In what has become a theme of disagreement, Allergan contests its share price is being held down by the Valeant offer.

* Orbital Sciences Corp. (NSE:ORB, -9.40%) saw shares drop after the company`s unmanned rocket exploded just after taking off from NASA`s facility on Wallops Island, Virginia, carrying 5,000 pounds of supplies and experiments to the International Space Station. The scheduled flight was part of an 8-mission, $1.9 billion contract Orbital had with NASA to resupply the ISS. The first two missions were successful.

* Even stronger than expected third-quarter results couldn`t stop shares of Barrick Gold (TSX:ABX, -11.86%) from falling amid slumping gold prices. Barrick posted profits of 19 cents per share, against estimates of 18 cents per share, and said its all-in sustaining costs for an ounce of gold would only be $880-$920, as opposed to the $900-$940 it previously forecast.

* Yamana Gold (TSX:YRI, -28.51%) cited $668 million in impairment charges for its Brazilian mines when posting a net loss of $12.5 million, or 1 cent per share, in the third quarter, compared to an adjusted net profit of $69.5 million, or a nickel per share, in the year prior quarter. Yamana has reported this summer to be trying to sell its three Brazilian mines, but couldn`t find any buyers.

* Engility Holdings, Inc. (NYSE:EGL, +19.63%) and professional services provider TASC, Inc. agreed to terms in which Engility is acquiring TASC in an all-stock deal valued at approximately $1.1 billion, including the assumption of net debt. The merged company is expected to have combined pro-forma revenue of approximately $2.5 billion in 2014.

* Shares of Madison Square Garden Co. (NYSE:MSG, +16.99%) busted out after the company said it is planning to split its live entertainment business from its sports related assets (including the New York Knicks and New York Rangers) into two public companies as well as launching a $500 million stock repurchase plan.

* Goldman Sachs didn`t do oil companies any favors, predicting that oil could go as low as $70 a barrel in the next two months. Shares of Talisman Energy (TSX:TLM, -1.78%) fell for the 10th straight week.

Shares of Suncor Energy (TSX:SU, +2.96%), however, bucked the oil trend to rise for the third consecutive week.

* Twitter (NYSE:TWTR, -16.98%) said it is buying Twitpic, a service that had a weird month, saying it was closing its doors, then saying it was being acquired, then saying the deal caved and it was closing its doors and finally saying Twitter was buying it. The acquisition isn`t considered a big deal in the sense that it appears Twitter only wanted the company`s name, not its platform, but it does cause some speculation about what Twitter may have in the hopper. Meanwhile, Twitter met expectations on earnings, but disappointed investors with weak monthly active users.

* Twitter`s social media rival Facebook (NASDAQ:FB, -7.04%) came under pressure after beating Wall Street expectations on earnings, as investors seemed to become nervous about growth. Facebook`s outlook for revenue growth in the current quarter is 40%-47%, a deceleration from 63% in the year prior quarter. Jitters were also apparent regarding usage as monthly active users were 1.35 billion in Q3, barely up from 1.32 billion in the second quarter.

* Shares of Bristol-Myers Squibb (NYSE:BMY, +8.50%) moved upward as the company said its checkpoint inhibitor nivolumab delivered promising results in a Phase 2 study against advanced squamous cell non-small cell lung cancer. 41% of the patients treated with the drug were alive one year later, as compared to a historical one-year survival rate between 5% and 18%.

* Concerns over Ebola were pretty quiet last week, although Novavax Inc. (NASDAQ:NVAX, +9.16%) made a little noise and got a nice bump (fourth straight week) with a report that it will be commencing a Phase 1 trial for its Ebola vaccine by the end of the year.

Weekly Indices Results:

The S&P TSX Composite Index closed green for the third straight week, tacking on 69.50 points, or 0.48%, to 14,613.32. The TSX-Venture Composite Index fell for the ninth consecutive week, declining another 35.86 points, or 4.45%, to 769.59.

In the States, the Dow Jones Industrial Average went into beast mode, surging to a record high by adding 585.11 points, or 3.48%, at 17,390.52. The much-broader S&P 500 rose back over 2,000 to a new record of its own, gaining 53.47 points, or 2.72%, to close at 2,018.05. The tech-rich NASDAQ Composite galloped ahead too, advancing 147.03 points, or 3.28%, to 4,630.74.

Canadian Economic Data:

(All data from Statistics Canada unless otherwise noted) * The Industrial Product Price Index decreased 0.4% in September, after increasing 0.3% in August, mainly because of lower prices for energy and petroleum products (-1.7%). Of the 21 major commodity groups, 13 were up, 7 were down and 1 was unchanged. Also contributing to the decline in the IPPI in September was primary non-ferrous metal products (-1.9%) and to a lesser extent, meat, fish and dairy products (-0.3%). Moderating the decrease in the IPPI were higher prices for motorized and recreational vehicles (+0.6%). The IPPI rose 2.5% during the 12-month period ending in September, following a 2.6% gain in August.

* The Raw Materials Price Index declined for the third straight month, falling 1.8% in September, following a 2.2% decrease in August, largely as a result of lower prices for crude energy products (-1.9%).

Of the six major commodity groups, four were down, one was up and one was unchanged. Animals and animal products (-3.4%) also contributed significantly to the decline of the RMPI, as a result of lower prices for live animals (-5.2%). The RMPI decreased 0.9% in the 12-month period ending in September, after declining 0.6% in August.

* Real gross domestic product declined 0.1% in August, following no growth in July and increases in the first six months of the year.

August growth was weighted down by a drop in manufacturing (-1.2%) and a decline in oil and gas output (-2.5%), while a 0.2% increase in the output of services industry helped pare a contraction. Analysts predicted the flat month. Increases of 0.5% and 0.3% were recorded in May and June, respectively. Year-on-year, GDP was up 2.2% in August.

At the current pace, GDP in 2014 is going to come up short of the 2.3% growth in the third quarter forecast by the Bank of Canada.

This week, major economic data reports will include International Merchandise Trade on Tuesday; Building Permits and Ivey Purchasing Managers Index on Thursday; and Labour Force Survey on Friday.

U.S. Economic Data:

* The Commerce Department reported that durable goods orders, items meant to last three years or more, fell by 1.3% in September, marking the second straight monthly decline (-18.3% in August). Economists expected a 0.5% rise in orders for September. Durable goods orders were up a record 22.5% in July with the wild swings influenced by the volatile aircraft segment. Transportation orders were down by 3.7% in September, machinery orders were off by 2.8% and orders for motor vehicles and parts edged down by 0.1%. Primary metals helped offset the losses with a rise of 2.2%. Orders for non-defense capital goods excluding aircraft, a barometer for future business investment, dropped 1.7%, the biggest decline since January, after a 0.3% gain in August.

* The Labor Department said that initial jobless claims, a proxy of weekly layoffs, rose to 287,000 in the week ended October 25 from a revised 284,000 (upward from original estimate of 283,000) a week prior, edging higher for the second straight week after hitting a 14-year low of 266,000 two weeks earlier. The four-week moving average of claims, regarded as a better measure of overall labor trends because it irons out weekly volatility, fell 250 to 281,000, the lowest level since May 2000.

* The Commerce Department announced that the US economy grew by 3.5% in its first estimate of third-quarter gross domestic product, topping analyst predictions of 3.0% expansion in the July-September period and capping the strongest six-month period for the country since 2003 with 4.6% expansion in the second quarter. Digging past the headline figure there were modest concerns as consumer spending, which makes up about two-thirds of the economy dipped to 1.8% expansion in the third quarter, following 2.5% growth in Q2.

* In a report a day after the GDP announcement, the Commerce Department showed that consumer spending unexpectedly slid in September against the backdrop of a tepid rise in income. Personal outlays declined by 0.2% in September, coming up short of the 0.1% increase economists predicted to follow a 0.5% jump in August.

Personal income only rose 0.2% in the September, the smallest climb since last December. Consumers spent 1.9% less on durable goods in September and 0.3% less on non-durable goods (which include things like clothing and gas). A gauge of inflation in the report showed prices to have climbed 1.4% from last September, well below the Fed`s 2.0% target.

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

The Month at a Glance – October Stocks in North America were bipolar in October. It was seriously tough sledding early in the month as losses accelerated after record highs were hit by the Dow, S&P 500 and TSX Composite in September.

Volatile intraday swings took root, with triple digit movement in the Dow every day in October and triple digit losses or gains in 15 of 22 sessions. Call it a confluence of factors across the world that spread volatility and fear throughout the markets. We`re not going to focus too much on the Venture exchange, which was punished for 15.4% losses in October after losing 10% of its value in September. It may take a while, but money will eventually start coming back into the small exchange, as bargain hunters won`t ignore it forever in favor of constantly rising equities on larger exchanges.

The fourth quarter started on a sour note with the first case of Ebola diagnosed in the United States, ISIS imposing its will in the Middle East, a massive protest in Hong Kong and the lingering conflict between Russia and Ukraine in the headlines. That type of global turmoil was all market players needed to dock profits and start postulating if the nearly six-year-long bull run was starting to be overcooked and selling begat selling. Even optimism and buying on a better-than-expected report on the US labor market did not last long early in the month. In addition to hefty revisions to previous months, the US Labor Department showed the nation added 248,000 jobs in September and the unemployment rate dropped to an eight-year low at 5.9%. Canadians had reason to cheer too, as Stats Can reported 74,000 new jobs in September and unemployment at a six-year low at 6.8%.

Further pressuring markets, the International Monetary Fund trimmed 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. European Central Bank President Mario Draghi, who has been dovish as it gets with supporting the European economy, called Europe`s financial woes structural and only fixable by reformation, not just stimulus. Still, Draghi said the ECB will begin purchasing covered bonds and asset-backed securities in the fourth quarter of 2014, which started late in October. The Federal Open Market Committee may have halted its asset purchases in October, but the minutes from the FOMC meeting in September showed that Fed officials are concerned about a strong US dollar and slow global growth, saying those factors could hamstring exports and constrain inflation.

After a multi-week smackdown, the bulls apparently had enough and came back to gore the market bears with an epic rally at mid month to put the fourth quarter back on track. As described above, part of the catalyst was stimulus by central banks to support some flagging economies and part was attributed to the underlying strength of the US economy with mostly upbeat economic reports in the second half of October, but that certainly isn`t the whole picture. “Buy the dip” has been the mantra of the markets ever since the market fallout ended in late 2008 and that has not wavered, no matter how loud some voices get about possibly overstretched valuations or global economic recovery worries. The force was strong enough to reject virtually every technical merit that said the downside was far more likely than upside in the middle of the month. Perhaps most importantly, though, third-quarter earnings reports have outpaced Wall Street expectations, particularly in the second half of the month, giving the bulls an entree of fodder to gallop ahead.

One of only two down days since October 16 for the US markets came on October 22, the day that a Canadian soldier guarding the National War Memorial was shot and killed in an attack on Canada`s Parliament, sending alarm of a possible terrorist attack as downtown Ottawa was put on lockdown. Incidentally, the TSX Composite has only had four down days in the same stretch, with the 22nd being the worst day of losses. While the TSX has tried to move alongside US equities, the headwinds of slower economic growth and sagging commodities are a burden to try and overcome. Spot gold lost 2.9% in October, it`s third monthly loss in the last four months. Spot silver fell 4.7% for its fourth straight monthly loss. Spot WTI crude doffed-off 11.6%, also a fourth straight month of decline.

Maybe to some its hard to still hear that the US economy is in a “recovery” when stocks are at record highs, unemployment is under 6% and the Fed doesn`t see a need for asset purchases, and that`s probably fair to say. Is there a disconnect from stocks and the economy Well, that`s a fair question too as that seems to be the case to a certain extent. Trying to figure out why is about as easy as pushing a rope; that`s why financial stations march out one pundit after another to offer their opinion, with about half of them being wrong. Point in case, there was not shortage of coverage of analysts and so-called experts in October saying the markets were heading into full-on correction territory. The bottom line is the US economy is looking stronger by the month, but other leading global economies are limping along, which creates a bit of confusion and an opportunity for volatility. With that in mind, we think volatility is probably here to stay throughout the remainder of the year, just not quite as wild of a ride as October was.

Monthly Indices Results:

* S&P TSX Composite: down 2.32% (-347.19 pts.) * TSX-Venture: down 15.36% (-139.70 pts.) * Dow Jones Industrial Average: up 2.04% (+347.62 pts.) * S&P 500: up 2.32% (+45.76 pts.) * NASDAQ: up 3.06% (+137.35 pts.) Monthly Equity Market Snapshot:(All percentages on a monthly basis unless otherwise noted) * Carl Icahn won his fight to have EBay Inc. (NASDAQ:EBAY, -7.29%) spin off its PayPal business into a separate publicly traded company next year. Icahn Associates is eBay`s sixth-biggest shareholder with a 2.5% stake, or about 30,800 shares.

* Hewlett-Packard (NYSE:HPQ, +1.16%) 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 and 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, +5.57%) 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, +2.48%) 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, +0.61%) agreed to acquire Durata Therapeutics (NASDAQ:DRTX, +89.51%) 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, -11.83%) 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, -9.04%) 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.

* Shares of Teck Resources (TSX:TCK.B, -16.03%), 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.

* On the Ebola front, hazmat-suit related companies pulled back from highs, but still notched gains. Shares of Lakeland Industries Inc.

(NASDAQ:LAKE, +102.88%) roared ahead and Alpha Pro Tech Ltd. (NYSE MKT:APT, +3.69%), which was up more than 200% at one point, gave back nearly all the gains in October, but is still up about 75% in three months.

* Natural gas producer Chesapeake Energy Corp. (NYSE:CHK, -3.08%) said it will sell some of its Marcellus and Utica shale assets to Southwestern Energy Co. (NYSE:SWN, -6.98%) in a $5.38 billion deal.

The assets include some 1,500 wells spanning 413,000 net acres in West Virginia and southern Pennsylvania.

* The Wall Street Journal reported that Canadian Pacific Railway (TSX:CP, +0.86%) and CSX Corp. (NYSE:CSX, +11.14%) are in talks about a possible merger. If a deal were ever forged, which could face heavy scrutiny from regulators, the combined company would have a market cap around $65 billion. Shares of Canadian National Railway (TSX:CNR, -0.06%), CP`s biggest rival, moved down on the report, but then recovered.

* Shares of Regulus Therapeutics (NASDAQ:RGLS, +192.24%) were the biotech play of the month, skyrocketing on news that its experimental mico-RNA drug RG-101 showed promising results in early clinical trials for the treatment of Hepatitis C.

* JP Morgan (NYSE:JPM, +1.07%) was the victim of a massive data breach, affecting some 76 million accounts. The hackers reportedly did not compromise payment account data, but marketing data was accessed.

* Shares of Agrium (TSX:AGU, +10.76%) shot ahead on news that activist investor ValueAct Capital had taken a 5.7% stake in the fertilizer and seed company. Agrium said that ValueAct isn`t pushing for a breakup of the company.

Penny Stock of the Day:

The October “Penny Stock of The Day” companies continue to generate solid returns with 8 companies notching double digit gains since they were highlighted last month. The biggest winner for the October was Nuvilex, Inc. (OTCQB:NVLX), which busted through resistance shortly after being picked at $0.193 on October 8 to rise as high as $0.27 for a quick return of 39.9% and is still holding gains near 20%.

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