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Tuesday September 29, 2009

DrStockPick.com Stock Report!

PWRM, CVX, NDAQ, TSPG, BA, AQNM, LMT

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PWRM, Power 3 Medical Products Inc, PWRM.OB

Power3 Medical Products, Inc. is a leading bio-medical company engaged in the commercialization of neurodegenerative disease and cancer biomarkers, pathways, and mechanisms of diseases through the development of diagnostic tests and drug targets. Power3’s patent-pending technologies are being used to develop screening and diagnostic tests for the early detection and prognosis of disease, identify protein biomarkers, and drug targets. Diagnostic tests are targeted toward markets with critical unmet needs in areas including neurodegenerative disease (NuroPro) and breast cancer (BC-SeraPro). Power3 expects

Gold prices extended gains above $1,010 an ounce in Europe on Friday as the dollar index’s <.DXY> tumble to one-year lows fuelled interest in the precious metal as an alternative asset.

Its gains lifted prices of other precious metals, with silver and platinum both rallying to multi-month highs in its wake.

Spot gold rose to a high of $1,011.55 an ounce, its firmest since February 2008, and was bid at $1,009.50 an ounce at 1437 GMT against $995.50 late in New York on Thursday.

Citigroup analyst David Thurtell said the dollar was providing most support to gold. “The dollar seems like it could be heading for $1.50 against the euro. There are bound to be people seeking currency hedges, and gold’s a good one,” he said.

Nonetheless, gold’s inability to hold above the $1,000 an ounce level in previous runs higher was likely to encourage profit taking at these levels, he said, while an increase

Gold climbed on Tuesday after data showed the U.S. manufacturing sector grew more than expected in August, lifting appetite for assets seen as higher risk, such as commodities, and boosting inflation fears.

But gains were capped by a slight recovery in the U.S. dollar and by a reduction in the metal’s appeal as a haven.

Spot gold was bid at $954.40 an ounce at 1444 GMT, against $949.65 an ounce late in New York on Monday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $2.70 to $956.20.

The data from the Institute of Supply Managers showed the U.S. manufacturing sector returned to growth in August after a prolonged slump, while pending home sales raced to a two-year high in July.

The news boosted U.S. stock markets, while European shares pared earlier losses.

Simon Weeks, head of precious metals at the Bank of Nova Scotia, said the news was

Gold hit a three-week high above $960 an ounce on Friday as buying linked to the weaker dollar pushed the metal through technical resistance, before paring gains after U.S. consumer sentiment data pressured the euro.

Spot gold hit a high of $961.00 an ounce, its firmest level since Aug. 7, and was bid at $955.10 an ounce at 1434 GMT, against $946.75 an ounce late in New York on Thursday.

Prices rose after heavy selling of the dollar late on Thursday, particularly against the Swiss franc, knocking the U.S. currency to multi-week lows versus the euro.

“In the near term is it still predominantly the currency that is in the driving seat,” said Saxo Bank senior manager Ole Hansen.

“That has managed to tip (gold) through a technical level where new buying and short covering has been triggered this morning, and that has given us a bit of momentum on the upside.”

Gold typically moves in

Gold and silver prices climbed to their highest in seven weeks on Monday, as the dollar’s slide to its lowest since mid-December boosted interest in hard assets.

Spot gold hit an intra-day high of $961.00 an ounce, its highest since June 11, and was bid at $959.10 an ounce at 1329 GMT, against $953.90 an ounce late in New York on Friday.

U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange rose $5.70 to $959.40 an ounce.

“At the moment we’re seeing the dollar as the key factor to movements in the gold market,” said Eugen Weinberg, senior analyst at Commerzbank.

“In the past few months (gold) has gone from being a safe haven to becoming a dollar play. The dollar right now is so weak because no one is looking for a safe haven — because corporate results are so good and stock markets are performing so well.”

Silver was

Gold rose on Thursday as the dollar fell versus a basket of currencies, with rebounding stock markets and U.S. jobless figures showing a decline in continuing claims boosting appetite for assets seen as higher risk.

U.S. data showed the number of U.S. workers filing new claims for jobless benefits rose slightly more than expected last week, but a gauge of underlying labor trends fell for a fifth straight week.

Spot gold was bid at $933.50 an ounce at 1311 GMT, against $929.00 an ounce late in New York on Wednesday. U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange rose $6.20 to $933.40 an ounce.

“If this is welcomed by the equities market and triggers a fresh boost, that could benefit gold,” said CMC Markets strategist Ashraf Laidi.

The dollar was down 0.39 percent at 79.3 against a basket of currencies and was lower against the euro following the

As is the norm of late, news flow slowed to a drip during Friday trading on the Canadian Markets with the headline on the junior front being a proposed three way merger. For the tale of the tape; the TSX Exchange added 0.63%, while the TSX Gold Index tacked on 1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gave back 0.20% with the advancers beating out the decliners by a 430 to 360 margin on 176 million shares traded.

IMA Exploration (AMEX:IMR), Kobex Resources and International Barytex Resources are looking to do a three-way deal that would create a mineral exploration company with around C$44 million in cash. The merger value will be based on each company’s working capital. A rough calculation shows that IMA is worth C$0.40 per share, Kobex is worth C$0.53 per share and International Barytex about C$0.09 per share. Interestingly, IMA

Gold firmed today, Thursday, as weakness in the dollar prompted interest in the precious metal as a currency hedge, with some physical demand after the previous session’s fall also supported prices.

Spot gold was bid at $912.50 an ounce at 1417 GMT, against $908.45 an ounce late in New York on Wednesday. U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange rose $3.50 to $912.80 an ounce.

Gold sold off on Wednesday in line with other commodities, slipping to an eight-week low, after the U.S. Commodity Futures Trading Commission said it was considering a clampdown on excessive speculation in commodities.

Afshin Nabavi, head of trading at MKS Finance in Geneva, said the slip was met with some light physical buying in the Far East and Europe.

“We saw some small demand out of the Far East this morning,” he said. “But India and the Middle East is still very

Gold fell in Europe on Wednesday and platinum dropped below $1,100 an ounce for the first time since May 18 as the dollar firmed against the euro, making precious metals more expensive for holders of other currencies.

Hard commodities weakened across the board, hit by global economic concerns and worries a potential clampdown on speculation in U.S. energy and commodity trading could hurt buying of the asset class.

Spot gold slipped to a low of $915.20 an ounce and was bid at $918.00 an ounce at 1414 GMT, against $923.30 an ounce late in New York on Tuesday. Meanwhile platinum was at $1,109 an ounce from $1,132, having touched a low of $1,099.

The dollar climbed broadly as growing risk aversion prompted buying of the precious metal as a safe store of value. The U.S. unit, weakness in which boosts gold’s appeal as a currency hedge, is currently the metal’s chief driver.

“In the last few

Gold slid more than 1 percent on Monday as a stronger dollar dented interest in the metal as an alternative asset, with investors buying the currency as a safe store of value amid fears over the economic outlook.

Strength in the U.S. unit kept most dollar-priced commodities under pressure as it made them more expensive for holders of other currencies, analysts said.

Spot gold was bid at $921.20 an ounce at 1507 GMT, against $932.30 an ounce late in New York on Friday.

U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange fell $9.70 from Thursday’s close to $921.30 an ounce.

“There is a sell-off with the dollar strength,” said Standard Bank analyst Walter de Wet. “Gold is holding up quite well, compared to the other commodities. At these levels, we might see some physical buying.”

He said while this may lend support to prices, a break of the $920-922