In last week's edition of Trading Tools, Owens Corning (OC) was examined, as it appeared on the Zacks Unusually High Option Volume filter. Utilizing the same screener again this week in an effort to find a stock on options players' radars, one equity caught my eye: auto-parts issue Magna International Inc. (MGA).

< ?DART(15);?> Before we begin, let's explain the contrarian stance that makes Schaeffer's so unique. When searching for a bullish pick, we like to see heavy skepticism toward an outperforming stock, as this leaves ample room for upgrades or other positive catalysts to fuel the stock higher. When searching for a bearish pick, on the other hand, contrarians are looking for significant bullish sentiment toward an underperforming stock, as we believe an excess of optimism is a sign that everyone has already bought into the stock and sideline money is virtually

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There was no rest for the sellers during Wednesday trading on the Canadian Markets with back door political moves creating government chaos in Ottawa. For the tale of the tape, the TSX Exchange dropped 0.37%, while the TSX Gold Index gave back 3.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 2.63% with the declining issuers outpacing the advancers by a 452 to 294 margin on volume of 160 million shares traded.

The big news of the day came from Freeport-McMoRan Copper & Gold (NYSE:FCX), which announced a reduction in copper production and sales for 2009 along with a 50% cut in estimated capital expenditures for 2009. The major eliminated its stock dividend. Oooch. Freeport ended the day at $18.05 down $3.77 in New York trading.

Duran Ventures tagged 146.75 metres running 0.93% copper and 0.04% molybdenum, within a broader zone of 458.1 averaging 0.497% copper and

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Alex’s Notes: Boy, it sure seems to me like history repeats.

Gold (and silver) bullion is under siege in terms of demand, and shortage is starting to appear not just in the US, but all over North America and now Europe as well.

Anyone who studies history could have predicted this, its not rocket science.

All through history, every time major confidence is lost in fiat based economies, when those economies face massive corrections in terms of either hyperinflation or deflation, people flock to gold and silver bullion.

Is it any wonder that we are seeing that happen again today?

I have said many times we will again see lines of people waiting outside of gold shops to buy gold in the upcoming financial correction, just as they did in the past when mirror image events resulted in the exact same actions by people.

People are predictable in two ways:

1. They do the same things when

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