Interesting to see that Alcoa misses the street. Will be watching the earnings season closely to see if this is a signal to weaker resources in the coming weeks and months. Here’s an excerpt from a MarketWatch article, although it’s specifically talking about Alcoa, perhaps there’s too much hope in the market being calm. If that’s the case then 2010 might end up being another rough year instead of a calm one. If there’s one thing the markets don’t favour; it’s hope.
Alcoa management has their work cut out for them. But they also have an opportunity now to take a fresh look at their business without fear of a sudden whiplash in the marketplace. Hopefully, a calmer 2010 will temper everyone’s expectations and give the market a chance to build a more lasting foundation than the one that crumbled in 2008. (source)

Stocks to watch:
PSX.TO – $1.83 – Big move up today on this news. Will it be able to keep the momentum up? That remains to be seen.
BXI.V – $2.12 – Good news for this company looking to move up to play with the big boys in the TSX. New release.

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