Market Pulse is pleased to introduce our featured stock, Petrostar Petroleum Corporation (TSX-V: PEP), to the investment community! Petrostar is new to Market Pulse and is poised to become a significant player in the oil and gas exploration industry! Petrostar just had excellent news out in a press release before today's opening bell announcing a successful 2 well drilling program is completed and their joint venture with Trigas Ventures Ltd. is also completed! This could be great news for investors! Investors need to go to the company's website www.petrostarpetroleum.ca and review this exciting technology! Other notable stocks that should be closely watched due to existing fundamental and technical factors affecting each company include:
Halliburton Co. (NYSE: HAL) : Market Outperform
Caterpillar Inc. (NYSE: CAT) : Bearish
Great Basin Gold Ltd. (AMEX: GBN) : Attractive
Stock Pick Meanings
These stock picks are the investment opinions of MP's editor and reflect MP's belief regarding the potential price movement over the next one to four weeks of trading of each of the stocks presented. This analysis is done from a technical and fundamental perspective.
After Wednesday's Bell Market Commentary
On Wednesday, the markets closed lower as investors mulled over the latest combination of modest wholesale inflation numbers and slow retail sales. The Commerce Department reported retail sales rose a sluggish 0.2 percent in October, matching economists' expectations, as a housing downturn and steep oil prices constrained consumer spending. The Labor Department reported that wholesale inflation edged up just 0.1 percent last month, far below the 1.1 percent jump in September. Gold prices rose $15.70 to settle at $814.70 an ounce. The dollar was mixed against rival currencies. Treasury bonds were mixed. A barrel of light sweet crude rose $2.92 to settle at $94.09 a barrel. The Dow fell 76.08, or 0.57 percent, to close at 13,231.01. The Nasdaq composite index fell 29.33, or 1.10 percent, to close at 2,644.32. The Standard & Poor's 500 index fell 10.47, or 0.71 percent, to close at 1,470.58. The Russell 2000 index fell 6.68, or 0.85 percent, to close at 782.47.
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You should be aware that MP is often compensated for issuing analyses, recommendations or opinions concerning particular companies. Its opinion is therefore not unbiased and you should consider this factor when evaluating MP's statements regarding a company. MP has been compensated three hundred thousand dollars from Petrostar Petroleum Corporation. In addition, MP has fifty thousand dollars pending from Petrostar Petroleum Corporation. MP's officers and directors reserve the right to buy additional shares of the companies discussed in this opinion and may profit in the event those shares rise in value. When MP receives free trading shares as compensation for a profiled company, MP may sell part or all of any such shares during the period in which MP is performing such services.