The Prospector News

The Week of October 15th to October 21st, 2018 “A Brief Look Back Into Tomorrow”

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

The Week of October 15th to October 21st, 2018 “A Brief Look Back Into Tomorrow”






The new trading week began on Monday, October 15th with the markets suffering through their third correction of the year while Canadians were counting down the final days to recreational cannabis becoming legal.




With figures that show the current extreme enthusiasm for the cannabis market – Bloomberg reported that $10.5-billion of marijuana deals have been done in Canada to date this year, well surpassing the $1.51-billion of deals done in 2017, $469-million in 2016 and just $94-million completed in 2015.




America’s iconic department store Sears Holdings ‘SHLD-N’ applies for Chapter 11 bankruptcy protection.




The Canadian Real Estate Association reported that Canadian home sales fell by 0.4% in September to bring the annual decline in sales to 8.9%. Meanwhile, the average sale price of a Canadian home rose by 0.2% in the past year to $487,000.




Tuesday, October 16th saw the price of Cott Corporation ‘BCB-T’ rise by over 4.5% to $20.12 after the private label soft drink bottler announced the purchase of premium water company The Mountain Valley Spring Co. in an all-cash deal of some $78.5-million.




Charlotte’s Web ‘CWEB-T’ shares’ gained over 4% to $17.53 after the distributor of hemp-derived CBD products announced announced a better than expected increase in distribution outlets.




And Premier Gold Mines ‘PG-T’ announced a 26% increase in gold production from its flagship Mercedes Mine in the state of Sonora, Mexico.




Wednesday, October 17th marked the first day that Canada became the second country after Uruguay to legalize recreational cannabis.




Statistics Canada reported the country’s manufacturing sales fell by 0.4% in August to $58.6-billion.




Netflix Inc. ‘NFLX-Q’ shares rose by over 5% to US$364.70 after the streaming and entertainment company not only beat analysts’ expectations with its 3rd-quarter financials but better yet – raised its guidance for the 4th-quarter ahead.




The share price of Westhaven Ventures ‘WHN-V’ skyrocket up by almost 120% to $0.81 after  the junior mineral explorer reported better than expected drill-hole gold assays from its Shovelnose project near Merritt, BC.




Technical analysts David Tippin & Ron Meisels commented on Thursday, October 18th – “This unexpectedly sharp correction has shaken the conviction of many bull market supporters. The markets need to find some stability and remain above key long-term bull market support levels.” (For a complete copy of this report please contact




Alcoa Corp. ‘AA-N’ shares’ rose by 6% ot US$38.85 on Thursday, October 18th after the aluminum giant beat the street with its 3rd-quarter financials.




The price of Sealed Air Corp. ‘SEE-N’ dropped by over 8% to US$32.35 after the packaging company failed to meet analysts’ expectations with it 3rd-quarter financials.




And United Rentals ‘URI-N’ stock plunged by 15% to US$118.13 after the company lowered its revenue forecast for the rest of the year.




Friday, October 19th had Statistics Canada report the country’s annual Inflation rate fell by 0.6% in in September to 2.2%.




The National Association of Realtors reported that American existing home sales fell by 3.4% in September to an annualized 5.15-million units.




Petroleum industry analyst Baker Hughes ‘BHGE-N’ reported that the number of active American drilling rigs rose by 154-rigs last week to 1,067 active drilling rigs. Up north, the number of active Canadian drilling rigs fell by 4-rigs to 191 active drilling rigs.




Corus Entertainment ‘CJR.B-T’ stock rose by 6% to $4.88 after the Eastern Canadian media company impressed with its 4th-quarter financials.




During the WeekAurora Cannabis ‘ACB-T’ at $15.07, Parkland Fuel Corp. ‘PKI-T’ at $46.95 and Uranium Participation Corp. ‘U-T’ at $4.97 all rose to new TSX 52-week trading highs while Bank of Nova Scotia ‘BNS-T’ at $71.10, Manulife Financial ‘MFC-T’ at $19.91 and West Fraser Timber ‘WFT-T’ at $61.46 all dropped to new 52-week trading lows.




For the Week – the Dow Industrials rose by 0.41% to 25,444, with the S&P 500 up by 0.04% to 2,768, while the NASDAQ dropped by 0.64% to 7,449. Further north – the TSX Composite gained 0.36% to 15,470 while the TSX Venture fell by 2.43% to 682.




With Commoditiesgold bullion rose by 0.57% to US$1,229, while copper fell by 0.71% to US$2.78, as crude oil dropped by 2.67% to US$69.28 and natural gas gained 0.33% to US$3.10. Overall, the CRB Spot Commodity Index fell by 0.24% to finish the week at 417.




The Canadian dollar lost 0.59% against its American cousin to end the week at US$0.7633.




And the closely watched CBOE Volatility Index or VIX dropped by 1.42-points to finish the week at a little calmer level of 19.89.




And Finally – Various Canadian governments have recently said that they wanted to slow down the housing market, and it looks like they might be getting what they wanted – and then some –  as Canada Mortgage and Housing Corp. (CMHC) reported that the number on new housing starts fell by 5.1% in September to a seasonally adjusted annualized 2-year low of 188,683 starts.

Posted October 22, 2018

Share this news article


Evergold Announces Closing of $1,242,000 Private Placement to Support First-Ever Drilling of High Potential DEM Porphyry Copper-Gold-Silver Prospect, BC

Evergold Corp. (TSX-V: EVER) (WKN: A2PTHZ) is pleased to announc... READ MORE

September 30, 2023

Lavras Gold closes upsized private placement

Lavras Gold Corp. (TSX-V: LGC) (OTCQB: LGCFF) has raised gross pr... READ MORE

September 30, 2023

First Phosphate Receives Letter of Interest in the Amount of up to US$170 Million from the Export-Import Bank of the United States (EXIM)

First Phosphate Corp. (CSE: PHOS) (OTC Pink: FRSPF) (FSE: KD0) is... READ MORE

September 30, 2023

New Pacific Metals Closes C$35 Million Bought Deal Financing

New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) announ... READ MORE

September 30, 2023

Laramide intercepts broad-based uranium mineralization in initial holes from 2023 Australian exploration program

Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is p... READ MORE

September 30, 2023

Copyright 2023 The Prospector News