U. S. MARKETS AUG. 12-18

Investors in U. S. markets can be forgiven for feeling a little overwhelmed these days. Expectations that slower economic growth will limit demand have pushed down prices for commodities such as copper, gold and platinum. Underlying inflation is speeding up (the U. S. Labor department is reporting that prices for the past year have risen at the fastest pace in 27 years) and the credit crisis is far from over, fuelling fears of more pain to come in the fragile banking sector.

Meanwhile none of the numbers in the crisis- hit housing sector are looking very good. Construction of homes and apartments in July fell to the lowest level in more than 17 years. The stream of bad news during the current trading Aug. 12-18 included data that showed foreclosures in the U. S. housing market are rising at an annual rate of 55%.

As for energy costs, the Organization of the Petroleum Exporting Countries forecast in its monthly report on Aug. 15 that lower global oil demand growth will help push down oil prices. OPEC expects that the daily demand for oil this year will grow by 1 million barrels, 30,000 barrels a day less than its previous estimate. The group of oil exporters predicted growth for 2009 will be 900,000 barrels a day, the lowest growth in world demand since 2002.

Amidst all the uncertainty, it’s not surprising that the Dow Jones Industrial Average sank 163.08 points, or 1.4%, to 11,479.390, while the S&P 500 Index shed 10.99 points to close at 1,278.600.

Of course it’s not all doom and gloom and there are some standouts in the crowd. Iron ore mining and processor Cleveland Cliffs topped the charts with a gain of US$9.23 to US$95.04 a share.

Vale maintained its mantle as the most actively traded stock, a position it has held virtually all year, with 147.9 million shares changing hands. Vale closed up 5 during the session to US$24.81 per share.

Other bright spots were energy and agriculture-related commodity plays. Potash Corporation of Saskatchewan, Agrium and Mosaicall performed nicely. Potash Corp. vaulted US$9.13 to US$170.04, Agrium climbed US$5.81 to US$80.44 and Mosaic moved up US$5.22 to US$101.57.

U. S. most active issues
	VOLUME	WEEK
	(000s) HIGH	LOW	CLOSE	CHANGE
Vale* RIO	147961 26.68	24.44	24.81	+ 0.05
Barrick Gold* ABX	70664 35.45	31.72	33.01	+ 0.24
Goldcorp* GG	64666 33.46	29.26	30.38	+ 0.47
CoeurdAlene*CDE	61645 1.97	1.76	1.83	+0.09
PotashCSask* POT	60950182.28	158.02	170.04	+ 9.13
Freeport McMo*FCX	55071 89.48	80.50	83.34	+ 1.04
Alcoa* AA	54849 32.49	30.80	31.11	-0.12
Newmont Mng* NEM	44112 44.50	41.34	42.05	+ 0.55
Gold Fields* GFI	41927 9.63	8.66	8.79	+ 0.14
Mosaic* MOS	41772 107.89	94.57	101.57	+ 5.22

U. S. greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Nilam Res*	NILR	12423	0.12	0.04	0.07	+ 75.0
Commerce Grp*	CGCO	32	0.12	0.08	0.12	+ 71.4
Shoshone Silv*	SHSH	205	0.18	0.10	0.18	+ 38.4
Madison Minls*	MMRSF	183	0.21	0.15	0.20	+ 33.3
Radius Gold*	RDUFF	33	0.21	0.16	0.21	+ 31.2
New Jersey Mg*	NJMC	39	0.40	0.33	0.38	+ 31.0
World Vent*	WVNTF	25	0.09	0.06	0.09	+ 28.5
Douglas Lk Ml*	DLKM	238	0.45	0.24	0.40	+ 25.0
AmMex Gold*	AMXG	140	0.05	0.04	0.05	+ 25.0
Crystallex In*	KRY	5755	1.00	0.71	0.88	+ 22.2
Grandview Gld*	GVGDF	20	0.20	0.10	0.10	-52.3
Birch Mountn*	BMD	2255	0.31	0.12	0.14	-50.0
APEX Silver*	SIL	8496	5.22	3.03	3.27	-41.6
Aspire Intl*	APIT	41	0.47	0.06	0.20	-39.3
Geocom Res*	GOCM	15	0.13	0.08	0.08	-38.4
Global Gold*	GBGD	38	0.10	0.10	0.10	-33.3
Bullion Rvr G*	BLRV	775	0.08	0.05	0.05	-28.5
Industrl Mnls*	IDSM	193	0.06	0.05	0.05	-28.5
Canarc Res*	CRCUF	11	0.25	0.18	0.18	-28.0
Central Sun M*	SMC	14	0.85	0.65	0.65	-27.7

U. S. greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Cleveland-Cli*	CLF	18550815	95.04	+ 9.23
Potash C Sask*	POT	60949508	170.04	+ 9.13
Agnico-Eagle*	AEM	25393756	51.64	+ 5.81
Agrium*	AGU	4125600	80.44	+ 5.81
Mosaic*	MOS	41772458	101.57	+ 5.22
Fording C C T*	FDG	13331855	87.14	+ 3.83
Massey Energy*	MEE	26754015	59.46	+ 3.38
Foundatn Coal*	FCL	7556601	56.11	+ 2.50
Alpha Nat Res*	ANR	16045537	90.55	+ 2.25
Randgold Res*	GOLD	5758820	43.88	+ 2.17
Cameco Corp*	CCJ	20333591	28.74	-2.94
APEX Silver*	SIL	8496153	3.27	-2.33
Westmoreland*	WLB	237464	19.72	-2.06
ASA (Bermuda)*	ASA	527034	62.17	-1.83
Cabot Corp*	CBT	1953341	27.92	-1.32
MDU Res*	MDU	3795168	31.47	-1.28
OM Group*	OMG	3796525	31.60	-1.24
Mag Silver*	MVG	40000	7.09	-0.89
Central Fund*	CEF	7924622	10.20	-0.86
Silver Std Re*	SSRI	3655778	24.00	-0.80