AMEX Ended Lower amid Libya's Chaos

AMEX was captured in negative territory where all the major indexes posted worst one day drops of the year because of shooting political crisis in Libya, On the contrary the oil prices continued to amplify.

However market strategists are of opinion that the market is on a short-term pullback given by steady rise since late August, and the advancement in oil prices might be the catalyst to set off that retreat.

The overnight slide joint with anxiety about precariousness associated to surging geopolitical risk overseas stimulated U.S. participants to cut their stock holdings. Primarily, their attempts plunged stocks nearly 1%, but as has been the matter in prior sessions some entered in to endow with support and proffer up the dunk.

A February Consumer Confidence Index reading of 70.4, which surpassed the Briefing.com agreement of 67.0 to set a near three-year high, assisted the attempt.

AMEX COMPOSITE INDEX (AMEX: XAX) plunged -0.92% at 2,325.26 where on the whole is moving with the positive growth rate of +75.89% of five days change, +27.72% of five years change and +159.49% of ten years change.

Looking for the basic Market Movers, Avalon Rare Metals Inc. and Denison Mines Corp. were among the top volume leading stocks on AMEX.

Avalon Rare Metals Inc. (AMEX:AVL) traded with 3.06 million shares as compared to average volume of 2.14 million shares in last trading sessoin.

China generates nearly 97% of the global supply of the metals consumed in the manufacturing of numerous high-tech products like Blackberry, iPhone, aerospace components, wind turbines, and lasers. It proclaimed in December 2010 that it will reduce its export quota by almost 35% for the first half of 2011.

This opened chances for companies that were not in position to compete to fulfill the demands. Rare earth metals are dispursed all over the world: established reserves in China exist for almost 43% of the total, and the remaining best comprise of the Commonwealth of Independent States (19%), the United States (13%), and Australia (5%).

Avalon Rare Metals (AVL) focuses on raising the Nechalacho Deposit in Thor Lake, Northwest Territories, Canada. Preliminary production is plagued for 2015. Furthermore, the Company is not having any debt. Also significance noting is that since September through November 2010, revenues surged by over 300% in contrast to the same period in 2009 resulted in the last 6 months, AVL is up by 70%, and year-to-date has increased by over 20%.

Denison Mines Corp. (AMEX:DNN) has commenced a Bid Implementation contract with White Canyon Uranium Limited under which Denison Mines Corp. has approved to make a conquest offer to obtain 100% of the issued as well as outstanding shares of White Canyon (TSX VENTURE: WU) (ASX: WCU) at a price of AU$0.24 a share for a total contemplation of nearly AU$57 million or CDN$56.6 million. The bid reflects a premium of almost 20% to the closing price of White Canyon shares on the Australian Securities Exchange on February 18, 2011 (the last trading day in White Canyon shares previous to this declaration) and premiums of 23% and 51% to volume weighted average prices for White Canyon shares in the prior 30 and 90 trading days, respectively.

DNN traded with 7.53 million shares as compared to average volume of 3.10 million shares.

Highlighting the broader picture of Advances & Declines on AMEX give the view that it has total 699 issues out of which Advancing Issues remained 114, where 552 were Declining Issues and 33 were noted as Unchanged Issues.

Whereas the Total Volume included from the pre-market and regional exchanges was noted as 826.57 Million with up volume of 9%, down volume 90% and 1% unchanged volume.

NIVS IntelliMedia Technology Group, Inc (AMEX:NIV) witnessed as the top price% gainer with the splendid rise of +7.52% at $2.86 where on the whole is moving with the positive pace of +15.32% of five days change, +23.28% for quarter change and +26.55% of year to date change.

On the contrary, Midway Gold Corp. (AMEX:MDW) was noted as the top loser on AMEX with the sharp decline of -14.19% at $1.33. Midway Gold Corp. recommended that in association with its opening prospectus filed February 2, 2011, it has obtained remarks from the British Columbia Securities Commission (BCSC) over the Company’s confession of technical as well as scientific information regarding its Midway, Pan and Gold Rock properties.

In last, B2B Internet HOLDRs (ETF) (NYSE:BHH) ($1.14, -4.20%) seems to be rising stock on AMEX traded with 1.04 million shares as compared to the average volume of 315,275 shares.