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Tecumseh Products Co. (Nasdaq:TECUA), Cogdell Spencer Inc. (Nasdaq:CSA) and American Italian Pasta Co. (Nasdaq:AIPC) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Winnebago Industries Inc. (Nasdaq:WGO), Oriental Financial Group Inc. (Nasdaq:OFG), Manitowoc Co Inc. (Nasdaq:MTW), Webster Financial Corp. (Nasdaq:WBS), Gaylord Entertainment Co. (Nasdaq:GET) and Boyd Gaming Corp. (Nasdaq:BYD).

Stocks are flying high at midday today on news that Citigroup (NYSE:C) reported it was profitable for the first two months of 2009.

At 1:27 pm ET, the Russell 2000 (NYSE:IWM) is up 19.94, or 5.81%, to 363.20. The Dow is up 4.27% to 6,826.77, and the S&P 500 is up 5.06% to 710.76.

Also helping stocks make large moves today was news that Congressman Barney Frank, chairman of the House financial services committee, said he expects the restoration of a rule that makes it harder to bet that a share's price will fall. Investors were encouraged by Frank's comments.

Financial stocks are in rally mode today following statements made by U.S. Treasury Secretary Timothy Geithner on Monday that the United States has taken more economic action in recent weeks than most countries have in years to ease strife.

Small caps seeing double-digit gains today include Gaylord Entertainment Company (NYSE:GET), up 33% after a proxy deal, and AM Castle (NYSE:CAS), which topped Q4 views and declared a $0.06 per share dividend, sending shares 42% higher.

Stocks up strong

Once again, early strength for stocks yesterday quickly turned to weakness. There is a battle going on between the bears and the bulls. Despite all time lows for consumer sentiment, there is a growing number of analysts and market strategists who believe a rally is at hand.

We’ve been seeing signs of a rally for a couple weeks now. That’s why . . .

A M Castle & Co. (Nasdaq:CAS), Gaylord Entertainment Co. (Nasdaq:GET) and First United Corp Maryland (Nasdaq:FUNC) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: SL Green Rlty REIT (Nasdaq:SLG), Helen of Troy Ltd. (Nasdaq:HELE), Imperial Sugar Co. (Nasdaq:IPSU), Dollar Financial Corp. (Nasdaq:DLLR), M I Homes Inc. (Nasdaq:MHO) and West Bancorp Inc. (Nasdaq:WTBA).

Ampco Pittsburgh Corp. (Nasdaq:AP), Safe Bulkers Inc. (Nasdaq:SB) and Ladish Co Inc. (Nasdaq:LDSH) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Haynes International Inc. (Nasdaq:HAYN), Protective Life Corp. (Nasdaq:PL), Zoltek Companies Inc. (Nasdaq:ZOLT), Amicus Therapeutics Inc (Nasdaq:FOLD), Gaylord Entertainment Co. (Nasdaq:GET) and Geo Group Inc. (Nasdaq:GEO).

Gaylord Entertainment Co. (Nasdaq:GET), Vail Resorts Inc. (Nasdaq:MTN) and Ticketmaster Entertainment Inc. (Nasdaq:TKTM) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dialysis Corporation of America (Nasdaq:DCAI), Investors Title Co (Nasdaq:ITIC), Daily Journal Corp (Nasdaq:DJCO), Silver StandardResources Inc (Nasdaq:SSRI), First Citizens Bancorp (Nasdaq:FCZA) and TBS International Ltd (Nasdaq:TBSI).

Small-caps stocks opened slightly higher, but slipped into negative territory within 25 minutes as the market juggles positive input from commodities against soft financial shares. There is something of a waiting game going on right now in anticipation of the automaker bailout, FOMC Tuesday and wreckage from the multi-billion investor swindle that was revealed late last week. At 9:57 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.42, or 0.30%, at 467.01.

The market is waiting for news today on the bailout proposal by White House officials for the beleaguered auto sector. Hopes for a quick package to keep U.S. carmakers away from bankruptcy played a big role in overnight gains in Asian trading.

In addition, market watchers continue to keep tabs on the Madoff trading scandal, to try and see just how deep the losses will run and what impact it will have on high-end investor funds and confidence in the trading community.

The first batch of economic data this week focused on the manufacturing sector of the economy. The numbers were predictably awful, with the New York Manufacturing Survey notching a record low reading of minus 25.8; ironically, that was still better than the projection of minus 27.5, which underscores just how bleak expectations are running right now. In the wake of the NY report, the industrial production release came out at minus 0.6%, which was also better than the forecast for a slide of 0.9%. In overnight action, the Bank of Japan’s “tankan” survey showed the largest collapse in manufacturing confidence in 34 years, but it didn’t stop the Japanese stock market from soaring 5.2% overnight amid hope for a bailout of U.S. automakers.

European shares were basically flat heading into the U.S. open, but Asian markets were in rally mode overnight. In addition to the big gains in Japan, Hong Kong shares were up 1.9%, Taiwan up 2.9%, South Korea up 4.8%, India up 1.4%, Australia up 2.3%, Singapore up 1.9% and China up 0.7%.

Energy markets were on firm footing this morning, which should provide a lift to energy-related stocks. Crude oil prices were up some $3 a barrel into . . .

Small-caps stocks opened slightly higher, but slipped into negative territory within 25 minutes as the market juggles positive input from commodities against soft financial shares. There is something of a waiting game going on right now in anticipation of the automaker bailout, FOMC Tuesday and wreckage from the multi-billion investor swindle that was revealed late last week. Some of today’s small-cap gainers are Gaylord Entertainment Co. (NYSE:GET), Clearwire Corp. (Nasdaq:CLWRD) and Ciena Corporation (Nasdaq:CIEN).

Other Market Watch highlights today included:

• Crude oil prices were up some $3/barrel into the open, pushing back above the key $50 level ahead of an OPEC meeting later this week.
• Energy markets were on firm footing this morning, which should provide a lift to energy-related stocks.  
• European shares were basically flat heading into the U.S. open, but Asian markets were in rally mode overnight.  
• Hopes for a quick package to keep U.S. carmakers away from bankruptcy played a big role in overnight gains in Asian trading.

Small Cap Gainers:

• Gaylord Entertainment Co. jumped 37% following a bullish article in Barron’s. See (NYSE:GET). 
• Clearwire Corp. rose 17% without any apparent fresh news behind the move. See (Nasdaq:CLWRD).  
• Ciena Corporation is up 8.5% in pre-market, recouping some of the drastic losses the stock saw last week after posting an unexpected Q4 loss. See (Nasdaq:CIEN).
• China Sunergy to supply 22MW solar cells to Solarwatt; shares rise 7% in pre-market. See (Nasdaq:CSUN).  

Small Cap Losers:

• Huntsman Corp. tumbled 32% on news that the company terminated a takeover deal from a chemical firm. See (NYSE:HUN).  
• Universal Truckload Services Inc. slumped 18% giving back a nice rally from last week in one quick downside swoon. See (Nasdaq:UACL).  
• Rofin-Sinar Technologies, Inc. falls 12% in pre-market after lowering Q1 2009 revenue guidance. See (Nasdaq:RSTI). 
• UAL Corp., parent company of United Airlines, is down over 3% in pre-market, despite raising $150 million on sale leaseback agreement. See (Nasdaq:UAUA).  

Looks like we’re back in the slump we saw pervade October trading. Small caps plummeted 6.12% today and are now down 41% for the year. Today’s small-cap gainers are ATA Inc. (Nasdaq:ATAI), ARYx Therapeutics (Nasdaq:ARYX) and Imperial Sugar (Nasdaq:IPSU).

Other Market Watch highlights today included:

• Anything currently linked to Russia is trouble; the Russian Stock Exchange closed for two days to stem massive selling in Russian equities.
• For 2008, the Russell is now down 41%, while the Dow is off 38% and the S&P 500 is down 42%.
• Including action since mid-September, this was the eighth session sporting a loss of 5% or more.
• Energy and other commodity values remain a bearish element for many stocks right now. 
• Crude oil prices in the U.S. tumbled $3.17 a barrel to $56.16, the lowest closing price since January 2007.
• Copper and aluminum prices slumped to three-year lows in overseas trading (although copper did close slightly higher in U.S. trading). 
• Energy shares were a drag on the market, with the Energy SPDR Fund off 8.1%.

Small Cap Gainers:

• ATA Inc. rallied 19% as the Chinese computer testing firm reported earnings. See (Nasdaq:ATAI).
• ARYx Therapeutics swings to profit in Q3; shares up a whopping 47%. See (Nasdaq:ARYX). 
• Imperial Sugar Co. jumped nearly 15% as the sugar processing firm extended a recent upside push from the October lows. See (Nasdaq:IPSU).
• Embattled Dow component General Motors Corp. was up 5.4% on talk that legislators are warming up to ideas to help provide financial assistance . . .

Small-cap stocks went into freefall mode Wednesday, burdened by new plans for the troubled asset relief program (TARP), ongoing worries about corporate profitability, money flow out of equities into credit markets, further downside probing in commodities to 5-year lows and renewed concerns about consumer spending in a difficult economic environment. The Russell 2000 (NYSE:IWM) closed down 29.49, or 6.12% at 452.80, the second-lowest daily close in more than five years. For 2008, the Russell is now down 41%, while the Dow is off 38% and the S&P 500 is down 42%.

We’ve all become somewhat numb to mind-boggling daily volatility since the collapse kicked into gear, but to give some perspective, if you went back before the stock market crash began in mid-September, today’s slide would have been the largest one-day swoon of the year. Including action since mid-September, this was the eighth session sporting a loss of 5% or more.

The market was already in a fragile frame of mind this morning after Best Buy Co. Inc. (NYSE:BBY) lowered its outlook, which stirred worries about consumer spending heading toward the key holiday season. With two-thirds of the U.S. economy driven by consumer spending, a picture of rising unemployment and a dreary outlook for next year make for a troubling brew. BBY shares lost 8% on the day, while the S&P Retail Index was off 5.7%.

Then after the BBY scare, investor confidence seemed to be shaken even more by the Treasury Department’s decision to scrap the original rescue plans of using $700 billion in TARP funds to buy up toxic debt and instead divert money into more capital injections. Those investor concerns appear to be two-fold: first, there is a perception that the government still is bouncing back and forth trying to put out fires instead of having a deliberate plan of attack to help restore financial solvency. Second, there is a chance that if the government funnels billions of dollars into these financial firms it will dilute share-holder equity. The PHLX KBW Banking Index was off 6.1%.

When the TARP was first approved by Congress back on Oct. 3, the Russell was at 619.40. After putting $350 billion to “work” to rescue the market out of the credit crisis, the Russell is now at 452.80. Clearly, there is still work to be done. And the longer the market struggles the more likely it is that public frustration over . . .

Gaylord Entertainment Co. (Nasdaq:GET), Live Nation Inc. (Nasdaq:LYV) and Symmetry Medical Inc. (Nasdaq:SMA) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Layne Christensen Co. (Nasdaq:LAYN), US Airways Group Inc. (Nasdaq:LCC), Diana Shipping Inc. (Nasdaq:DSX), VIST Financial Corp. (Nasdaq:VIST), Callon Petroleum Co. (Nasdaq:CPE) and AK Steel Holding Corp. (Nasdaq:AKS).