Stocks are enjoying a near-unanimous rally in fairly light trading Monday. At midday, the S&P/TSX composite index is up 62 points to 6,712.

Volume is on the light side at 90 million shares, but it is certainly bullish, with buying swamping selling by a margin of 11 to three. Market breadth is narrower, but still strongly bullish, with winners outnumbering losers 22:15.

Every sector on the TSX is up today, led by a 2% gain in techs and a 1.5% move in industrials. Other notable movers include energy, financials, golds and consumer stocks.

The trading looks like a revenge of the dogs, as beaten up names lead the rally. Nortel is leading the tech group higher with a 4% gain on more than 10.5 million shares. It is closely followed by a 4% gain in Bombardier, on heavy volume of 7.3 million shares. Air Canada is up 8.5% on strong volume of its own.

Bank of Nova Scotia is powering the financials higher, up 1.1% in strong trading. Barrick is up 1.1%, and EnCana has added 1.4% in active trading. Canadian Tire and Gildan are leading consumer stocks up, each with 3% gains.

Other notable gainers include names such as Southwestern Resources, Endev Energy, Aurizon Mines, Ketch Resources and Cequel Energy.

On the downside, there is a bit of selling in Astral Media, Telus and Shaw Communications. Fairfax has backed off its recent gains. And, there is some selling in Linamar, Abitibi, Potash and Biovail.

In business news, Rona reports that it may add a secondary offering to its planned new issue, due to strong demand for its shares. It says that the underwriters have approached the company to initiate discussions with one of its shareholders to offer a portion of that shareholder’s shares to the public. The decision to proceed with this secondary offering will be made when the prospectus is finalized. The company will not receive any of the proceeds from the sale of the shares in this secondary offering.

On the M&A front, Sun Media’s wholly owned subsidiary, Bowes Publishers, has sold its properties in B.C. to Black Press Ltd. for an undisclosed amount. The newspapers include the Penticton Western, Summerland Review, Revelstoke Times Review, Golden Star and Invermere Valley Echo. Also included in this sale is a printing plant located in Penticton, B.C.

In New York, stocks are banging their way higher. The Dow Jones industrial average is up 97 points to 8,701. The S&P 500 has gained 10 ticks to 943. The Nasdaq composite index is 20 points higher at 1,540.

The S&P/TSX Venture index is up just a single point to 1,066. Small cap volume is on the low side today at 13.9 million shares. Advectus Life Sciences is the top trader, flat at 4.5¢, with 489,000 shares changing hands.