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VQ, TC, TTM, SAH, PCX, MTL. Top Losing Stocks With Negative Price Friction In Morning Trade Today

^{Published on 2009-06-17 09:26:53, Last Modified on 2010-12-22 14:14:48 - WOPRAI}
 

June 17, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for June 17, 2009. Since late October market makers are now required to be on the bid as much as they are on the offer and for like amounts of stock. This fair market making requirement is designed to prevent market makers from manipulating stock prices. Here is a list of the top companies with the largest losses this morning and negative price friction (bearish). This means that there was more selling than buying in the stocks and their stock prices dropped faster with less Friction. Venoco (NYSE: VQ), Thompson Creek Metals (NYSE: TC), Tata Motors (NYSE: TTM), Sonic Automotive (NYSE: SAH), Patriot Coal (NYSE: PCX) and Mechel (NYSE: MTL). To access Friction Factor, Naked Short Data and SqueezeTrigger Prices on all stocks please visit http://www.buyins.net .

Market Maker Friction Factor is shown in the chart below:

Symbol Change % BuyVol Buy% SellVol Sell% NetVol Friction

VQ -$0.81 -9.29% 9,900 20.42% 27,072 55.85% -17,172 -212

TC -$0.80 -7.50% 196,407 30.32% 324,112 50.04% -127,705 -1,596

TTM -$0.78 -8.18% 316,342 30.86% 495,983 48.39% -179,641 -2,303

SAH -$0.74 -7.85% 65,734 33.00% 109,502 54.97% -43,768 -591

PCX -$0.70 -8.74% 1,788,596 39.25% 2,007,988 44.07% -219,392 -3,134

MTL -$0.70 -7.45% 257,462 32.06% 483,349 60.18% -225,887 -3,227

Click here to view chart:

Analysis of the Friction Factor chart above shows that each of the six stocks mentioned above have high net dollar losses (Change) and extremely low price friction in their stocks. The Friction Factor displays how many more shares of buying than selling are required to move a stock higher by one cent or how many more shares of selling than buying moves a stock lower by 1 cent.

For example, the chart above shows VQ with a dollar loss today of -$0.81 and a Friction Factor of -212 shares. That means that it only took 212 more shares of selling than buying to move VQ lower by one penny. This means the Market Makers are allowing the stock to drop quickly (low friction). The combination of low friction and negative market direction can drive prices lower faster than normal.

Venoco, Inc. (NYSE: VQ), an independent energy company, engages in the acquisition, exploration, exploitation, and development of oil and natural gas properties. The company�s principal properties are located both onshore and offshore Southern California, onshore in California�s Sacramento Basin, and onshore along the Gulf Coast of Texas. As of December 31, 2008, it had proved reserves of approximately 97.5 MMBOE. The company was founded in 1992 and is based in Denver, Colorado with additional offices in Carpinteria, California and Houston, Texas.

Thompson Creek Metals Company Inc. (NYSE: TC), through its subsidiaries, engages in mining, milling, processing, and marketing molybdenum products in Canada and the United States. The company owns the Thompson Creek Mine in Idaho; a 75% interest in the Endako Mine, mill, and roasting facility in northern British Columbia; and a metallurgical roasting facility in Langeloth, Pennsylvania. It also holds interest in the Davidson molybdenum property located in British Columbia; and the Mount Emmons molybdenum property situated in Colorado. Thompson Creek Metals Company produces primarily molybdenum products, including technical molybdenum oxide in powder or briquettes, pure molybdenum trioxide, and ferromolybdenum. The company was formerly known as Blue Pearl Mining Ltd. and changed its name to Thompson Creek Metals Company Inc. in May 2007. Thompson Creek Metals Company is based in Denver, Colorado.

TATA MOTORS LIMITED (NYSE: TTM) manufactures commercial and passenger vehicles primarily in India. It offers passenger cars; multi-utility vehicles; and light, medium, and heavy commercial vehicles, including mini-truck, light two-tonne truck, heavy dumpers, and multi-axled vehicles, as well as high horsepower vehicles for dump trucks, tractor-trailers, mixers, and cargo applications. The company also provides passenger buses in the light, medium, and heavy segments, such as Magic, a four-wheeler public transport developed on the Ace platform; and Winger, a maxi-van. The company, through its subsidiaries, also engages in the provision of the construction equipment, engineering solutions, supply chain management, after-market operations, and software operations; manufactures a range of machine tools; and gearboxes and axles for heavy and medium commercial vehicles. In addition, TATA MOTORS provides automotive retailing and services, as well as financing for the vehicles sold by the company. It also exports its products in Europe, Africa, the Middle East, south Asia, south east Asia, and South America. The company has a strategic alliance agreement with Union Bank of India for financing its range of passenger vehicles. TATA MOTORS was founded in 1945 and is based in Mumbai, India. Tata Motors Limited is a part of Tata Group.

Sonic Automotive, Inc. (NYSE: SAH) operates as an automotive retailer in the United States. As of March 19, 2009, the company operated 164 dealership franchises at 135 dealership locations, representing 33 brands of cars and light trucks, and 31 collision repair centers in 15 states. Its dealerships provide various services, including the sale of new and used cars, and light trucks; the sale of replacement parts, as well as the performance of vehicle maintenance, warranty, paint, and repair services; and the arrangement of extended service contracts, financing and insurance, and other aftermarket products for its automotive customers. The company was founded in 1997 and is headquartered in Charlotte, North Carolina.

Patriot Coal Corporation (NYSE: PCX) engages in the production and sale of thermal coal in the United States. It has operations and coal reserves in Appalachia and the Illinois Basin. The company provides its thermal coal to electric utilities, as well as metallurgical coal to steel mills and independent coke producers. It has 16 company-operated mines, contractor-operated mines, and coal preparation facilities that are located in northern West Virginia, southern West Virginia, and western Kentucky. As of December 31, 2008, the company controlled approximately 1.8 billion tons of proven and probable coal reserves. Patriot Coal Corporation, through its subsidiary, Magnum Coal Company, operates 11 coal mines and 7 preparation plants with production from surface and underground mines located in Appalachia, as well as controls approximately 600 million tons of proven and probable coal reserves. The company is based in St. Louis, Missouri.

Mechel OAO (NYSE: MTL), an open joint stock company, through its subsidiaries, operates as a mining and steel company. The company engages in the production and sale of coking and steam coal concentrate, steam coal, iron ore concentrate, and ferronickel that are used in the production of steel. It also produces semi-finished steel products; carbon and specialty long products; carbon and stainless flat products; value-added downstream metal products, including hardware, forgings, and stampings; high grade ferrosilicon; and coke and coking products. As of January 1, 2008, the company had proven and probable reserves of 510.3 million tones of coal; 50.9 million tones of iron ore; 12.0 million tones of nickel ore; and 17.4 million tones of limestone. Mechel OAO sells its products in Russia, other Common Wealth of Independent States, Europe, Asia, the Middle East, and the United States. The company was founded in 2003 and is headquartered in Moscow, Russia.

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