WLL, XTXI, BZH, ETFC, CTIC. Abnormal Price Friction In Morning Trading Session Today
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 companies with Abnormal Price Friction (unfair market) in their stock prices in today�s trading session. This means that there was more buying than selling in the stocks and their stock prices dropped. Whiting Petroleum (NYSE: WLL), Crosstex Energy (NASDAQ: XTXI), Beazer Homes (NYSE: BZH), eTrade Financial (NASDAQ: ETFC) and Cell Therapeutics (NASDAQ: CTIC). 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
WLL -$3.59 -8.77% 264,910 38.57% 264,465 38.50% 445 abnormal
XTXI -$0.33 -6.95% 78,724 54.52% 65,673 45.48% 13,051 abnormal
BZH -$0.23 -9.58% 314,608 51.14% 249,427 40.54% 65,181 abnormal
ETFC -$0.19 -11.52% 9,257,876 55.64% 7,443,542 44.74% 1,814,334 abnormal
CTIC -$0.15 -9.68% 4,279,702 50.31% 4,226,384 49.69% 53,318 abnormal
Click here to view chart:
Analysis of the Friction Factor chart above shows that each of the six stocks mentioned above had more buying than selling on Tuesday, June 16th, 2009 and their stock prices dropped. 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 ETFC with 1,814,334 greater shares of buying than selling (NetVol) and the stock price is down -$0.19. This means the Market Makers were trading the stock in a way inconsistent with normal supply and demand (Economics 101); more buying than selling should cause prices to rise.
Whiting Petroleum Corporation (NYSE: WLL) engages in the acquisition, development, exploitation, exploration, and production of oil and gas primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast, and Michigan regions of the United States. As of December 31, 2008, its estimated proved reserves were 239.1 million barrels equivalent of oil. The company had interests in 8,871 gross productive wells. Whiting Petroleum Corporation was founded in 1983 and is based in Denver, Colorado.
Crosstex Energy, Inc. (NASDAQ: XTXI), through its partnership interest in Crosstex Energy, L.P., engages in gathering, transmission, treating, processing, and marketing natural gas and natural gas liquids (NGLs) in the United States. The company connects the wells of natural gas producers in its market areas to its gathering systems; treats natural gas to remove impurities; processes natural gas for the removal of NGLs; fractionates NGLs into purity products; and transports natural gas to various markets. It also purchases natural gas from natural gas producers and other supply points; and sells that natural gas to utilities, industrial consumers, other marketers, and pipelines. In addition, it operates processing plants that process gas transported to the plants by interstate pipelines or from its own gathering systems. Further, the company purchases natural gas from producers not connected to gathering systems for resale and sells natural gas on behalf of producers. As of December 31, 2008, it operated approximately 5,700 miles of natural gas gathering and transmission pipelines, 12 natural gas processing plants, 4 fractionators, and 200 treating and dew point control plants. The company was founded in 1996 and is based in Dallas, Texas.
Beazer Homes USA, Inc. (NYSE: BZH) engages in the design, building, and sale of single-family and multi-family homes in the United States. It offers homes for entry-level, move-up, luxury, or retirement-oriented buyers. The company also provides title insurance services to its homebuyers. Beazer Homes USA sells its homes through commissioned employees and independent brokers. The company was founded in 1985 and is headquartered in Atlanta, Georgia.
E TRADE Financial Corporation (NASDAQ: ETFC), through its subsidiaries, provides online brokerage and related products and services primarily to individual retail investors, under the brand name of E*TRADE Financial worldwide. It offers various brokerage products and services, including automated order placement and execution of the U.S. and international equities, currencies, futures, options, exchange-traded funds, mutual funds, and bonds. The company also provides quick transfer, wireless account access, extended hours trading, quotes, research, and advanced planning tools. Its banking products and services include checking, savings, sweep, money market, and certificates of deposit products. E*TRADE Financial primarily provides its services through its Web site at etrade.com, as well as through its network of customer service representatives, relationship managers, and investment advisors. The company was founded in 1982 and is based in New York, New York.
Cell Therapeutics, Inc. (NASDAQ: CTIC), a biopharmaceutical company, develops, acquires, and commercializes oncology products for cancer treatment. Its development portfolio includes Pixantrone, a phase III trial product, for non-Hodgkin�s lymphoma; Brostallicin, which is in first-line Phase II study for the treatment of sarcoma; and OPAXIO, a chemotherapeutic agent for the potential treatment of non-small cell lung, ovarian, and other cancers. It has collaboration and licensing arrangements with Novartis International Pharmaceutical, Ltd.; and PG-TXL Company, L.P. The company was founded in 1991 and is headquartered in Seattle, Washington.
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