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PSEC, ABG, TTM, ZN, ZION, BVX. Top Losing Stocks With Negative Price Friction In Morning Trade Today

^{Published on 2009-06-30 09:35:34, Last Modified on 2010-12-22 14:20:06 - WOPRAI}
 

June 30, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for June 30, 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 afair market makinga 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. Prospect Capital (NASDAQ: PSEC), Asbury Automotive Group (NYSE: ABG), Tata Motors (NYSE: TTM), Zion Oil and Gas (AMEX: ZN), Zions Bancorp (NASDAQ: ZION) and Bovie Medical Corp (AMEX: BVX). 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

PSEC -$0.61 -6.18% 209,734 40.56% 243,815 47.16% -34,081 -559

ABG -$0.56 -5.10% 17,300 24.71% 34,099 48.71% -16,799 -300

TTM -$0.55 -5.85% 352,808 43.09% 373,805 45.65% -20,997 -382

ZN -$0.54 -4.47% 11,008 25.38% 17,924 41.33% -6,916 -128

ZION -$0.54 -4.41% 402,012 41.95% 455,589 47.55% -53,577 -992

BVX -$0.49 -5.37% 18,544 27.69% 36,338 54.25% -17,794 -363

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 PSEC with a dollar loss this morning of -$0.61 and a Friction Factor of -559 shares. That means that it only takes 559 more shares of selling than buying to move PSEC 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.

Prospect Capital Corporation (NASDAQ: PSEC) is a private equity and mezzanine debt firm specializing in secured debt and equity investments. The firm typically invests across all industry sectors, with a particular expertise in the energy and industrial sectors. Prospect invests in oil and gas production, coal production, materials, industrials, consumer discretionary, information technology, utilities, pipeline, storage, power generation and distribution, renewable and clean energy, oilfield services, healthcare, food and beverage, education, and other select sectors. The firm prefers to invest in the United States and Canada. It seeks to invest between $5 million to $100 million in companies with EBITDA between $4 million and $75 million, sales value up to $500 million, and enterprise value of up to $250 million. The firm also co-invests for larger deals. Prospect was founded in 1988 and is based in New York, New York.

Asbury Automotive Group, Inc. (NYSE: ABG) operates as an automotive retailer in the United States. It offers various automotive products and services, including new and used vehicles and related financing; vehicle maintenance and repair services; replacement parts; and warranty, insurance, and extended service contracts. The companya�s new vehicle sales comprise the sale of new vehicles, including light vehicles and heavy trucks to individual retail customers and commercial customers. Its used vehicle sales include the sale of used vehicles to individual retail customers and other dealers at auction. It arranges for the financing of the sale or lease of new and used vehicles to customers through third party vendors. As of December 31, 2008, the company operated 115 franchises at 87 dealership locations and 25 collision repair centers. Asbury Automotive Group was founded in 1995 and is headquartered in Duluth, Georgia.

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.

Zion Oil & Gas, Inc. (AMEX: ZN) operates as a development stage oil and gas exploration company. It holds two exploration licenses covering approximately 162,100 acres onshore in the State of Israel between Netanya in the south and Haifa in the north. The company was founded in 2000 and is based in Dallas, Texas.

Zions Bancorporation (NASDAQ: ZION) operates as a multi bank holding company that provides banking and related products and services. The company offers small and medium-sized business and corporate banking services; commercial and residential development, construction, and term lending services; retail banking services; treasury cash management and related products and services; residential mortgages; and trust and wealth management services. It also provides personal banking services to individuals, including home mortgages, bankcard, other installment loans, home equity lines of credit, checking accounts, savings accounts, time certificates, trust services, safe deposit facilities, and direct deposits. In addition, the company engages in the development and sale of financial technologies and related services, as well as involves in capital markets and public finance operations. Further, Zions Bancorporation provides the U.S. Small Business Administration (SBA) lending services to small businesses; secondary market agricultural real estate mortgage loans; municipal finance advisory and underwriting services; check imaging and clearing software; and Web-based medical claims tracking and cash management services. Additionally, the company offers construction and commercial real estate financing, real estate and consumer lending, depository services, international banking, and community development services. As of December 31, 2008, Zions Bancorporation, through its 8 commercial banks, operated a total of 513 branches and 625 ATMs in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington. The company was founded in 1955 and is headquartered in Salt Lake City, Utah.

Bovie Medical Corporation (AMEX: BVX) engages in the manufacture and marketing of medical products and the development of related technologies in the United States and Canada. The company offers electrosurgery products, which include desiccators, generators, electrodes, electrosurgery pencils, and various ancillary disposable products used in surgery for the cutting and coagulation of tissue; Bovie/Aaron 800 and 900 high frequency desiccators for dermatology and plastic surgery applications, such as removal of small skin lesions and growths; and Bovie/Aaron 950 high frequency desiccators for outpatient surgical procedures used in various specialties, including dermatology, gynecology, and plastic surgery. It also provides Bovie/Aaron 1250, a multipurpose electrosurgery generator; and Bovie/Aaron 2250/3250 and Bovie IDS 200/300/400, which is a multipurpose digital electrosurgery generator for the surgi-center market. In addition, the company offers ICON GI device, a specialty electrosurgical generator for the gastroenterological and niche markets; and Bovie Button, a device that eliminates the foot pedal and cables, which are associated with electrosurgical generators found in various GI labs. Further, it provides battery operated cauteries for precise hemostasis in ophthalmology; battery operated medical lighting instruments that are used in ophthalmology, as well as for general surgery, hip replacement surgery, and for the placement of endotracheal tubes in emergency and surgical procedures; nerve locator stimulator, which is used for identifying motor nerves in hand and facial reconstructive surgery; and endoscopic disposable and reusable modular instruments, including MEG handle and accessories, Polarian handle and accessories, and suture removal devices. The company was founded in 1982 and is based in Melville, New York.

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