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SCHN, AGNC, IPI, ASBC, TNE, CAR. Abnormal Price Friction In Morning Trading Session Today

^{Published on 2009-06-30 07:39:29, Last Modified on 2010-12-22 14:19:43 - 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 companies with Abnormal Price Friction (unfair market) in their stock prices in todaya�s trading session. This means that there was more buying than selling in the stocks and their stock prices dropped. Schnitzer Steel (NASDAQ: SCHN), American Capital Agency (NASDAQ: AGNC), Intrepid Potash (NYSE: IPI), Associated Bancorp (NASDAQ: ASBC), Tele Norte Leste (NYSE: TNE) and Avis Budget Group (NYSE: CAR). 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

SCHN -$4.30 -7.14% 483,632 53.19% 424,062 46.64% 59,570 abnormal

AGNC -$1.87 -7.87% 79,935 51.20% 74,998 48.03% 4,937 abnormal

IPI -$1.11 -3.87% 399,152 56.62% 235,485 33.40% 163,667 abnormal

ASBC -$1.07 -8.00% 572,028 52.64% 508,366 46.78% 63,662 abnormal

TNE -$0.71 -4.52% 606,262 51.51% 532,602 45.25% 73,660 abnormal

CAR -$0.34 -6.00% 375,664 44.75% 348,255 41.48% 27,409 abnormal

Click here to view chart:

Analysis of the Friction Factor chart above shows that each of the stocks mentioned above had more buying than selling on Tuesday, June 30th, 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 SCHN with 59,570 greater shares of buying than selling (NetVol) and the stock price is down -$4.30. 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.

Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) engages in recycling ferrous and nonferrous metals, and used and salvaged vehicles; and manufacturing finished steel products in the United States and Canada. The company operates through three segments, Metals Recycling Business (MRB), Auto Parts Business (APB), and Steel Manufacturing Business (SMB). The MRB segment involves in the purchase, collection, processing, recycling, sale, trading, and broking of recycled ferrous metals. It processes large pieces of scrap metal into smaller pieces by sorting, shearing, shredding, and torching. This segmenta�s products include ferrous products, including shredded, sheared, torched and bundled scrap metal, and other purchased scrap metal; and nonferrous scrap metals, including aluminum, copper, stainless steel, nickel, brass, titanium, and high temperature alloys. The APB segment purchases used and salvaged vehicles, and sells used parts from these vehicles through its auto parts stores. As of August 31, 2008, it operated 56 auto parts stores located in the United States and Canada. The SMB segment engages in the purchase of recycled metal and processing of the recycled metal and other raw materials into finished steel products. Its product portfolio comprises rebar, coiled rebar, wire rod, merchant bar, and other specialty products. This segment serves steel service centers, construction industry subcontractors, steel fabricators, wire drawers, and farm and wood product suppliers. Schnitzer Steel Industries was founded in 1946 and is headquartered in Portland, Oregon.

American Capital Agency Corp. (NASDAQ: AGNC) operates as a real estate investment trust. It primarily invests in agency securities for which the principal and interest payments are guaranteed by a U.S. Government agency, such as the Government National Mortgage Association, or Ginnie Mae; a U.S. Government sponsored entity, such as the Federal National Mortgage Association, or Fannie Mae; and the Federal Home Loan Mortgage Corporation, or Freddie Mac. The company funds its investments primarily through short-term borrowings structured as repurchase agreements. AGNC is externally managed and advised by American Capital Agency Management, LLC, a subsidiary of a wholly-owned portfolio company of American Capital, Ltd., an alternative asset manager included in the S&P 500. The company is based in Bethesda, Maryland.

Intrepid Potash, Inc. (NYSE: IPI), together with its subsidiaries, engages in the production and marketing of muriate of potash or potassium chloride and langbeinite. It also offers by-products, including salt, magnesium chloride, and metal recovery salts. Intrepid serves agricultural, industrial, and feed markets. The company was founded in 2000 and is based in Denver, Colorado.

Associated Banc-Corp (NASDAQ: ASBC) operates as the bank holding company in the United States. The company offers various banking and financial services to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. It operates in two segments, Banking and Wealth Management. The Banking segment accepts checking and savings accounts, money market deposits, IRA accounts, and certificates of deposit. It offers home equity loans and lines of credit, residential mortgage loans and mortgage refinancing, education loans, and personal and installment loans, as well as business loans, lines of credit, commercial real estate financing, construction loans, letters of credit, revolving credit arrangements, business credit cards, and equipment and machinery leases. In addition, this segment provides safe deposit and night depository, cash management, international banking, check clearing, and safekeeping services. The Wealth Management segment provides various fiduciary, investment management, advisory, and corporate agency services for individuals, corporations, small businesses, charitable trusts, endowments, foundations, and institutional investors. This segment also offers life, property, casualty, and credit and mortgage insurance, as well as fixed annuities and employee group benefits consulting and administration services; investment brokerage, variable annuities, and discount and online brokerage services; and trust/asset management, administration of pension, profit-sharing and other employee benefit plans, personal trusts, and estate planning services. The company offers its products through branch facilities, loan production offices, supermarket branches, a customer service call center, and an interstate automated teller machine network, as well as through phone and Internet banking. As of December 31, 2008, its bank subsidiary had 300 offices in approximately 160 communities. The company was founded in 1964 and is headquartered in Green Bay, Wisconsin.

Tele Norte Leste Participacoes S.A. (NYSE: TNE), a telecommunications company, together with its subsidiaries, provides telecommunication services in Brazil and South America. The company offers local fixed-line services in Region I, II, and III, including installation, monthly subscription, measured service, collect calls, and supplemental local services; network usage services, such as interconnections; and mobile telecommunications services. It also provides public telephone services; and intraregional and interregional domestic long-distance and international long-distance services placed through fixed-line and mobile telephones using its long-distance carrier selection code. In addition, the company involves in data transmission services comprising asymmetric digital subscriber line; switching packs and frame relay; the lease of digital and analog lines to corporate customers, telecommunications service providers, and Internet service providers; and Internet protocol and other data transmission services. Further, it offers value-added services, including voicemail, caller ID, and directory assistance; voice services to corporate customers, such as 0800 (toll free) services; and pay and subscription television network supports advanced services, including prepaid and toll-free products. The company serves residential clients; small, medium, and large companies; and governmental agencies. As of December 31, 2007, its mobile network covered 986 municipalities in Region I consisting of 4,795 active radio base stations; and 15.9 million mobile subscribers. The company was founded in 1998 and is based in Rio de Janeiro, Brazil.

Avis Budget Group, Inc. (NYSE: CAR) provides car and truck rentals, and ancillary services to businesses and consumers in the United States and internationally. The company supplies rental cars to the premium commercial and leisure segments of the travel industry under the Avis brand name; and to the price-conscious segments of the industry under the Budget brand name. It also provides Avis Preferred, a counter bypass program; Where2, a GPS navigation system; Avis Cool Cars, a line of fun-to-drive vehicles; Roving Rapid Return, a wireless technology, which permits customers to obtain a printed charge record from service agents; Avis Access, a program for drivers and passengers with disabilities; Avis Interactive, a management tool for corporate clients to view and analyze their rental activity via Internet through account analysis and activity reports; Avis First Program, a customer loyalty program that rewards customers with additional benefits for frequent rentals; and Chauffeur Drive, a service, which allows customers to hire a professional driver to drive their Avis rental car. In addition, the company offers Fastbreak, an expedited rental service for frequent travelers; Budget Small Business Program, a program for small businesses that offers discounted rates and central billing options; and Unlimited Budget, a loyalty program for travel professionals. Further, it engages in the sale and/or rental of supplemental equipment, loss damage waivers, additional/supplemental liability insurance, personal accident/effects insurance, fuel service options, fuel service charges, and electronic toll collection. It was formerly known as Cendant Corporation and changed its name to Avis Budget Group, Inc. in August 2006. Avis Budget Group was founded in 1946 and is based in Parsippany, New Jersey.

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