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FST, ME, PDS, CIT. Abnormal Price Friction In Morning Trading Session Today

^{Published on 2009-07-06 07:41:20, Last Modified on 2010-12-22 14:25:37 - WOPRAI}
 

July 6, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for July 6, 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. Forest Oil Corp (NYSE: FST), Mariner Energy (NYSE: ME), Precision Drilling Trust (NYSE: PDS) and CIT Group (NYSE: CIT). 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

FST -$0.97 -6.82% 228,080 41.17% 208,884 37.71% 19,196 abnormal

ME -$0.96 -8.47% 175,657 49.09% 133,901 37.42% 41,756 abnormal

PDS -$0.42 -8.75% 214,653 45.29% 202,160 42.65% 12,493 abnormal

CIT -$0.18 -9.05% 2,294,618 39.15% 2,214,160 37.78% 80,458 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 Monday, July 6th, 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 FST with 19,196 greater shares of buying than selling (NetVol) and the stock price is down -$0.97. 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.

Forest Oil Corporation (NYSE: FST) engages in the acquisition, exploration, development, and production of natural gas and liquids primarily in North America. The company principally sells natural gas on a month-to-month basis in the spot market under short-term contracts. As of December 31, 2008, its proved reserves were approximately 2,668 billion cubic feet equivalent. The company was founded in 1916 and is based in Denver, Colorado with additional offices in Houston, Texas; and Calgary and Alberta, Canada.

Mariner Energy, Inc. (NYSE: ME) operates as an independent oil and gas exploration, development, and production company. The company has operations principally in the Spraberry, Dean, Wolfcamp, and Wolfberry trends located in the Permian Basin in Texas; and in the Gulf of Mexico, both shelf and deepwater. As of December 31, 2008, it had estimated proved reserves of 973.9 billion cubic feet equivalent. The company was incorporated in 1983 and is headquartered in Houston, Texas with additional offices in Midland, Texas; and Lafayette, Louisiana.

Precision Drilling Trust (NYSE: PDS), through its subsidiaries, provides contract drilling, and completion and production services to the oil and gas exploration and production companies in Canada, the United States, and internationally. The contract drilling services include land drilling and trucking services, and camp and catering services, as well as consist of the procurement and distribution of oilfield supplies, and manufacture and refurbishment of drilling and service rig equipment. The completion and production services include service rig well completion and workover services, snubbing services, and wastewater treatment services, as well as comprise the rental of oilfield surface equipment, tubulars and well control equipment, and wellsite accommodations. As of December 31, 2008, the company had 220 land drilling rigs, 229 well completion and workover service rigs, 29 snubbing units, and approximately 12,000 rental items in Canada. It had 151 land drilling rigs in the United States, 2 rigs in Mexico, and 1 in Chile. The company was founded in 1951 and is headquartered in Calgary, Canada.

CIT Group Inc. (NYSE: CIT) operates as the holding company for CIT bank that provides commercial financing and leasing products, and management advisory services to the small and middle market companies worldwide. Its products principally include asset based loans; secured lines of credit; operating, capital, and leveraged leases; vendor finance programs; import and export financing; debtor-in-possession/turnaround financing; acquisition and expansion financing; letters of credit/trade acceptances structuring; and small business loans. The companya�s services primarily comprise financial risk management; asset management and servicing; merger and acquisition advisory services; debt restructuring; credit protection; accounts receivable collection; debt underwriting and syndication; capital markets; and insurance services for small businesses and middle market customers. It serves clients in various industries, including transportation, particularly aerospace and rail, manufacturing, wholesaling, retailing, healthcare, communications, media and entertainment, and various service-related industries. The company was founded in 1908 and is headquartered in New York, New York.

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