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IPI, GNK, GPI, FRO, MEE, MDR. Top Losing Stocks With Negative Price Friction In Morning Trade Today

^{Published on 2009-07-06 08:32:08, Last Modified on 2010-12-22 14:25:54 - 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 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. Intrepid Potash (NYSE: IPI), Genco Shipping (NYSE: GNK), Group 1 Automotive (NYSE: GPI), Frontline (NYSE: FRO), Massey Energy (NYSE: MEE) and McDermott International (NYSE: MDR). 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

IPI -$1.84 -6.64% 123,564 30.65% 160,102 39.71% -36,538 -199

GNK -$1.76 -8.40% 133,573 33.06% 172,531 42.71% -38,958 -221

GPI -$1.70 -6.66% 100,623 28.74% 133,379 38.09% -32,756 -193

FRO -$1.67 -7.15% 134,249 28.75% 242,191 51.87% -107,942 -646

MEE -$1.43 -7.84% 638,535 34.43% 849,593 45.81% -211,058 -1,476

MDR -$1.29 -6.67% 246,523 36.18% 341,285 50.08% -94,762 -735

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 IPI with a dollar loss this morning of -$1.84 and a Friction Factor of -199 shares. That means that it only takes 199 more shares of selling than buying to move IPI 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.

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.

Genco Shipping & Trading Limited (NYSE: GNK) engages in the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels worldwide. The company transports iron ore, coal, grain, steel products, and other drybulk cargoes. It serves trading houses, producers, and government-owned entities. As of December 31, 2008, Genco Shipping owned and operated a fleet of 32 drybulk carriers, including 6 capesize, 8 panamax, 4 supramax, 6 handymax, and 8 handysize drybulk carriers, with an aggregate carrying capacity of approximately 2,396,500 deadweight tons. The company was founded in 2004 and is based in New York, New York.

Group 1 Automotive, Inc. (NYSE: GPI), through its subsidiaries, operates in the automotive retail industry. The company sells automotive products, including new and used cars and light trucks, as well as arranges related financing. It also offers replacement parts, warranty, vehicle service and insurance contracts, and maintenance and repair services. As of December 31, 2008, the company owned and operated 127 franchises at 97 dealership locations and 23 collision service centers in the United States of America; and 6 franchises at 3 dealerships and 2 collision centers in the United Kingdom. Group 1 Automotive has operations in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, Oklahoma, South Carolina, and Texas in the United States, as well as in Brighton, Hailsham, and Worthing in the United Kingdom. Group 1 Automotive was founded in 1995 and is headquartered in Houston, Texas.

Frontline Ltd. (NYSE: FRO), through its subsidiaries, engages in the ownership and operation of oil tankers, including oil/bulk/ore (OBO) carriers. It primarily transports crude oil, as well as raw materials, such as coal and iron ore. The companya�s very large crude carriers (VLCCs) primarily transport crude oil from the Middle East Gulf to the Far East, Northern Europe, the Caribbean, and the Louisiana Offshore Oil Port. Its Suezmax tankers trade in the Atlantic Basin and the Middle East to the South East Asia. The company also carries oil and dry cargo through its OBO carriers. In addition, it involves in the charter, purchase, and sale of vessels. The company serves oil companies, petroleum products traders, government agencies, and various other entities. As of February 28, 2009, it operated a tanker fleet consisting 83 vessels, which comprised 41 VLCCs, which are between 200,000 and 320,000 deadweight ton (dwt); 30 Suezmax tankers, which are vessels between 120,000 and 170,000 dwt; 8 Suezmax OBOs, which are chartered; and 4 VLCCs under its commercial management. Frontline Ltd. was founded in 1948 and is based in Hamilton, Bermuda.

Massey Energy Company (NYSE: MEE), through its subsidiaries, produces, processes, and sells bituminous coal primarily in the United States. The companya�s customers include electric utilities, steel manufacturers, industrial customers, and energy traders and brokers. As of January 31, 2009, it owned and operated approximately 160 wells, 200 miles of gathering line, and a range of small compression facilities in Appalachian Basin. The company also operated 66 mines, including 46 underground and 20 surface in West Virginia, Kentucky, and Virginia. Massey Energy Company distributes its products through freight and terminal agreements with various providers, including railroads, barge lines, ocean-going vessels, bulk motor carriers, and terminal facilities. The company was founded in 1912 and is headquartered in Richmond, Virginia.

McDermott International, Inc. (NYSE: MDR), through its subsidiaries, operates as an engineering and construction company worldwide. It operates in three segments: Offshore Oil and Gas Construction, Government Operations, and Power Generation Systems. The Offshore Oil and Gas Construction segment engages in the front-end design and detailed engineering, fabrication, and installation of offshore drilling and production facilities; and installation of marine pipelines and subsea production systems. It also provides project management and procurement services. In addition, this segment operates a fleet of marine vessels used in offshore construction and various fabrication facilities. The Government Operations segment manufactures and supplies nuclear components, fuels, and assemblies for government and commercial uses, as well as provides various services, including uranium processing, environmental site restoration services, and management and operating services for various U.S. Government-owned facilities primarily within the nuclear weapons complex of the U.S. Department of Energy. It also supplies research reactor fuel elements for colleges, universities, and national laboratories; offers uranium-based products used for medical isotopes; and converts or downblends high-enriched uranium into low-enriched fuel for use in commercial reactors to generate electricity, as well as provides heavy fabrications for industrial use, including components for defense applications. The Power Generation Systems segment supplies fossil-fired boilers, commercial nuclear steam generators and components, environmental equipment and components, and related services. It designs, engineers, manufactures, constructs and services utility and industrial power generation systems, including boilers used to generate steam in electric power plants, pulp and paper making, chemical and process applications, and other industrial uses. The company was founded in 1923 and is headquartered in Houston, Texas.

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