RTP, HDB, RGS, CNQ, IBN, IFN. Top Losing Stocks With Negative Price Friction In Morning Trade Today
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. Rio Tinto (NYSE: RTP), HDFC Bank (NYSE: HDB), Regis Corp (NYSE: RGS), Canadian Natural Resources (NYSE: CNQ), ICICI Bank (NYSE: IBN) and India Fund (NYSE: IFN). 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
RTP -$10.44 -6.59% 152,999 35.12% 171,202 39.30% -18,203 -17
HDB -$6.68 -6.55% 58,502 39.58% 63,949 43.27% -5,447 -8
RGS -$3.85 -22.58% 129,021 34.93% 158,447 42.89% -29,426 -76
CNQ -$3.34 -6.59% 301,739 33.90% 391,849 44.03% -90,110 -270
IBN -$1.99 -6.67% 402,131 40.38% 426,262 42.80% -24,131 -121
IFN -$1.89 -6.12% 48,304 27.54% 112,749 64.27% -64,445 -341
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 RTP with a dollar loss this morning of -$10.44 and a Friction Factor of -17 shares. That means that it only takes 17 more shares of selling than buying to move RTP 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.
Rio Tinto plc (NYSE: RTP) engages in mining and processing mineral resources. The company produces aluminum products, including bauxite, alumina, and aluminum; copper and diamonds, such as copper in concentrate, refined copper, gold, silver, molybdenum, magnetite, vermiculite, and diamonds; energy and mineral products that consist of coking and thermal coal, uranium, titanium dioxide, feedstock, borates, and talc; and iron ore products, including iron ore, pig iron, salt, and gypsum. It also engages in the production and sale of cathode blocks, anodes, aluminum fluoride, and calcined coke; and provision of engineering services and sale of smelting equipment, as well as the sale of electricity. Rio Tinto plc has operations in North America; Europe; Japan, China, and other Asian countries; Australia; New Zealand; and internationally. The company was founded in 1873 and is headquartered in London, the United Kingdom. Rio Tinto plc is a subsidiary of Rio Tinto Group.
HDFC Bank Limited (NYSE: HDB) provides various financial products and services. It operates in three segments: Retail Banking, Wholesale Banking, and Treasury. The Retail Banking segment provides various deposit products, including savings accounts, current accounts, fixed deposits, and demat accounts. It also offers auto, personal, commercial vehicle, home, gold, and educational loans; loans against securities, property, and rental receivables; and health care finance working capital finance, construction equipment finance, and warehouse receipt loans, as well as credit cards, debit cards, depository, investment advisory, bill payments, and transactional services. In addition, this segment sells third party financial products, such as mutual funds and insurance, as well as distributes life and general insurance products through its tie-ups with insurance companies and mutual fund houses. The wholesale banking segment provides loans, non-fund facilities, and transaction services to large corporate, emerging corporate, small and medium enterprise, supply chain, public sector undertaking, central and state government departments, and institutional customers. It offers deposit and transaction banking products, supply chain financing, working capital and term finance, agricultural loans, and funded, non-funded treasury, and foreign exchange products. This segmenta�s services include trade services, cash management, money market, custodial, tax collection, and electronic banking. In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks, and regional rural banks; and wealth management products for non-resident Indians. The Treasury Services segment operates primarily in areas, such as foreign exchange, money market, interest rate trading, and equities. As of March 31, 2009, HDFC Bank had a network of 1,412 branches and 3,295 automated teller machines in 528 cities in India. The company was founded in 1994 and is based in Mumbai, India.
Regis Corporation (NYSE: RGS) engages in the ownership, operation, and franchising of hairstyling and hair care salons in the United States, the United Kingdom, Canada, Puerto Rico, and internationally. It offers haircutting and styling, including shampooing and conditioning; and hair coloring to men, women, and children. The company also owns and operates hair restoration centers, which provide hair systems, hair transplants, and hair therapy services. Regis Corporationa�s salons operate primarily under the Regis Salons, MasterCuts, Trade Secret, SmartStyle, Supercuts, Cost Cutters, and Sassoon trade names in malls, department stores, mass merchants, and high-street locations. As of June 30, 2008, it owned, franchised, or held ownership interests in approximately 13,550 locations. The company was founded in 1922 and is headquartered in Edina, Minnesota.
Canadian Natural Resources Limited (NYSE: CNQ) engages in the exploration, development, and production of crude oil and natural gas. The company also engages in the midstream activities, which include its pipeline operations and an electricity co-generation system. Its conventional crude oil and natural gas operations are focused primarily in western Canada, the United Kingdom portion of the North Sea, and offshore West Africa. The company holds interests in the Horizon Oil Sands project located in the north of Fort McMurray for producing synthetic crude oil through bitumen mining and upgrading operations. Canadian Natural Resources Limited was founded in 1973 and is headquartered in Calgary, Canada.
ICICI Bank Limited (NYSE: IBN) provides banking products and financial services in the areas of investment banking, life and non-life insurance, venture capital, and asset management to corporate and retail customers. It offers savings accounts, fixed deposits, security deposits, recurring deposits, child education plans, salary accounts, EEFC accounts, and resident foreign currency accounts; and consumer and commercial cards. The company also provides home loans, automobile loans, commercial business loans, two wheeler loans, personal loans, and credit cards, as well as dealer funding and financing products, and loans against securities and gold. In addition, it offers tax saving bonds, government of India bonds, mutual funds, initial public offers, investment in gold, foreign exchange services, and senior citizens savings schemes; and health, overseas travel, student medical, motor, home, and life insurance products. Further, the company provides dematerialization services; NRI services, such as accounts, money transfer, investments, property solutions, and loans; and online services, such as bill payment, shopping, ticket booking, account to card transfer, prepaid mobile recharge, share trading, money order, and customer services. Additionally, it offers business services, which include transaction banking, treasury banking, investment banking, capital market, custodial, international banking, rural and agri banking, structured finance, and technology finance; and kiosk banking, inquiry card, payment cards, phone and mobile banking, and online tax services, as well as cash management services, business loans, current accounts, trade, and other services for small and medium sized enterprises. As of March 31, 2009, the company had a network of 1,419 branches and extension counters, and 4,713 ATMs in India and internationally. ICICI Bank Limited was founded in 1955 and is based in Mumbai, India.
India Fund, Inc. (NYSE: IFN) is a close ended equity mutual fund launched by The Blackstone Group. It is managed by Blackstone Asia Advisors L.L.C. The fund invests in public equity markets of India. It seeks to invest in stocks of small-cap, mid-cap and large-cap companies. The fund employs a quantitative and fundamental analysis with a bottom-up stock picking and asset allocation approach to create its portfolio. It benchmarks the performance of its portfolio against the IFC Investable India Index. The fund was formed on December 27, 1993 and is domiciled in the United States.
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