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Market Maker Surveillance Report. GNTA, BAC, C, PFE, EEM, XLF, Highest Net Sell Volume and Negative Price Friction For Monday,

^{Published on 2010-11-23 07:02:00, Last Modified on 2010-12-22 19:29:55 - WOPRAI}
 

November 22, 2010 / M2 PRESSWIRE / BUYINS.NET / www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for Monday. Since October 2008 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 Fair Market Making Requirement is designed to prevent market makers from manipulating stock prices. On Monday there were 2579 companies with "abnormal" market making, 2431 companies with positive Friction Factors and 2816 companies with negative Friction Factors. Here is a list of the top companies with the highest net sell volume on Monday and lowest 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. GENTA INC (OTCBB:GNTA), BANK OF AMERICA CORP (NYSE:BAC), CITIGROUP INC (NYSE:C), PFIZER INC (NYSE:PFE), ISHARES MSCI EMERGING MKT IN (NYSE:EEM), FINANCIAL SELECT SECTOR SPDR (NYSE:XLF). 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       Percent      Buy Volume      Buy %%       Sell Volume     Sell %%      Net Volume      Friction
     GNTA       $-0.011      -25.63%      2,203,970       25.74%       5,584,267       65.23%       -3,380,297      -3      
     BAC        $-0.370      -3.17%       97,340,912      44.39%       106,552,519     48.59%       -9,211,607      -248,962
     C          $-0.080      -1.83%       156,047,076     43.70%       192,472,194     53.89%       -36,425,118     -5      
     PFE        $-0.160      -0.94%       11,415,130      35.55%       16,614,494      51.74%       -5,199,364      -324,960
     EEM        $-0.130      -0.28%       21,888,262      46.07%       25,551,862      53.78%       -3,663,600      -281,815
     XLF        $-0.210      -1.44%       39,446,601      38.91%       61,722,588      60.88%       -22,275,987     -1      

Analysis of the Friction Factor chart above shows that each of the six stocks mentioned above have low price friction combined with more selling than buying (negative Net Volume) 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 XLF down $-0.21000 with a Friction Factor of -1 and a Net Volume of -22,275,987. That means that it takes 1 more shares of selling than buying to drop XLF by one penny. On Monday the Market Makers allowed the stock to move down on heavier selling than buying (low negative friction).

GENTA INC (OTCBB:GNTA) - Genta Incorporated (Genta), incorporated in February 1988, is a biopharmaceutical company dedicated to the identification, development and commercialization of drugs for the treatment of cancer and related diseases. The Company's research portfolio consists of two major programs: deoxyribonucleic acid/ribonucleic acid (DNA/RNA) Medicines and Small Molecules. The DNA/RNA Medicines program includes drugs that are based on using modifications of either DNA or RNA as drugs that can be used to treat disease. This program includes technologies, such as antisense, decoys, aptamers and small interfering or micro RNA. The Company's lead drug from this program is an investigational antisense compound known as Genasense (oblimersen sodium injection). The Small Molecules program includes drugs that are based on gallium-containing compounds. The lead drug from this program is Ganite (gallium nitrate injection), which was approved by the United States Food and Drug Administration (FDA) in October 2003 for the treatment of patients with symptomatic cancer-related hypercalcemia that is resistant to hydration.

DNA/RNA Medicines Program

Genasense has been studied in combination with a range of anticancer drugs in a number of different cancer indications. Genta has reported results from three randomized Phase III trials of Genasense in malignant melanoma, chronic lymphocytic leukemia (CLL) and multiple myeloma. Under its own sponsorship or in collaboration with the United States National Cancer Institute (NCI), Genta is conducting a number of additional clinical trials.

In September 2003, Genta announced results of its randomized trial in patients with advanced melanoma, and the Company initiated submission of a new drug application (NDA) to the FDA for the use of Genasense plus chemotherapy in patients with this disease. In May 2004, the application failed to gain a majority vote for marketing approval from FDA's Oncology Drug Advisory Committee (ODAC). As a consequence, Genta withdrew the NDA, which allows the Company to potentially resubmit the application.

In February 2005, Genta completed 24 months of minimum follow-up for patients that had been specified in the clinical protocol. The data collected during this extended follow-up period were sufficiently encouraging that the Company elected to re-evaluate submission of the application for regulatory approval. On January 3, 2006, Genta announced that it had completed a marketing authorization application (MAA) to the European Medicines Agency (EMEA) that seeks approval for use of Genasense plus dacarbazine for the treatment of patients with advanced melanoma who have not previously received chemotherapy. This centralized licensing procedure provides a single marketing authorization that is valid in all 25 member-states of the European Community. On February 1, 2006, the Company announced that it had received notice from the EMEA that its MAA had been validated for review, which signaled the start of formal scientific assessment. Genta expects to receive an opinion regarding approvability of its application by the EMEA's Committee on Human Medicinal Products in 2006.

On December 28, 2005, the Company completed submission of an NDA to the FDA that sought accelerated approval for the use of Genasense in combination with fludarabine plus cyclophosphamide for the treatment of patients with relapsed or refractory CLL who have previously received fludarabine. Genasense has received Fast Track designation by the FDA in CLL, meaning that the indication represents an unmet medical need. Genasense has also been granted designation as an orphan drug by the FDA. On March 1, 2006, Genta announced that the NDA had been accepted for review by the FDA with a target action date of October 28, 2006. However, acceptance of this NDA does not necessarily lead to FDA approval. Following its review of all the Company's information concerning Genasense, the FDA may refuse to approve altogether, or may ask for more data to be obtained, so that approval can be reconsidered.

In December 2005, t

BANK OF AMERICA CORP (NYSE:BAC) - Bank of America Corporation, a financial holding company, provides banking and nonbanking financial services and products to individual consumers, small- and middle-market businesses, large corporations, and governments in the United States and internationally. The companys Deposits segment generates savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, and checking accounts; and Global Card Services segment provides the U.S. consumer and business card, consumer lending, international card and debit card services. Its Home Loans & Insurance segment offers consumer real estate products and services, including mortgage loans, reverse mortgages, home equity lines of credit, and home equity loans. It also provides property, casualty, life, disability, and credit insurance. The companys Global Banking segment offers lending products, including commercial loans and commitment facilities, real estate lending, leasing, trade finance, short-term credit, asset-based lending, and indirect consumer loans; capital management and treasury solutions, such as treasury management, foreign exchange, and short-term investing options; and investment banking services comprising debt and equity underwriting and distribution, and merger-related advisory services. Its Global Markets segment provides financial products, advisory services, financing, securities clearing, settlement, and custody services. The companys Global Wealth & Investment Management segment offers investment and brokerage services, estate management, financial planning services, fiduciary management, credit and banking expertise, and asset management products. Bank of America Corporation serves customers through a network of approximately 6,011 banking centers, 18,262 automated teller machines, telephone, and online and mobile banking channels. The company was founded in 1874 and is based in Charlotte, North Carolina.

CITIGROUP INC (NYSE:C) - Citigroup, Inc., a global financial services company, provides consumers, corporations, governments, and institutions with a range of financial products and services, including consumer banking, credit cards, corporate and investment banking, securities brokerage, and wealth management. The company has two primary segments, Citicorp and Citi Holdings. The Citicorp segment operates as a global bank for businesses and consumers with two primary businesses, Regional Consumer Banking and Institutional Clients Group. The Regional Consumer Banking business provides traditional banking services, including retail banking, branded cards, and small commercial banking in North America, Asia, Latin America, and Europe, the Middle East, and Africa. The Institutional Clients Group business provides securities and banking services, including investment banking and advisory services, lending, debt and equity sales and trading, institutional brokerage, foreign exchange, structured products, cash instruments and related derivatives, and private banking; and transaction services consisting of treasury and trade solutions, and securities and fund services. The Citi Holdings segment has three businesses: Brokerage and Asset Management, Local Consumer Lending, and Special Asset Pool. The Brokerage and Asset Management business, through its 49% stake in Morgan Stanley Smith Barney joint venture and Nikko Cordial Securities, offers retail brokerage and asset management services. The Local Consumer Lending business provides residential mortgage loans, retail partner card loans, student loans, personal loans, auto loans, commercial real estate, and other consumer loans, as well as western European cards and retail banking services. The Special Asset Pool business is a portfolio of securities, loans, and other assets. Citigroup Inc. has approximately 200 million customer accounts and operates in approximately 140 countries. The company was founded in 1812 and is based in New York, New York.

PFIZER INC (NYSE:PFE) - Pfizer Inc., a biopharmaceutical company, engages in the discovery, development, manufacture, and marketing of prescription medicines for humans and animals worldwide. The companys Biopharmaceutical segment offers products in the areas of primary care, specialty care, established products, emerging markets, and oncology customer-focused units. Its principal products include Lipitor for elevated cholesterol levels in the blood; Norvasc for hypertension; Caduet for cardiovascular events; Chantix/Champix for smoking cessation; Lyrica for neuropathic pain; Revatio for pulmonary arterial hypertension; Geodon/Zeldox, a psychotropic agent; and Aricept for Alzheimers disease. This segments products also comprise Celebrex for osteoarthritis and rheumatoid arthritis and acute pain; Zyvox for Gram-positive pathogens; Viagra for erectile dysfunction; Detrol/ Detrol LA for overactive bladder; Sutent for advanced renal cell carcinoma; Xalatan for open-angle glaucoma and ocular hypertension; Genotropin for growth disorders; Vfend, an antifungal agent; Effexor for depressive disorders; Prevnar/Prevnar7 for invasive pneumococcal disease; Enbrel for rheumatoid arthritis; Protonix, proton pump inhibitor for erosive esophagitis; and Spiriva for breathing problems. The companys Diversified segment offers animal health products, which include antibiotics, anti-inflammatories, antiemetics, parasiticides, and vaccines; consumer healthcare products comprising dietary supplements, pain management, respiratory, and topicals/gastro-intestinal products; Nutrition products; and Capsugel products that include gelatin, liquid, softgel, non-animal, and fish gelatin capsules. Pfizer Inc. serves doctors, nurse practitioners, physician assistants, pharmacists, hospitals, pharmacy benefit managers, managed care organizations, and government agencies. It has a strategic alliance with Acacia Living Inc. The company was founded in 1849 and is headquartered in New York, New York.

ISHARES MSCI EMERGING MKT IN (NYSE:EEM) - ISHARES MSCI E.M.

FINANCIAL SELECT SECTOR SPDR (NYSE:XLF) - FINANCIAL SEL SPD

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