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Market Maker Surveillance Report. UNG, SDS, S, HBAN, VRX, GNTA, Highest Net Sell Volume and Negative Price Friction For Thursd

^{Published on 2010-12-16 19:00:48, Last Modified on 2010-12-22 19:48:02 - WOPRAI}
 

December 16, 2010 / M2 PRESSWIRE / BUYINS.NET / www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for Thursday. 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 Thursday there were 2544 companies with "abnormal" market making, 3412 companies with positive Friction Factors and 1932 companies with negative Friction Factors. Here is a list of the top companies with the highest net sell volume on Thursday 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. US NATURAL GAS FUND LP (NYSE:UNG), PROSHARES ULTRASHORT S&P500 (NYSE:SDS), SPRINT NEXTEL CORP (NYSE:S), HUNTINGTON BANCSHARES INC (NASDAQ:HBAN), VALEANT PHARMACEUTICALS INTE (NYSE:VRX), GENTA INC (OTCBB:GNTA). 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
     UNG        $-0.280      -4.81%       21,746,111      44.47%       26,927,758      55.07%       -5,181,647      -185,059
     SDS        $-0.310      -1.26%       10,602,829      43.18%       13,842,192      56.37%       -3,239,363      -104,496
     S          $-0.060      -1.42%       15,463,567      40.79%       19,833,082      52.31%       -4,369,515      -728,253
     HBAN       $-0.020      -0.33%       17,020,553      42.62%       22,915,724      57.38%       -5,895,171      -2,947,586
     VRX        $-0.490      -1.62%       1,590,224       23.13%       4,777,335       69.49%       -3,187,111      -65,043 
     GNTA       $-0.010      -24.39%      4,561,839       32.13%       9,457,264       66.61%       -4,895,425      -4,895,425

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 GNTA down $-0.01000 with a Friction Factor of -4,895,425 and a Net Volume of -4,895,425. That means that it takes 4,895,425 more shares of selling than buying to drop GNTA by one penny. On Monday the Market Makers allowed the stock to move down on heavier selling than buying (low negative friction).

US NATURAL GAS FUND LP (NYSE:UNG) - United States Natural Gas Fund LP

PROSHARES ULTRASHORT S&P500 (NYSE:SDS) - ULTRASH'T SP500 PROS

SPRINT NEXTEL CORP (NYSE:S) - Sprint Nextel Corporation offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S. Virgin Islands. Its Wireless segment provides wireless mobile voice and data transmission services on networks that utilize CDMA and iDEN technologies, as well as offers fourth generation wireless services. Its wireless data communications services comprise Internet access and messaging, email services, wireless photo and video offerings, and mobile entertainment applications, as well as asset and fleet management, dispatch services, and navigation tools; and wireless voice communications services include basic local and long distance wireless voice services, voicemail, call waiting, three way calling, caller identification, directory assistance, call forwarding, speakerphone, and push-to-talk services, as well as roaming services. This segment sells accessories, such as carrying cases, hands-free devices, batteries, and battery chargers, as well as devices and accessories to agents and other third-party distributors for resale. In addition, it markets its post-paid services under the Sprint and Nextel names; prepaid services under the Boost Mobile, Virgin Mobile, and Assurance Wireless names. The companys Wireline segment provides wireline voice and data communications services, including domestic and international data communications using various protocols, such as multiprotocol label switching technologies, Internet protocol (IP), asynchronous transfer mode, IP-based frame relay, managed network services, voice over IP, and traditional voice services. It also offers wide-area network and long distance services, as well as operates an all-digital long distance and Tier 1 IP network. Sprint Nextel was founded in 1899 and is headquartered in Overland Park, Kansas.

HUNTINGTON BANCSHARES INC (NASDAQ:HBAN) - Huntington Bancshares Incorporated operates as the holding company for The Huntington National Bank that provides commercial and consumer banking services. It offers deposit products, including checking accounts, savings accounts, interest bearing and non-interest bearing demand deposits, time deposits, money market deposits, and brokered deposits and negotiable certificate of deposits. The companys loan portfolio comprises home equity loans and lines of credit, first mortgage loans, direct installment loans, small business loans, automobile loans and leases, residential mortgage loans, commercial and industrial loans and leases, and commercial real estate loans. It also provides retail and commercial insurance agency services; and an array of insurance products, including individual life insurance products, such as basic term-life insurance, estate planning, group life and health insurance, property and casualty insurance, mortgage title insurance, and reinsurance for payment protection products. In addition, the company offers trust, asset management, investment advisory, brokerage, and private banking products and services; and investment banking, sales and trading of securities, mezzanine capital financing, and interest rate risk management products for corporate and institutional customers. Further, Huntington Bancshares provides mortgage banking, equipment leasing, and other financial products and services; and Internet banking and telephone banking services. As of December 31, 2009, the company operated 340 banking offices in Ohio, 115 in Michigan, 56 in Pennsylvania, 50 in Indiana, 28 in West Virginia, and 13 banking offices in Kentucky, as well as 9 private banking offices in Florida, 1 foreign office in the Cayman Islands, and 1 foreign office in Hong Kong. It also operated approximately 1,300 automated teller machines. The company was founded in 1866 and is headquartered in Columbus, Ohio.

VALEANT PHARMACEUTICALS INTE (NYSE:VRX) - Valeant Pharmaceuticals International, a specialty pharmaceutical company, engages in the development, manufacture, and marketing of a range of pharmaceutical products. It primarily offers specialty pharmaceutical and over-the-counter (OTC) products in the areas of dermatology and neurology therapeutic classes. The companys products include Efudex/Efudix for the treatment of multiple actinic or solar keratoses and superficial basal cell carcinoma; Acanya and Atralin gels for the treatment of acne vulgaris; Kinerase, a range of OTC and prescription cosmetic products; Nyal, a range of tablets, liquids, and nasal sprays to treat cough, cold, flu, sinus, and hayfever symptoms; and topical OTC products under the tradenames Dermaveen, Dr. LeWinns, and Dr. Renaud. It also offers Diastat/Diastat AcuDial, which are gel formulations of diazepam; Cesamet, a synthetic cannabinoid for the management of nausea and vomiting associated with cancer chemotherapy; Mestinon, an orally active cholinesterase inhibitor used in the treatment of myasthenia gravis; Migranal, a nasal spray formulation for the treatment of acute migraine headaches; and Librax, which is used as adjunctive therapy in the treatment of peptic ulcer and irritable bowel syndrome. In addition, the company provides branded generic products in antibiotics, antifungal medications, and diabetic therapies in Europe; and antibacterials, vitamin deficiency, and dermatology in Latin America. Valeant Pharmaceuticals has a license and collaboration agreement with Glaxo Group Limited to develop and commercialize retigabine, a neuronal potassium channel opener for the treatment of adult epilepsy patients with refractory partial onset seizures. It markets its products to physicians, hospitals, pharmacies, and wholesalers through its sales force, as well as through wholesalers primarily in the United States, Mexico, Poland, and Canada. The company was founded in 1960 and is headquartered in Aliso Viejo, California.

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

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