Market Maker Surveillance Report. MITK, GMR, CELL, FRZ, CRWG, DEER, Losing Stocks With Lowest Price Friction For Monday, March
March 21, 2011 / 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 2265 companies with "abnormal" market making, 4155 companies with positive Friction Factors and 1395 companies with negative Friction Factors. Here is a list of the top companies with the largest percentage loss per share Monday and low price friction (bearish). This means that there was more selling than buying in the stocks and their stock prices dropped faster with less Friction. MITEK SYSTEMS INC (OTCBB:MITK), GENERAL MARITIME CORP (NYSE:GMR), BRIGHTPOINT INC (NASDAQ:CELL), REDDY ICE HOLDINGS INC (NYSE:FRZ), CROWDGATHER INC (OTCBB:CRWG), DEER CONSUMER PRODUCTS INC (NASDAQ:DEER). 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 MITK $-0.670 -14.05% 29,536 9.52% 135,655 43.71% -106,119 -1,584 GMR $-0.310 -13.42% 2,166,809 47.48% 2,363,654 51.79% -196,845 -6,350 CELL $-1.570 -12.42% 1,568,649 47.92% 1,687,016 51.53% -118,367 -754 FRZ $-0.460 -13.14% 118,781 44.20% 138,317 51.47% -19,536 -425 CRWG $-0.150 -12.50% 165,526 33.68% 323,489 65.81% -157,963 -10,531 DEER $-2.430 -22.01% 1,707,859 43.05% 2,181,446 54.99% -473,587 -1,949Analysis 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 MITK with a dollar loss Monday of $-0.67000 and a Friction Factor of -1,584 shares. That means that it only took 1,584 more shares of selling than buying to move MITK 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.
MITEK SYSTEMS INC (OTCBB:MITK) - Mitek Systems, Inc. develops, sells, and services software solutions related to mobile imaging applications and intelligent recognition software in the United Stats and Internationally. The companys offers mobile imaging applications and intelligent recognition software provided as development toolkits. Mitek offers Mobile Deposit, an application that allows banks to accept check deposits via photos of checks taken with camera-equipped smartphones; Mobile Receipt, which converts the photo of a receipt taken with a smartphone into an image, as well as converts the data into an expense report; Mobile Phax that allows a user to take a photo of any letter sized document or page, and send it as a portable document format file to any email address or fax machine; and Mobile Photo Bill Pay, which allows users to take pictures of their bills with their smartphone cameras, as well as corrects image distortion, reads relevant data, and processes the transactions through the users banks. The company also offers character recognition toolkits under the brand ImageNet that provide a high level of accuracy in remittance processing, proof of deposit, and lock box processing applications. These products are used to reduce manual labor by automatically extracting amounts and routing information from checks and distinguishing between common document types, such as personal and business checks, substitute checks, pre-authorized drafts, and other document types specified by customers. In addition, Mitek provides FraudProtect Systems, an automated software application that allows banks to detect the most common forms of check fraud from forged signatures and counterfeit checks, as well as the detection of pre-authorized drafts and payee name alterations. Further, it offers ImageScore, a solution for financial institutions that truncates or uses check images in an accounts receivables conversion environment. The company was founded in 1983 and is based in San Diego, California.
GENERAL MARITIME CORP (NYSE:GMR) - General Maritime Corporation, through its subsidiaries, provides international transportation services of seaborne crude oil and petroleum products. The companys vessels are primarily available for charter on a spot voyage or time charter basis. As of February 26, 2010, it operated 31 vessels consisting of 2 VLCCs, 11 Suezmax vessels, 12 Aframax vessels, 2 Panamax vessels, and 4 Handymax vessels. The companys vessels had a total of 3.9 million dead weight tonnage carrying capacity on a combined basis. Its customers include oil companies, oil producers, oil traders, and vessel owners. General Maritime Corporation operates its vessels in the Caribbean, South and Central America, the United States, western Africa, the Mediterranean, Europe, and the North Sea ports. The company was founded in 1997 and is based in New York, New York.
BRIGHTPOINT INC (NASDAQ:CELL) - Brightpoint, Inc. provides supply chain solutions to the wireless technology industry. The company offers customized logistic services, including procurement, inventory management, software loading, kitting and customized packaging, fulfillment, credit services and receivables management, call center and activation services, Web site hosting, e-fulfillment solutions, repair and remanufacture services, reverse logistics, transportation management, sale of prepaid airtime, and other services within the wireless industry. It also distributes accessories used in connection with wireless devices, such as batteries, chargers, memory cards, car-kits, cases, and hands-free products. The company serves mobile network operators, mobile virtual network operators, manufacturers, independent agents and dealers, retailers, wireless equipment manufacturers, and other distributors. It has operations in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company was formerly known as Wholesale Cellular USA, Inc. and changed its name to Brightpoint, Inc. in September 1995. Brightpoint, Inc. was founded in 1989 and is based in Indianapolis, Indiana.
REDDY ICE HOLDINGS INC (NYSE:FRZ) - Reddy Ice Holdings, Inc. engages in the manufacture and distribution of packaged ice in the United States. The company offers ice in various forms, including cube, half-moon, cylindrical, crushed, and block forms. It markets its products, under the Reddy Ice brand name, to supermarket chains, mass merchants, convenience stores, wholesale ice and food distributors, commercial and industrial users, bars and restaurants, sporting and other special event venues, agricultural buyers, competitive producers, and self-suppliers. Reddy Ice serves its customers in 33 states and the District of Columbia. The company was founded in 2003 and is headquartered in Dallas, Texas.
CROWDGATHER INC (OTCBB:CRWG) - CrowdGather, Inc., an Internet company, specializes in the development and hosting of forum based Web sites. It monetizes a network of online forums and message boards to engage, provide information to, and build community around users. The company is in the process of building social, advertising, and user generated content networks by consolidating existing groups of online users that post on message boards and forums. Its forum communities connect people sharing their questions, expertise, and experiences. The company holds approximately 70 Web properties and 300 domain names. CrowdGather, Inc. is headquartered in Woodland Hills, California.
DEER CONSUMER PRODUCTS INC (NASDAQ:DEER) - Deer Consumer Products, Inc., through its subsidiaries, engages in the design, manufacture, and sale of small home and kitchen electronic appliances. The company offers blenders and juice extractors, soy milk makers, food processors, popcorn makers, meat grinders, coffee machines, and hot water kettles primarily under the Deer brand name, as well as under one store brand for a retailers private label programs. It sells its products through agents to retailers in the Peoples Republic of China. The company also operates as an original design manufacturer and original equipment manufacturer to provide its products to consumer products companies and electrical appliance manufacturers internationally. Deer Consumer Products, Inc. is based in Shenzhen, the Peoples Republic of China.
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