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Market Maker Surveillance Report. TSRA, NBY, CHTP, FREE, NEWL, CDXS, Losing Stocks With Lowest Price Friction For Tuesday, Feb

February 21, 2012 / M2 PRESSWIRE / BUYINS.NET / www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for Tuesday. 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 Tuesday there were 3893 companies with "abnormal" market making, 3054 companies with positive Friction Factors and 3238 companies with negative Friction Factors. Here is a list of the top companies with the largest percentage loss per share Tuesday 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. TESSERA TECHNOLOGIES INC (NASDAQ:TSRA), NOVABAY PHARMACEUTICALS INC (AMEX:NBY), CHELSEA THERAPEUTICS INTERNATIONAL, LTD. (NASDAQ:CHTP), FreeSeas Inc. - Common Stock (NASDAQ:FREE), NEWLEAD HOLDINGS LTD (NASDAQ:NEWL), CODEXIS, INCORPORATION (NASDAQ:CDXS). 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
     TSRA       $-2.930      -14.66%      873,737         45.02%       1,057,998       54.51%       -184,261        -629    
     NBY        $-0.220      -15.28%      31,880          22.29%       91,238          63.80%       -59,358         -2,698  
     CHTP       $-0.690      -20.60%      6,273,791       48.99%       6,510,933       50.84%       -237,142        -3,437  
     FREE       $-0.250      -14.62%      205,179         42.23%       280,293         57.69%       -75,114         -3,005  
     NEWL       $-0.270      -19.01%      33,538          46.91%       37,958          53.09%       -4,420          -164    
     CDXS       $-0.880      -19.21%      1,042,924       43.82%       1,290,562       54.23%       -247,638        -2,814  

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 TSRA with a dollar loss Tuesday of $-2.93000 and a Friction Factor of -629 shares. That means that it only took 629 more shares of selling than buying to move TSRA 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.

TESSERA TECHNOLOGIES INC (NASDAQ:TSRA) - Tessera Technologies Inc. develops and licenses miniaturization technologies for chip-scale, multichip, and wafer-level packaging, which enables companies to produce chips for digital audio players, digital cameras, personal computers, personal digital assistants, video game consoles, and mobile phones. The 17-year-old company also manufactures wafer optics in small volumes. Its related services run from engineering (such as customized package design, modeling, simulation, failure analysis, and reliability testing) to assembly (training and consulting to help semiconductor assemblers keep assembly lines up to date) and infrastructure (evaluation, qualification, cost reduction, and cost analysis for companies that supply equipment and materials to chipmakers). Customers include chipmakers and assemblers, system manufacturers, electronic manufacturing service companies, and government agencies and their contractors. Tessera is based in San Jose, Calif.

NOVABAY PHARMACEUTICALS INC (AMEX:NBY) - NovaBay Pharmaceuticals Inc., a clinical stage biotechnology company, engages in developing proprietary and patented topical Aganocide compounds for the treatment and prevention of various infections without causing bacterial resistance. Its Aganocide compounds are synthetic anti-infective product candidates with equivalent activity to the active antimicrobial molecules generated within white blood cells. The company is developing commercial opportunities for its portfolio of anti-infective Aganocide compounds in four healthcare markets, including dermatology, ophthalmology, urology, and hospital infections. Its lead product candidate, NVC-422, is used for the treatment of adenoviral conjunctivitis, a type of Pink Eye; killing of P. acne, the bacterium associated with inflamed acne lesions, and other known dermal pathogens; and treatment of uropathogens, including Proteus mirabilis, a gram-negative bacterium that can cause urinary catheter blockage and encrustation. The company is also developing NVC-101, an acidic composition of hypochlorous acid to promote wound healing, tissue repair, and tissue regeneration. NovaBay Pharmaceuticals has a licensing and research collaboration agreement with Alcon Manufacturing Ltd. for use of its Aganocide compounds in the eye, ear, and sinus infections, as well as for contact lens solutions; and with Galderma S.A. to develop and commercialize its Aganocide compounds in acne, impetigo, and other dermatological indications. The company was formerly known as NovaCal Pharmaceuticals, Inc. and changed its name to NovaBay Pharmaceuticals, Inc. in February 2007. NovaBay Pharmaceuticals was incorporated in 2000 and is based in Emeryville, California.

CHELSEA THERAPEUTICS INTERNATIONAL, LTD. (NASDAQ:CHTP) - Chelsea Therapeutics International, Ltd., a development stage pharmaceutical company, focuses on the acquisition, development, and commercialization of pharmaceutical products for the treatment of various human diseases. The companys compounds target various prevalent medical conditions, primarily rheumatoid arthritis, psoriasis, cancer, other immunological disorders, and neurogenic orthostatic hypotension associated with Parkinsons disease and other autonomic disorders. It offers Droxidopa, an orally active synthetic precursor of norepinephrine for the treatment of symptomatic neurogenic orthostatic hypotension, freezing gait in Parkinsons disease, and intradialytic hypotension in Japan. The company develops droxidopa in three indications, such as neurogenic orthostatic hypotension, intradialytic hypotension, and fibromyalgia. It also develops a portfolio of molecules for the treatment of various autoimmune/inflammatory diseases, such as a portfolio of metabolically inert antifolate molecules, including CH-1504 for the treatment of rheumatoid arthritis that is in a phase II head-to-head clinical trial; and CH-4051, which completed the phase I study designed to determine the maximum tolerated dose based on results of single-ascending and multiple-ascending dose evaluations. In addition, the company develops antifolate program, a platform consisting of a portfolio of dihydroorotate dehydrogenase(DHODH), inhibiting compounds known as the I-3D portfolio, a group of orally active compounds that inhibit the enzyme DHODH for the treatment of autoimmune diseases and transplant rejection. Chelsea Therapeutics International, Ltd. was founded in 2002 and is headquartered in Charlotte, North Carolina.

FreeSeas Inc. - Common Stock (NASDAQ:FREE) - FreeSeas Inc., incorporated in April 2004, is a Marshall Islands corporation operating out of Piraeus, Greece. The Company is engaged in the transportation of dry bulk cargoes through the ownership and operation of drybulk vessels. It has a fleet of three Handysize vessels. The Company operates through its wholly owned subsidiaries, Adventure Two, S.A., Adventure Three, S.A. and Adventure Four, S.A. The operations of the vessels are managed by Free Bulkers, an affiliated Marshall Islands corporation. Free Bulkers provides FreeSeas with a wide range of shipping services at a fixed monthly fee per vessel. These services include technical management, such as managing day-to-day vessel operations including supervising the crewing, supplying, maintaining and drydocking of vessels, commercial management regarding identifying suitable vessel charter opportunities and certain accounting services.

On March 24 2005, Trinity Partners Acquisition Company Inc. (Trinity), which was a black check company, and FreeSeas entered into an agreement and plan of merger providing for the merger of Trinity into FreeSeas. On December 16, 2005, the Company announced that it had completed its merger with Trinity, and in accordance with the terms of the merger, FreeSeas was the surviving corporation.

The operations of the Company's vessels are managed by Free Bulkers S.A. (Free Bulkers), an affiliated company. Free Bulkers provides FreeSeas with a range of shipping services at a fixed monthly fee per vessel. These services include technical management, such as managing day-to-day vessel operations, including supervising the crewing, supplying, maintaining and dry docking of vessels, commercial management regarding identifying suitable vessel charter opportunities, and certain accounting services.

During the year ended December 31, 2004, one charterer, Express Sea Transport Corporation, chartered both M/V Free Destiny and the M/V Free Envoy. Until the acquisition of the M/V Free Fighter, FreeSeas' only sources of revenue were the charters by Express Sea Transport Corporation. The M/V Free Fighter is being chartered by other charterers.

The Company competes with Dryships Inc., Diana Shipping Inc., Eagle Bulk Shipping Inc. and Excel Maritime Carriers Ltd.

NEWLEAD HOLDINGS LTD (NASDAQ:NEWL) - NewLead Holdings Ltd. operates as an international shipping company that owns and operates product tankers and dry bulk carriers. It operates in two segments, Wet Operations and Dry Operations. The Wet Operations segment transports various refined petroleum products simultaneously in segregated coated cargo tanks that include gasoline, jet fuel, kerosene, naphtha, diesel, fuel oil, gas oil, and heating oil, as well as edible oils and chemicals. The Dry Operations segment involves in transporting and handling bulk cargoes through ownership, operation, and trading of vessels. As of April 06, 2010, the company operated a fleet of nine product tankers and four dry bulk vessels. It was formerly known as Aries Maritime Holdings Limited and changed its name to NewLead Holdings Ltd. in December 2009. The company was incorporated in 2005 and is based in Piraeus, Greece.

CODEXIS, INCORPORATION (NASDAQ:CDXS) - Codexis, Inc. develops industrial biocatalysts, enzymes, and microbes for energy, pharmaceutical, and environmental industries. The company focuses on conversion of renewable resources into transportation fuels and pharmaceuticals. It offers development of technologies for air and water treatment and chemical manufacturing. The company s products include biocatalyst panels, custom biocatalysts, enzymes, active pharmaceutical ingredients and intermediates, and human cytochrome biocatalysts. Codexis was incorporated in 2002 and is based in Redwood City, California with additional offices in Budapest, Hungary; Singapore; and Bangalore, India.

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REGULATORY & COMPLIANCE NEWS

Friction Factor -- market maker surveillance system tracking Level II market makers in all stocks to determine Price Friction and compliance with new "Fair Market Making Requirements"

RegSHO Naked Shorts -- tracks EVERY failure to deliver in all US stocks and tracks all Threshold Security Lists daily for which stocks have naked shorts that are not in compliance with Regulation SHO

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SqueezeTrigger -- 29 billion cell database tracks EVERY short sale (not just total short interest) in all US stocks and calculates volume weighted price that a short squeeze will begin in each stock.

Earnings Edge -- predicts probability, price move and length of move before and after all US stock earnings reports.

Seasonality -- predicts probability, price move and length of move based on exact time of year for all US stocks.

Group Trader -- tracks sector rotation and stock correlation to its sector and predicts future moves in ALL sectors and industry groups.

Pattern Scan -- automates tracking of every technical pattern and predicts time and size of move in all stocks.

GATS (Global Automated Trading System) -- tracks all known trading strategies and qualifies and quantifies which are working best in real time.

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