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Market Maker Friction Factor is shown in the chart below:
Symbol Change % BuyVol Buy% SellVol Sell% NetVol Friction
XOM -$4.05 -5.57% 18,227,586 36.09% 23,873,729 47.27% -5,646,143 -13,941
QCOM -$3.15 -8.98% 12,267,504 44.70% 15,952,530 58.12% -3,685,026 -11,698
IBM -$4.24 -5.12% 3,258,799 28.68% 6,592,810 58.02% -3,334,011 -7,863
CVX -$6.39 -8.69% 8,130,539 36.30% 11,415,874 50.96% -3,285,335 -5,141
MS -$2.33 -16.55% 14,529,557 42.52% 17,603,427 51.51% -3,073,870 -13,193
IP -$1.53 -11.32% 6,022,751 36.98% 8,155,636 50.08% -2,132,885 -13,940
Click here to view chart: http://www.buyins.com/ffnetvoldown11-12-08.jpg
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. 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.
For example, the chart above shows XOM with a Friction Factor of -13,941 and a Net Volume of -5,646,143. That means that it only takes 13,941 more shares of selling than buying to drop XOM by one penny. This means the Market Makers are allowing the stock to move down quickly as of yesterday (low negative friction).
Exxon Mobil Corporation (NYSE: XOM | Quote | Chart | News | PowerRating) engages in the exploration, production, transportation, and sale of crude oil and natural gas. It also engages in the manufacture of petroleum products, and transportation and sale of crude oil, natural gas, and petroleum products. The company manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and other specialty products. Exxon Mobil also has interests in electric power generation facilities. As of December 31, 2007, it had 7744 millions of barrels of liquid proved reserves, and 32,610 billions of cubic feet of proved reserves of natural gas. Exxon Mobil also operated 16,797 gross wells. The company operates in the United States, Canada, Europe, Africa, Asia-Pacific, the Middle East, Russia/Caspian region, and South America. Exxon Mobil was founded in 1870. The company was formerly known as Exxon Corporation and changed its name to Exxon Mobil Corporation in 1999. Exxon Mobil is based in Irving, Texas.
QUALCOMM (NASDAQ: QCOM | Quote | Chart | News | PowerRating) designs, manufactures, and markets digital wireless telecommunications products and services based on its CDMA technology and other technologies. It operates in four segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), Qualcomm Wireless and Internet (QWI), and Qualcomm Strategic Initiatives (QSI). QCT segment develops and supplies CDMA-based integrated circuits and system software for wireless voice and data communications and multimedia functions, as well as GPS products used in wireless devices, such as mobile phones, data cards, and infrastructure equipment. It also offers system reference designs and development tools to assist in customizing wireless devices and user interfaces; to integrate its products with components developed by others; and to test interoperability with existing and planned networks. QTL segment grants licenses to use portions of its intellectual property portfolio comprising patent rights useful in the manufacture and sale of certain wireless products, such as products implementing cdmaOne, CDMA2000, WCDMA, CDMA TDD, and GPRS/EDGE and/or OFDMA standards and their derivatives. QWI segment sells equipment, software, and services used by transportation and other companies to connect wirelessly with their assets, products, and workforce; and products that operate on the Globalstar low-Earth-orbit satellite-based telecommunications system. It also provides BREW-based products that include user interface, and content delivery and management products and services for the wireless industry; QChat that enables instantaneous push-to-talk functionality on CDMA-based wireless devices; and development, hardware, and analytical expertise involving wireless communications technologies to United States government agencies. QSI segment makes strategic investments to promote the worldwide adoption of CDMA-based products and services. The company was founded in 1985 and is based in San Diego, California.
International Business Machines Corporation (NYSE: IBM | Quote | Chart | News | PowerRating) develops and manufactures information technologies, including computer systems, software, networking systems, storage devices, and microelectronics worldwide. Its Global Technology Services segment offers IT infrastructure and business process services, such as strategic outsourcing, business transformation outsourcing, integrated technology, and maintenance. The company?s Global Business Services segment provides professional services and application outsourcing services, including consulting and systems integration and application management. Its Systems and Technology segment offers computing and storage solutions, including servers, disk and tape storage systems and software, semiconductor technology and products, packaging solutions, engineering and technology services, and retail store solutions. IBM?s Software segment primarily offers middleware and operating systems software comprising information management software for database, content management, and information integration; lotus software for collaboration, messaging, and social networking; rational software, a process automation tool; Tivoli software for infrastructure management, including security and storage management; Websphere software for Web-enabled applications; and product lifecycle management software. The company?s Global Financing segment provides commercial financing to dealers and remarketers of IT products; lease and loan financing to external and internal clients; and sale and lease of used equipment. IBM serves banking, insurance, education, government, healthcare, life sciences, aerospace and defense, automotive, chemical and petroleum, electronics, distribution, and communication markets. The company was founded in 1910 as Computing-Tabulating-Recording Company and changed its name to International Business Machines Corporation in 1924. IBM is based in Armonk, New York.
Chevron Corporation (NYSE: CVX | Quote | Chart | News | PowerRating) operates as an integrated energy company worldwide. The company's Petroleum operations include the exploration, development, production, and marketing of crude oil and natural gas; refining, marketing, and transportation operations include refining crude oil into finished petroleum products; marketing crude oil and products derived from petroleum; and transporting crude oil, natural gas, and petroleum products by pipeline, marine vessel, motor equipment, and rail car. Its chemical operations include manufacture and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant oil additives. The company also engages in coal mining, power generation, insurance, and real estate activities. The company was founded in 1879. It was formerly known as Standard Oil Company of California and changed its name to Chevron Corporation in 1984. Further, it changed its name to ChevronTexaco Corporation in 2001 and to Chevron Corporation in 2005. Chevron Corporation is based in San Ramon, California.
Morgan Stanley (NYSE: MS), through its subsidiaries and affiliates, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company operates in three segments: Institutional Securities, Global Wealth Management Group, and Asset Management. The Institutional Securities segment engages in various activities, including capital raising; provision of financial advisory services principally on mergers and acquisitions, divestitures, corporate defense strategies, joint ventures, privatizations, recapitalizations, spin-offs, corporate restructurings, shareholder relations, tender offers, exchange offers, and leveraged buyouts; corporate lending; sales, trading, financing, and market-making activities on securities and futures exchanges; equity and proprietary trading; benchmark indices and risk management; research; and investment. The Global Wealth Management Group provides brokerage and investment advisory services covering various investment alternatives; financial and wealth planning services; annuity and insurance products; credit and other lending products; banking and cash management services; retirement services; and trust and fiduciary services. The Asset Management segment provides asset management products and services in equity, fixed income, and alternative investments, which include hedge funds, fund of funds, real estate, private equity, and infrastructure to institutional and retail clients through proprietary and third party retail distribution channels, intermediaries, and the company?s institutional distribution channel. This segment also engages in investment activities. Morgan Stanley has a strategic alliance with Avenue Capital Group. The company was founded in 1935 and is headquartered in New York, New York.
International Paper Company (NYSE: IP | Quote | Chart | News | PowerRating) operates as a paper and packaging company. Its Printing Papers segment produces printing and writing papers, including uncoated and coated papers, market pulp, and uncoated bristols. The company?s Industrial Packaging segment manufactures containerboards. Its Consumer Packaging segment produces coated paperboard for various packaging and commercial printing end uses. The company?s Distribution segment provides services and products to the commercial printer with printing papers and graphic art supplies; building services; away-from-home markets with facility supplies; manufacturers with packaging supplies and equipment; and provides warehousing and delivery services. Its Forest Products segment owns and manages forest lands primarily in the United States. The company has joint venture with Ilim Holding S.A. that operates as an Ilim Group in Russia. International Paper Company was founded in 1898 and is headquartered in Memphis, Tennessee.
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