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Market Maker Friction Factor is shown in the chart below:
Symbol Change % BuyVol Buy% SellVol Sell% NetVol Friction
IIVI -$3.88 -20.21% 442,553 44.98% 516,375 52.49% -73,822 -190
FCX -$3.67 -16.82% 22,905,140 44.74% 22,912,307 44.76% -7,167 -20
DMND -$3.47 -10.95% 245,683 45.55% 279,473 51.82% -33,790 -97
HE -$2.87 -11.09% 1,804,617 32.97% 2,500,486 45.68% -695,869 -2,425
CS -$2.61 -10.26% 704,085 34.20% 805,478 39.12% -101,393 -388
NEM -$2.61 -8.09% 4,797,588 46.45% 5,333,797 51.64% -536,209 -2,054
Click here to view chart: http://www.buyins.com/ff/fftopl12-3-08.jpg
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 CS with a dollar loss Wednesday of -$2.61 and a Friction Factor of -388 shares. That means that it only took 388 more shares of selling than buying to move CS 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.
II-VI Incorporated (NASDAQ: IIVI | Quote | Chart | News | PowerRating) develops, manufactures, and markets materials and derivative precision components and products for precision use in industrial, medical, military, and aerospace applications worldwide. It offers a line of precision infrared optical components, such as lenses, output couplers, windows, and mirrors for use in CO2 lasers; and laser-related products for solid-state lasers and precision optical elements used to focus and direct laser beams onto target work surfaces. The company also provides military infrared optical products and assemblies, including optics for targeting and navigation systems; thermo-electric coolers and systems based on engineered semiconductor materials, which provide temperature control; and silicon carbide substrates used in solid-state lighting, wireless infrastructure, radio frequency electronics, and power switching industries. II-VI Incorporated sells its products to original equipment manufactures, system integrators, laser end users, and military and aerospace customers through its direct sales force, as well as through distributors and agents. The company was founded in 1971 and is headquartered in Saxonburg, Pennsylvania.
Freeport-McMoRan Copper & Gold, Inc. (NYSE: FCX | Quote | Chart | News | PowerRating) engages in the exploration, mining, and production of mineral properties primarily in Indonesia, North America, South America, and Africa. It focuses on the copper, gold, molybdenum, and silver prospects. The company holds interests in the Grasberg open pit and Deep Ore Zone projects in Indonesia. It also owns interests in the Grasberg, Kucing Liar, Mill Level Zone/Deep Mill Level Zone, and Big Gossan projects in Indonesia. In addition, the company holds interests in the Morenci project in Greenlee County, Arizona; the Safford project in Graham County, Arizona; the Bagdad project in Yavapai County in west-central, Arizona; the Sierrita project in Pima County, Arizona; the Miami project in Gila County, Arizona; the Chino and Tyrone project in southwestern New Mexico in Grant County; the Henderson project located approximately 42 miles west of Denver, Colorado; and the Climax molybdenum mine in Colorado, which are located in North America. Further, it owns interests in the Cerro Verde project located 20 miles southwest of Arequipa, Peru; the Candelaria project situated approximately 12 miles south of Copiapo in northern Chiles Atacama province; the Ojos del Salado project located approximately 10 miles east of Copiapo in northern Chiles Atacama province; the El Abra project situated 47 miles north of Calama in Chiles El Loa province, which are located in South America. Additionally, the company holds interests in the Tenke Fungurume project in the Democratic Republic of Congo; and the Atlantic Copper project in Huelva, Spain. At December 31, 2007, it had total consolidated recoverable proven and probable reserves of approximately 93.2 billion pounds of copper; 41.0 million ounces of gold; 2.0 billion pounds of molybdenum; 230.9 million ounces of silver; and 0.6 billion pounds of cobalt. Freeport-McMoRan Copper & Gold, Inc. was founded in 1987 and is based in Phoenix, Arizona.
Diamond Foods, Inc. (NASDAQ: DMND), a branded food company, engages in processing, marketing, and distribution of culinary, in-shell, ingredient nuts, and snack products primarily in the United States and Europe. The companys products include shelled nuts, pegboard nuts, glazed nuts, mixed nuts, harvest reserve premium nuts, mixed nuts, roasted nuts, shelled and processed nuts, and custom processed nuts, as well as trail mix and natural snack products. It sells its products directly to retailers, including national grocery stores, club stores, mass merchandisers, and drug store chains; and indirectly through wholesale distributors, who serve independent and small regional retail grocery store chains and convenience stores. The company markets its ingredient and food service nuts to food processors, restaurants, bakeries, and food service companies and their suppliers. It sells its products primarily under the Diamond and Emerald brand names. Diamond Foods was founded in 1912 and is based in San Francisco, California.
Hawaiian Electric Industries, Inc. (NYSE: HE), through its subsidiaries, engages in electric utility, banking, and other businesses primarily in the state of Hawaii. The electric utility business involves in the production, purchase, transmission, distribution, and sale of electricity on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai. It also serves suburban communities, resorts, the U.S. armed forces installations, and agricultural operations. As of December 31, 2007, the company had 439,897 electric customer accounts. The Banking business engages in the provision of banking and other financial services to consumers and businesses. It accepts savings accounts, checking accounts, money market accounts, and certificate of deposits. The company also provides real estate loans, residential mortgage loans, construction and development lending, multifamily residential and commercial real estate lending, consumer loans, and commercial loans. It owned and leased 63 branches; and 226 automated teller machines. In addition, the company provides wind farm operational and maintenance services to an affiliated electric utility. The company was founded in 1891 and is based in Honolulu, Hawaii.
Credit Suisse Group (NYSE: CS | Quote | Chart | News | PowerRating) operates as a financial services company worldwide. It operates through three segments: Private Banking, Investment Banking, and Asset Management. The Private Banking segment offers advisory services and a range of wealth management solutions, including pension planning, life insurance products, tax planning, and wealth and inheritance advice for the high-net-worth individuals. This segment also supplies banking products and services to high-net-worth, corporate, and retail clients in Switzerland. The Investment Banking segment provides investment banking and securities products and services to corporate, institutional, and government clients. This segments products and services include debt and equity underwriting, sales and trading, mergers and acquisitions advice, divestitures, corporate sales, restructuring, and investment research. The Asset Management segment offers integrated investment solutions and services to institutions, governments, and private clients. It provides access to a range of investment classes, including money market, fixed income, equities, balanced products, and alternative investments, such as real estate, hedge funds, private equity, and volatility management. Credit Suisse Group has a strategic partnership agreement with the National Pension Service of the Republic of Korea to provide a range of services, including asset management, risk management, governance, training, and technology. The company was founded in 1856 and is headquartered in Zurich, Switzerland.
Newmont Mining Corporation (NYSE: NEM | Quote | Chart | News | PowerRating) engages in the production of gold from its properties in the United States, Australia, Peru, Indonesia, Ghana, Canada, Bolivia, New Zealand, and Mexico. It owns properties in Nevada, which include open pit mines and underground mines, including Carlin, located west of the city of Elko on the geologic feature known as the Carlin Trend; the Twin Creeks mine and the Midas mine near the town of Valmy; the Phoenix mine located south of Battle Mountain; and the Leeville underground mine located on the Carlin Trend. The companys properties in Australia/New Zealand include the Fimiston open pit mine and Mt. Charlotte underground mine at Kalgoorlie, Australia; the Favona underground deposit and the Martha open pit located within the town of Waihi southeast of Auckland, New Zealand; and Boddington, a development project located southeast of Perth in Western Australia. Newmont also owns interest in a porphyry copper/gold deposit known as Batu Hijau located on the island of Sumbawa, Indonesia; and operates two open pits located in the Brong-Ahafo Region of Ghana. In addition, the company, through its interest in Minera Yanacocha S.R.L., owns interest in gold properties located near Cajamarca in Peru. Further, it owns interests in the Kori Kollo open pit mine in Bolivia; the La Herradura property located in Mexico; and the Hope Bay project in the Nunavut Territory of Canada. As of December 31, 2007, Newmont had proven and probable gold reserves of approximately 86.5 million equity ounces and an aggregate land position of approximately 42,680 square miles. The company was founded in 1916 and is headquartered in Denver, Colorado.
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