ExpressJet (XJT)

[downsideup]

I can think of a lot of things that will get it to move... but I'm holding out hope for those that get it to move... UP... LOL.

Looks like we will get a first read tomorrow on how it is going to trade when there isn't anything other than the price of a share depending on the price of a share.

There is still a possibility, even if the issues are resolved, that "normal" trading tomorrow and through next week, might include some serious efforts to drive prices down and shake the tree to get more lower priced shares into big boys portfolios before moving it back up. I'm of the school that expects it "ought" to trade higher tomorrow, just because there isn't much "extra-curricular" interest in holding it down now... and there is a lot of interest in seeing it go higher now.

Trading in the last month shows net distribution of almost 35 million shares. Distribution in the last 10 days has swung wildly from positive on Wednesday, to down almost a million shares at 3 pm today, but closed today with 500K fewer in the red. The ten day distribution probably gives you about the clearest picture possible of what has been happening here this week.

Chart a 5 min 10 day chart with accumulation/distribution, and compare closely the patterns in accumulation vs distribution for today, and for last Wednesday. Note that they form almost perfect inverse images of each other, so that if you took the Wed pattern and turned it upside down, it would plug into the pattern today?

That leaves me guessing that fair value right now, given the outstanding uncertainties, is somewhere in between those two... and that we are likely to see less of that sort of market action for a while... ??? Tomorrow could be interesting...