ExpressJet (XJT)

[downsideup]

I think it might take a little time for the reality of what is happening here to sink in, and more time for some than others. And, of course, it isn't done yet... won't be until after the first of Aug, and it might take a bit of time to happen after that. I do expect that there are going to be a couple of shorts out there who are a bit quicker than others... and there may be a first move up soon just based on short covering...

There is also the reality that there was a fair amount of market power applied in the effort to take it down... and if anything like that sort of effort is made to take it back up... it will go back up. There is a possibility of luck in timing, with a couple of those factors helping to move it back up... which might result in a pretty good pop at some point, if the short covering turns into something a little more frenzied.

At the point where everyone realizes serious dilution isn't going to happen, and most think it will be back up over $1 soon... it ought to move more quickly.