ExpressJet (XJT)

[downsideup]

XJT is back into accumulation mode now, but today on a day when pretty much every stock in the market is up 5% or more, with 9:1 advances to declines, it isn't that impressive a performance here. The last three days, each with just over 200K shares in volume, shows that volume as pure acquisition, having retraced about 1/3 of the volume in distribution with the decline from $3 following the completion of the reverse. Still a fairly negative price trend, moving down with acceleration on light volume, not moving back up the same way on larger volume, but it does look like it is turning a corner and may be bottoming here.