Looking back over just the past 20+ months of his weekly statistical summaries, the General was looking for a low point in CXW's 3-months ADV, given that it has been rising rather markedly since the end of last September (9/30/05). He found that it had occurred at the very end of 2004 (12/31/04), when it was @ 125,181 shares per day.
As of yesterday's close, CXW's ADV stood @ 208,552 shares per day, an increase of +66.60%.
What surprised the General, was that CXW's closing price (at its ADV's nadir) on 12/31/04, was $40.45. Yesterday's closing price was $45.00, a price gain of only +11.25% over a period when its ADV gained +66.60%
However, if we reckon the changes in closing price and ADV from 9/30/05 ($39.70 & 149,832), just the past 3+ months show a +13.35% gain in price and a 39.19% gain in ADV.