Dear PSL members,

Bearish movements at NASDAQ: (ACLS, CPST, CNXT, IBCP, JMBA)

Axcelis Technologies, Inc. (NASDAQ: ACLS) witnessed the correction of 7.10% to close at $1.7 whereas overall traded volume stood at 1.48 million shares. Axcelis Technologies, Inc. (Axcelis) designs, manufactures and services ion implantation, dry strip and other processing equipment used in the fabrication of semiconductor chips. In addition to equipment, the Company provides aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. During the year ended December 31, 2009, the Company owned 50% of the equity of SEN Corporation (SEN), a producer of ion implantation equipment in Japan. In February 2009, the Company entered into an agreement to sell its shares in SEN, which closed on March 30, 2009.

Capstone Turbine Corporation (NASDAQ: CPST) went down by 2% and closed at $0.98 with total traded volume of 1.40 million shares in the last trading day. Capstone Turbine Corporation (Capstone) develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications, including cogeneration (combined heat and power (CHP), integrated combined heat and power (ICHP), and combined cooling, heat and power (CCHP)), resource recovery and secure power. In addition, its microturbines can be used as battery charging generators for hybrid electric vehicle applications. Microturbines allow customers to produce power on-site in parallel with the electric grid or stand alone when no utility grid is available. There are several technologies that are used to provide on-site power generation (also called distributed generation), such as reciprocating engines, solar power, wind powered systems and fuel cells. On February 1, 2010, the Company acquired the 100 kilowatt (TA100) microturbine product line from Calnetix Power Solutions, Inc.

Conexant Systems, Inc. (NASDAQ: CNXT) closed at $2.26 after dropping by 3.83% whereas traded volume stood at 1.13 million shares for the day. Conexant Systems, Inc. (Conexant) designs, develops and sells semiconductor system solutions, comprised of semiconductor devices, software and reference designs, for imaging, audio, embedded-modem, and video applications.

Independent Bank Corporation(MI) (NASDAQ: IBCP) reported the fall of 4.05% to close at $0.35 with overall traded volume of 1.09 million shares in the last trading session. Independent Bank Corporation is a bank holding company. The Company owns Independent Bank (the Bank). The Bank’s activities cover all phases of banking, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services. Its mortgage lending activities are primarily conducted through a separate mortgage bank subsidiary.

Jamba, Inc. (NASDAQ: JMBA) decreased by 7.21% and closed at $1.93 whereas total traded volume stood at 1.03 million shares. Jamba, Inc. (Jamba) serves as a holding company for its wholly owned subsidiary, Jamba Juice Company, which owns and franchises Jamba Juice stores. Jamba Juice is a restaurant retailer of food and beverage offerings, including fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads, and a variety of baked goods and snacks. As of December 29, 2009, Jamba Juice had 739 locations consisting of 478 Company-owned and operated stores and 261 franchise stores operating in 22 states and the Bahamas. Of the 739 locations, 389 stores are located in California, of which 328 are Company Stores and 61 are Franchise Stores. During the fiscal year December 29, 2009, the Company opened two new Company Stores, and closed eight Company Stores. Franchisees opened 23 new Franchise Stores, closed seven Franchise Stores and, purchased 27 Company Stores, which are operated as Franchise Stores in refranchising transactions.

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