heavily shorted...too heavily shorted...i like it...squeeze time by next week?
With the market down and fresh off the announcement that CPN
is buying back even more of the outstanding debt.
CPN is up 0.24
The volume is also high for a non-eventful time.
Is it possiblethat the shortsare starting to cover? ???
I have taken the position.
After the bell CPN announcedthe folllowing: ( I think they are saying the buyback is off)
05:06 PM, Jun 10, 2005 -- Calpine (CPN) said today that due to market conditions it was terminating its pending tender offer for outstanding euro-denominated 8-3/8% senior notes due 2008 and British-pound denominated 8-7/8% senior notes due 2011 issued by its subsidiary Calpine Canada Energy Finance II ULC, and the U.S. dollar-denominated 8-1/2% senior notes due 2008 issued by its subsidiary Calpine Canada Energy Finance ULC. The tender offer had been set to expire at 5:00 p.m. on June 22.
Companies: CPN
Price: 3.15, Change: -0.03, Percentage Change: -0.94
still looks good to me...even with the news that I cant understand anyway. ;)
badesrini - still happy with the position ;D... I sold this morning. +12%
I sold yesterday @3.40 made a nice .37 cents on each share.. but the way it is heading i bought again this morning hoping to sell when it touches $4.00. What do you think ...will it ever reach $4 in this short time.
Thnx for you analysis on this about the short squeez.
solid trade ;) ..4 is doable, especially if the volume really comes in. I just noticed that CPN was going through a "well traveled area" on the chart. May have some resitance here. Stop it tightly in my opinion.
Glad it went well for you. You welcome. 8)
any body follow CPN since find from daily chart always continue with 2 green K stick therefore wondering if good for 2 days short term swing? any commnet? thanks
hey fataunt - try to insert the ticker symbol in the search feature next time. You'll get a link to this: http://www.3stocksonfire.org/trading/index.php?topic=589.0
CPN looks like it might be set to start its next run. Might be a good idea to wait for volume to kick in as it passes 3.5 to be certain.
8)
thanks G ;)
thanks for advice! :)
Market Pulse: Calpine sells oil assets to Rosetta for $1.05B
Wednesday June 29, 7:50 am ET
By Kabir Chibber
LONDON (MarketWatch) -- Calpine Corp. said it has agreed to sell all of its domestic oil and gas exploration and production assets for $1.05 billion, excluding transaction fees and expenses to Rosetta Resources Inc., a newly formed indirect, wholly owned subsidiary of Calpine. Rosetta will issue 45.3 million shares for $725 million and use the net proceeds, plus $325 million from a new credit facility, to buy the assets. The Rosetta shares have been placed privately. Calpine said its proved oil and gas reserves totaled around 383 billion cubic feet equivalent on May 1. Following this transaction, Calpine will no longer own any interest in Rosetta. The sale is scheduled to close on July 7.
back in play..this one has earnings tomorrow and it looks like it will move up into and I believe out of strongly!
http://finance.yahoo.com/q/h?s=CPN
almost certain this one will at least see 4...6% gain at least
Outstanding work Mr.EliteG! ;)
The 50-day ema has crossed the 200-day ema,Volume is building.
Nice call on this play.You go Wizard! ;D
CPN is trading for less than its Net Tangible Assets.
http://finance.yahoo.com/q/bs?s=CPN
is it a bargain? we find out tomorrow.
Anyone?
http://stockcharts.com/def/servlet/SC.web?c=CPNL
http://finance.yahoo.com/q/is?s=CPNL.PK&annual
I had my eyes on this for a while since drop waiting for the dead cat, i bought the dead cat last week @.22 bouncing nicely now
look at this chart.
http://www.investorshub.com/boards/read_msg.asp?message_id=8853705
I have been watching it for a few days, with 9.22 billion in revenue last year I had to get in less then two hours ago at .345 and it's already at .36 and going higher. Definitly oversold.
News today:
http://tinyurl.com/96g4a
And it shot up.
Should shoot up tomorrow on 4:30 PM news (read below) ::)
Candlestick Charting on CPNL:
1) Doji Star
2) confirmation of Doji Star by Three White Soldiers
It also seem to have a small "kangaroo tail" as Dr. A. Elder would say.
Reuters
Calpine says could repay money sooner
Thursday December 15, 4:31 pm ET
By Sarah Coffey
WILMINGTON, Delaware (Reuters) - Embattled power producer Calpine Corp. (Other OTC:CPNL.PK - News) told the Delaware Supreme Court on Thursday that it can repay $312 million that it misspent on fuel earlier than the January 22 deadline imposed by a lower court if ordered to do so.Calpine had previously said that it was not sure it could repay the money by the deadline and was at risk of bankruptcy. But the company's lawyers said on Thursday that Calpine could make good on the repayment and was also seeking to raise new funds for its operations.
"(Calpine) is in the process of attempting to enter into financing transactions," said Robert Haney, an attorney for Calpine, at an appeals hearing before the court. "Obviously it's easier to do that in the longer term."
The court statement by the Calpine attorney "suggests that the new management is not as inclined to file for bankruptcy," said Jon Cartwright, an analyst at BOSC Inc.
The court heard arguments from Calpine, one of the biggest U.S. power generators, and Wilmington Trust (NYSE:WL - News), as trustees for Calpine's first and second lien note holders.
Calpine is appealing a Delaware Court of Chancery ruling that it violated terms of its debt by using $312 million in asset sale proceeds to buy gas for fuel, saying it should be reversed because the court misinterpreted the terms.
The Chancery Court ordered Calpine to repay the money to the bank account from which it came in the first place, an account intended to be used only for the repayment of debt and the purchase of certain kinds of designated assets.
Wilmington is asking the Supreme Court to uphold the Chancery Court's ruling and to accelerate Calpine's repayment to January 3.
Wilmington agreed last week to hold off forcing Calpine to repay $3 billion in second-lien notes until the appeal is decided and a repayment deadline is confirmed.
MISTAKEN TERMS
In court on Thursday, Calpine repeated the crux of its argument, that Vice Chancellor Leo Strine of the Chancery Court misinterpreted the terms of the debt when he found that they did not permit asset sale proceeds to be used to buy gas.
A Calpine spokeswoman was not immediately available to comment on the company's efforts to raise new funds or the timetable for a repayment. A Wilmington spokesman was not available to comment.
But Wilmington's attorneys said the bank wants the money sooner rather than later because it would be infinitely harder to collect if Calpine does in fact become insolvent.
"If in the interim there is a bankruptcy ... we would be in a position where we would have to prove to a bankruptcy court that the $312 million is really for us," Laurence Greenwald told the court. "Why should my client who did nothing wrong here ... suffer the possibility of that happening?"
The Supreme Court, after an hour-long hearing, adjourned and said it expected to rule on the appeals promptly.
Even before the hearing, though, analysts said it did not matter in the long run if the court cut Calpine's time to repay the money.
"The tightening of the time frame ... (is) clearly important but ... I don't think that time frame of 20 days is really going to be that meaningful," said Caesar Silvestro, an analyst at Samco Capital Markets.
Shares in Calpine were up nearly 26 percent at 38.6 cents on the Pink Sheets, where the shares were forced to move after the New York Stock Exchange suspended the shares. Its bonds were little changed, however.
http://tinyurl.com/7dpgg
Well, it did not shoot up. Is this still anyone's guess if it will BK or not?
Seems as if they dont know.
Are we expecting positive momentum until decision day?
Yeah. Great if you got in around .20 It have been running strong with volumn. This one will go up and down. Hope it will break .50 and we see.
Q stocks seem to be hot lately...this one broke and held over a res....very nice...very good vol.
glta
julia
CPN....CPNL....Is now CPNLQ a Pink Sheet listed stock.
I will merge these Topics with the CPNLQ Thread.
All CPN...CPNL...CPNLQ... Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.
All history on a stock pick in 1 thread is awesome.
Thank You....and good luck with all your trades....make some $$$
I will leave you Friday's closing chart with this merger message.....
And it continues. Nice day and run into close.
I've been stunned watching this one. Lived it on the way down years ago. Can't bring myself to pull the trigger. Are you watching any other Q's now? By the way, thanks for starting the ibcx thread, back in yet?
Had news late pm, causing a a run. ....as i type its at hod of $1.02.
Wednesday, December 06 2006 12:02 PM, EST
--------------------------------------------------------------------------------
Calpine Receives Court Approval to Sell its 590-Megawatt Aries Power Plant to Kelson Holdings, LLC for $233.6 Million
Canada NewsWire "All News "
SAN JOSE, Calif., Dec. 6 /CNW/ -- Calpine Corporation (OTC Pink Sheets: CPNLQ) announced today that it has received approval from the U. S. Bankruptcy Court, Southern District of New York for the sale of the company's 590-megawatt Aries Power Plant to Kelson Holdings, LLC for $233.6 million. The transaction, subject to certain regulatory approvals, is expected to close within the next 30 to 60 days.
"Calpine continues to make significant progress with our restructuring efforts and in divesting of non-core power assets. This transaction represents another positive step towards our goal of emerging from Chapter 11 a stronger, more competitive power company," said Robert P. May, Calpine's Chief Executive Officer. "In addition to enhancing Calpine's liquidity and reducing project debt, the Aries sale is consistent with our strategy of focusing our resources on core power assets in our key power markets where Calpine can best compete."
In October, Calpine received Court approval to proceed with the sale process for Aries and initially obtained a $158.5 million bid from Aquila, Inc. In accordance with asset sales procedures approved by the Bankruptcy Court, Calpine held an auction on Dec. 4, 2006 to allow other potential buyers to bid on the asset. At the conclusion of this auction, Kelson Holdings, LLC was selected as the winning bidder.
Calpine will utilize the $233.6 million in proceeds to repay approximately $191 million of project-related debt that includes all outstanding principal, accrued interest and other debt claims. The Aries facility is a natural gas- fired, combined-cycle power plant located in Pleasant Hill, MO that has been in operation since 2001.
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major North American power company, capable of delivering over 25,000 megawatts of clean, reliable and fuel-efficient electricity to customers and communities in 19 U.S. states and three Canadian provinces. The company owns, leases and operates integrated systems of fuel-efficient natural gas-fired and renewable geothermal power plants. Please visit www.calpine.com for more information.
Sorry Shipman, didnt see ur post asking if i was watching any other q's :)
Still watching NWACQ, DPHIQ, DCNAQ are all ones that still may have more in them.
But, one that hasnt popped yet, not sure if it will, but,..keeping my eye on FDMLQ. However, I would probably check out any DD just in case there is something toxic with this..you never know.
glta
julia
This pink still pack some power. I bought this one before when it still trading in the Nasdaq Exchange under the symbol CPN. ;)