CPN...CPNL...Is now CPNLQ.PK

[eliteG]

heavily shorted...too heavily shorted...i like it...squeeze time by next week?

[setravis]

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?

[badesrini]

I have taken the position.

[tommyt]

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

[eliteG]

still looks good to me...even with the news that I cant understand anyway. 

[eliteG]

badesrini - still happy with the position  ... I sold this morning. +12%

[badesrini]

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.

[eliteG]

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.   

[fataunt]

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

[eliteG]

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.

[Ramsburg]

thanks G

[fataunt]

thanks for advice!

[evgeny05]

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.

[eliteG]

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

[setravis]

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!