CPN: Calpine Corporation Message Board

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Gold/Mining/Energy : CPN: Calpine Corporation

FRO 23.66

-0.3%

Nov 7 3:59 PM EST

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To: Howard R. Hansen who wrote (238)	2/6/2002 11:26:55 PM
From: Hawkmoon	of 555

My bet is that the holders of the convertibles actually shorted the stock, using the convertible notes as upside protection in case the trade went against them. The stock never approached the the $18 level after that transaction, which indicates that instead of placing a floor under the shares as we all hoped would happen, it placed a ceiling against which the shorts piled on and have made almost 50% (from $16-17 down to where it is today). The question is when will they cover, or is the stock set to fall to $5/share before it finally bottoms? askresearch.com Hawk

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