CPN: Calpine Corporation Message Board

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Gold/Mining/Energy : CPN: Calpine Corporation

FRO 23.73

+1.7%

3:59 PM EST

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To: Copperfield who wrote (477)	12/31/2002 7:36:33 PM
From: Bridge Player	of 555

In November, after the breakout from the $2 low range, CPN traded between 3 and 3 1/2 for 11 consecutive trading days. Following that, the stock ran to 4 1/2. On the recent retrenchment, the stock held at the 20-day moving average, and traded again in the 3 to 3 1/2 range for 8 consecutive trading days. The technical picture looks quite strong to me. Today's action was strong. With a P/E of maybe 5 or 6 times next years earnings projections, I think CPN has huge long-term potential. The January 2004 and 2005 leaps look particularly attractive to me. In the interest of full disclosure, I am long CPN leap calls.

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