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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (5286)	12/14/2001 3:51:49 PM
From: Stoctrash	Read Replies (1) \| Respond to of 33421

you just know they are going to ramp this thing when OBL is found DOA and wipe out all the shorts with stops,..i can smell it <GGG> ....not until then will the "fun" start IMO. ============= Its 8.675 percent notes maturing in 2010 fell as low as 75 cents on the dollar from about 84 cents Thursday, according to Merrill Lynch & Co. data. Its yield crossed above 13.6 percent, up about two points. The bonds were trading above face value in November. Moody's announcement comes just a few months after the rating agency raised Calpine credit to investment-grade status, leaving investors surprised by the downgrade risk their debt now carries. Moody's currently rates Calpine's long-term debt "Baa3," the lowest rung of its investment grades. Standard & Poor's rates Calpine's debt "BB+," its highest junk-level credit rating.