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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (2744)	3/23/2004 1:46:41 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Calpine slides after credit rating (CPN) By Russ Britt LOS ANGELES (CBS.MW) -- Shares of Calpine Corp. (CPN) were off more than 4 percent Tuesday after the energy firm received a negative credit rating from Standard & Poor's relating to its Cal Gen construction entity. The group received a "B" rating with a negative outlook overall after closing a deal for $2.4 billion in secured notes of various types for construction projects. One type of credit, called "third-priority" notes received a "CCC-" rating with "negligible" outlook for reimbursement in the event of a default. Calpine later said it had secured the credit, and its shares recovered somewhat. Calpine shares were down 22 cents to $4.79 on heavy volume, recovering somewhat after falling 7 percent earlier in the session.

To: Tommaso who wrote (2744)	3/23/2004 2:07:06 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Heinz on Gold Date: Tue Mar 23 2004 13:40 trotsky (pm stocks) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved anyone else concerned about this action? PoG almost at 420, but the XAU/HUI still BELOW the first major resistance level ( 101.50 and about 230 respectively ) and not even showing a gain, after plunging yesterday in the face of a $5+ up day? note that the pm indices have 3 layers of resistance directly overhead, and they can't even manage to best the first one on an over $30 run in the PoG from the recent lows. this has always been a bad omen in the past, and probably isn't any different this time. Date: Tue Mar 23 2004 10:57 trotsky (@Pakistan) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved the situation in South Waziristan could deteriorate into outright civil war. if nuclear armed Pakistan turns into a 'failed state' on account of civil war, we'd REALLY have a problem. those of you who know Pakistan are probably aware that the central government's writ doesn't extend into rural Pakistan, and never has. it is not at all hard to imagine that some provinces might try to break away from Pakistan completely.