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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (1515)	10/12/2006 8:03:32 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

The DRRA bond traded 1.50 offering good value if one wants to short the preferred stock which still trades at 1.75 or about 7% of its nominal value. Total price disconnect and DRRA shall recover once it files Ch.11 I think we are less than 2 days away and the market is "out of control". The DRRA senior hit 25% and it shows how bad things are now. A recovery scenario is definitely not priced in by the market.