This will be quick but I swear that I have not looked at a stock quote in five days. I opened my account (now in Maui – flew in from Oahu last night) and saw that my Calpine shares are now up slightly more than 150%. Yes, 150%! I couldn’t believe that it moved from $2.20 to $3.20 since I left for Hawaii on Tuesday. Closed at $3.26 on Friday.
I knew someone was accumulating shares. If I take profits now, half my trip is paid but I am going to stay on for the ride. We’ll see if it continues.
I called for the stock to move from $1 ($0.97 in December) to $4-$6 based on a discussion with my hedge fund buddy (he gets most of the credit here). I would have never looked at Calpine if it weren’t for him. But I will take credit for buying after studying the price and volume action and determining that the story was telling us to jump in for an upward trend.
My former Calpine Blog Entries:
Wow!!! I’m in the same boat. Friend of mine called me in November and told me about Calpine. I was in a putrid bio tech stock that gave me nothing but heart attacks. I actually forgot about Calpine until we were out having beers a couple weeks ago and I’ve been celebrating each day since!!!
Now that Calpine has settled with their bondholders their financial statement should improve.
When Calpine emerges from bankruptcy are they going to discard existing shares like Kmart etc… ? How can you know
I don’t know what will happen but I am only worried about the trade, not the company. My profit stop is set so I’ll enjoy the ride for as long as possible.
Some hedge funds hold as much as 10 million shares of common stock. Are they going to bail out just before june? Delta just wiped out its stock however didn’t have this pattern.