I wrote a blog post about Calpine back on December 6, 2006 titled Super Speculation – Yes – Tips are for Suckers. The stock was trading at $0.97 and I highlighted multiple areas of accumulation on the daily chart. As I said then, I am not a bottom fisher for crappy stocks but I couldn’t get away from the obvious accumulation. I haven’t watched the market over the past week but to my surprise, CPNLQ is up over 50% in my portfolio as I did grab shares a lot higher than $0.97 ($1.31 to be exact). My position is very small as it was complete speculation but the stock still interests me as we head towards June and the big decision.

I am not sure what will happen or if the stock can reach the $4 to $6 area that some hedge fund traders suggest or believe but I will tag along for the ride with these institutional investors.

*Warning: this stock is extremely speculative and this post is not a recommendation to buy or sell! Trade at your own discretion, especially in a stock like this!

Institutional Holdings and Activity:
Money Market: 25
Mutual Funds: 10
Other: 1

Shares Bought last Period: 18,524,253
Shares Sold last Period: 520,641

Shares held Previous Period: 4,958,647

Value of Shares Bought last Period: $29,083,077
Value of Shares Sold last Period: $817,407

Current Value of Shares held last Period: $36,050,747

As you can see, someone is accumulating some major shares in Calpine.

Here are the top five holders:
Steelhead Partners LLC.
Eaton Vance Floating Rate Portfolio
Calpers (California Public Employees)
Emanuel E. Geduld
Lehman Brothers Holdings Inc.