I bought 50K worth on close.Been watching too long. My theory...

I bought 50K worth on close.

Been watching too long.

My theory is....if they can whack 15% off their debt level through the sale of those 4 mallls for 1.1 billion........I think CNP will head back to over $1 for good.

The big question though..at which point wil the banks be happy.

Still going to be probably 6.5 billion in debt.

Maybe I am wrong...but I heard recently if CNP sold all assets even at credit crunch prices we are looking at 9-10 billion in money in the bank....minus 7.8 billion owed....they are ahead.

Thats not the point though.

I broke a few rules on close to buy...but something tells me its good buy under 30 cents CNP and the market is thinking like me...that maybe CNP may do an Aristocrap and do a similar medium term jump form 90 cents to $10 bucks.


For CNP..that probably means $4-6

Given the credit crunch though....lets discount it.

My theory is now that if CNP can really get rid of 1.1 billion of debt..I as conservatively as I can put them around $1-$1.50

I may be wrong..just a punt for me...but I like the CNP story.

Previously $10-$12 before the credit crunch. But this is one that may make it through. It will take a while but I like 15% of debt wiped off the bottom line.