where have all the buyers gone?

I have only been in PXUPA since May but am surprised ther is not active buyer particpation at this level.

The EPS produces 20%+ yield at these levels and has significant upside capital potential.

Also looking at a reset mid 2012 with a potential extra 2.25% ie ~ 7% at these levels, or conversion.

Also expect there is a posibility of a takeover of PPX at their low SP in which case we would be redeemed.

Further, the EPS capital appears sured as PPX has low debt.

Am I missing something?