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I recall reading an article about penny stocks, the gist of the article is watch out for a company that keeps saying how they are going to make money this year when it is different from last year. Often the only product that they are really selling is stock.

It is beginning to look like Calpine is the only large cap penny stock in the world. The characteristics are: Unregulated securities deals. (just like Bulletin board stocks.) No profits. Changing business models. Un-invested management. Stock price that has nothing to do with company value.

This is company's news is just as facinating as watching New Orleans flood.

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