re: CDS yep remember that AKNS did the same thing a few months ago in the $7s before its big run to $16 AKNS did a pp with the warrants at 10.20 and it was being sold in the $7s on the same day CDS warrants @ $8 and preferred @ $7: <a href="http://biz.yahoo.com/prnews/080212/cltu048.html?.v=101" target="_blank">http://biz.yahoo.com/prnews/080212/cltu048.html?.v=101</a>