Mirant Corporation (MIR) Message Board

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Gold/Mining/Energy : Mirant Corporation (MIR)

MIR 24.65

+3.5%

3:59 PM EST

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To: howsmydrivingal who wrote (198)	2/21/2002 11:12:13 AM
From: Asymmetric	Read Replies (1) of 903

Nobody is giving MIR benefit of a doubt. For some reason, it's always hardest to buy at or near the bottom, and always easiest to buy near tops. Linear thinking I suppose. Many investors/institutions have been ground up in this sector as Calpine, AES, etc break one low after another. For ex, the 60 million shares Mirant sold in December via Credit Suisse First Boston at 13.70 that was OVERSUBSCRIBED by a whopping 14 million shares are now down (13.70-8.10/5.6) over -40%...pretty sobering for a two month hold. But to me, the market is valuing Mirant as if they will be unable to find ANY partner for a joint venture to back their trading operations, or that any further power plant sales will be sold off at a 50% discount from normal average selling price. If that were true, Mirant would be better off keeping it's plants. I don't know where the bottom is, but at 8.14 you are closer to it than all who bought before you...and that's a pretty long line. Good luck to all. Peter.

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