Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: yard_man who wrote (57392)	1/12/2001 8:27:03 AM
From: flatsville	Read Replies (2) of 436258

Good post. I wish you'd comment more on these issues. I only see a couple of plays for what is going on in CA...Perhaps you could buy the suppliers making the great profits during the tight times -- but that has the risk that the price gets fixed by regulators ... There is another way...To buy utes mistakenly beaten down by the CA crisis. For example DUK share price has just gotten slaughtered in the past few days. Those who jumped aboard the gravy train late didn't realize what they were buying. They didn't know that Duke Energy North American [all the merchant plants DUK owns in N. America] contribute just 10% of DUK's overall earnings. Of this, CA is a minor consideration. Per a DUK conference call today, they have sold forward 90% of their CA contract production to non-utes. Essentially they have no exposure to the CA problem on the downside. But, you wouldn't know it from what happened to the stock the past week. When this nonsense settles down I'm buying more. The share price will come back.

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