Paul, MIR - Mirant, is one of the IPP (Independent Power Producers), CPN, RRI, DYN, WMB, etc are its cousins. MIR was spun off from one of the big electric utilities a while back. It has been smeared by the problems of the industry, but has reached its own deal with California for re-pricing the electricity forward contracts negotiated (at gun-point) 1 1/2 years ago.
I believe the whole sector is due for a huge rebound, MIR is one of the top quality names in the group. earnings are still forecast strong, bond ratings have been decimiated by wimpy Moodys. The chart is compelling, the longer term chart even more so: stockcharts.com[h,a]daclyiay[de][pb200!b50!f][vc60][iut!Lh14,3!La12,26,9]&pref=G which oil thread has been talking about it. tia. larry |
