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Gold/Mining/Energy : Mirant Corporation (MIR)
MIR 27.55-3.5%3:59 PM EST
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To: Oeconomicus who wrote (746)9/12/2002 4:11:27 PM
From: Raymond Duray  Read Replies (1) of 903
 
Bob,

Econ 101 would suggest that in a market that is facing a glut that suppliers have no pricing power. No pricing power means no profits. No profits means no sensible speculator would touch the in-security of the common stock with an eleven foot Lithuanian.

You just don't get it, do you? Mirant is, at best, in a holding pattern for years. At worst, it will eventually collapse due to a financing house-of-cards that the financiers will grow weary of supporting.

You're in dead zone with MIR. Eutrophication and suffocation are its only future.

Good luck breathing, Ray
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