IPPs and Merchant Energy Co.s Message Board

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Strategies & Market Trends : IPPs and Merchant Energy Co.s

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To: Larry S. who wrote (223)	9/26/2002 9:07:59 AM
From: Joe Stocks	Read Replies (2) of 3358

RRI- Larry, REI is distributing 240 million shares of RRI Monday. With that much supply going on to the market I think we are seeing a real buying op taking place. Many holders of REI stock are holding it for income. Many will probably selloff the RRI shares. I think the propects of that event is puuting pressure on the stock. Large institutional holders may have shorted the stock to lock in a price and will cover with the distributed shares. I started a position earlier this week. I will probably keep buying and break my rules as to averaging down. RRI price levels are nearing levels where DYN was selling for 50 cents. You probably recall how well that trade worked out. If you haven't done it yet, listen to RRI's last presentation of this month. The selling of the stock was anticipated there. Also, the Orion refinance looks to take place in OCtober and the presenter sounded confident that that would take place. Once that is completed I would expect a nice jump in the share prices. I'm also buying REI as I think it will do well as some see the purer play being an attractive income producer and the thinking that RRI's price action has been pulling it down. Joe

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