Bruce,
I don't see any reference to upgrades for EP, all I see are more class action law suits filed on Friday (now up to eight), an SEC probe soon to be announced, more credit downgrades to follow, higher interest expenses from a junk bond markets that is now shrinking with yields rising, an improving economy that will result in higher interest rates and higher borrowing costs as a result of the current credit downgrades.
EP has too much debt to be a survivor in it's current capital structure.
As far as RRI vs. EP, last week RRI broke out above it's 10, 50 and 200 day MA which will now serve as support and EP is still below all three MA's which will all serve as resistance.
stockcharts.com[h,a]daclyiay[pb200!b10!b50!d20,2!f][vc60][iut!Ub4!Ua12,26,9!Lh14,3!Lc5!Ld20!Lj[$spx]!Lf]&pref=G
stockcharts.com[h,a]daclyiay[pb200!b10!b50!d20,2!f][vc60][iut!Ub4!Ua12,26,9!Lh14,3!Lc5!Ld20!Lj[$spx]!Lf]&pref=G
Don't forget earnings will be out in two weeks with the same new management that over saw the reserves being written down by 41%. You should expect more of the same as new management uncovers several years of a very desperate management team covering up as much as possible.
EP is also facing another +- $1.5B write down in reserve value in Q1.
I don't see any possible good news for EP for a long time.
I just don't see it, please explain the positive reasons why would anyone want to own this stock????
Jim |
