Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: Peter van Steennis who wrote (67)	10/18/2004 1:59:19 AM
From: jim_p	Read Replies (1) of 13449

Peter, Good question. The reason I bought back in early was because I expect RRI to announce the terms of a debt restructure by the end of the month which should result in another credit upgrade. Also the stock is lower from when it's credit was just upgrade not very long ago. RRI is still very under valued and they are continuing to perform well according to their game plan. RRI's peers have already announced poor earnings due to cooler weather and the market should have priced in the expected poor results for RRI's 3Q by now?? I also feel the size of the gains from the sale of the hydro assets should overwhelm any disappointment in the 3Q weather related poor results. My main concern today is the market in general, but I'm only about 20% invested and hoping for a good old fashioned October panic to buy some nice stocks cheep. 2005 and 2006 earnings projections were way to high even before oil went from $40 to 55.00. Oil is placing a lot of pressure for the market to recognize the obvious need for a major correction in future earnings expectations. JMHO, Jim

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