///"What do you think Sniff? 35 cents on the dollar as the absolute, low, bottom end?"///
They are selling the foreign assets which are profitable: maybe $1.01 to the dollar The sale of assets to pay down debt is dilutive. i.e. This is where the problem is: the assets sold no longer contribute to EPS/cash flow.
High 11s to low 12s, I think you're right on the money, unless XEL makes an announcement regarding the recent sell-off.
Originally, I was going to purchase 2000 shares, (have 800 at the moment.) However, after the magnitude of the dividend cut is announced on Wednesday, I may increase my share purchase by 50%. If this holds and we do fall to the low teens, I'll be the happy owner of 3000 shares @ around $14/share.
I'm taking some of Sniff's advice and looking at NRG's ($13B) assets. This will be a buyer's market, due to all of the energy companies asset sales. DYN, WMB, the list goes on with companies selling hard assets to meet liquidity issues. The harder question to answer at the moment is this: With everyone selling, who'll be buying these assets and at how many pennies to the dollar?
What do you think Sniff? 35 cents on the dollar as the absolute, low, bottom end?
When a stock drops 7% in the first 45 minutes, there's much more downside ahead.
TA (see message #3059) indicated last week that $15.20 was support. It held this morning for seconds. I'm on the side lines until there's a statement issued by XEL, or Wednesday when they announce the dividend cut.