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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.872+4.5%3:59 PM EST
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To: Steve Fancy who wrote (15186)5/10/1999 8:40:00 PM
From: md1derful  Read Replies (1) of 22640
 
SF and WJ: Just little ole me again..its interesting that many of us continue to be in the red with this stock..having purchased it about the time of the auction last year..and many of us have held, the sentiment being that Brazil would recover sooner or later..clearly the watershed event was the "successful" floating of the real in Jan (I believe)..I, for one refused to sell this puppy when she hit 49..remember those days!!! Aweful!! Rather than getting mad, I chose to get even, and that is when I started shorting puts on ubb with the stock around 10-11..making several hundred to a few thousand each month with this strategy while at the same time going long the calls far out..if Brazil were going to recover, this proxy-stock had to recover with it...of course 30 calls and some 16 odd points later, If have practically made up for all the initial investment I made in tbr, some 60 grand if I recall!!...and now all the money tbh has gained since the Jan. lows is icing on the cake....and the same goes for Mexico and I think for Indonesia in the future..jmho..oh, incidently SF..check out macr..approaching highs from 4-5 years ago..I she breaks, then look out above..am studying far out call positions as we speak..regards..stay on this Brazil train..tremendous forward momentum..don't sell into this just yet..cheers!
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