Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.449

-0.3%

12:00 PM EST

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To: Stefan Gruenwald who wrote (76)	7/18/1997 4:37:00 PM
From: David R. Doerr	of 22640

I like to see the confidence. It is my opinion that this "devaluation" news along with analysts downgrading and rate cuts simply was a little too much news for the stock in one week. The company is expected to conitue growing at 20%, and with earnings in 1999 expected to be $19.20, I think you may want to hold those long term options a little further north than $165, perhaps $285. Memories of Mexico 2 years ago have not been forgotten, so we could still see some sell off for the next month or more.

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