Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.568

-4.9%

12:27 PM EST

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To: chirodoc who wrote (187)	8/28/1997 10:55:00 PM
From: Michael Burry	of 22640

Re: Technical and Fundamental Picture Technical (I'm a former futures trader who relied on this extensively at one point, but not now -- I like sleep): The stock just retested the downtrend line on this latest rally. You could see as it was rising on light volume it was not going to break the trend. Now heavy volume on the bounce of the trend line. The only question now is will it retest it's recent low near 120, or will it blow by it? If it blows by, then we have a lower lows and lower highs picture that is generally bad for bulls. That said, ignore the technicals, unless you want to trade -- it is a great trading stock for the technician with an inclination. This is a great fundamental buy. Gotta go, but more on this later. Good Investing, Mike

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