Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.597

+1.3%

Dec 24 12:59 PM EST

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To: dougjn who wrote (292)	10/27/1997 12:31:00 AM
From: Aaron Weiss	Read Replies (1) of 22640

Doug, 120 may or may not happen. Once people realize that the fortunes of South America are not intimately linked to those of Asia, TBR is likely to zoom back up. A better support level for TBR is 124 even. A buy order slighly higher (124-1/2 or so) would be a much better bet if you really want to get back in. TBR bounced off of 124 intraday then got up to 127 and change, finally falling back to 125 and change. Of course, one never knows exactly how far to the downside these sudden sell-offs can go...and if Soros really does make a run at the currency, TBR will blow through 120 like wet toilet paper since it's the largest (and most liquid) component of the Bovespa! Strangely enough, Soros has/had a substantial stake in TBR. I wonder if he still has a position? Just my two cents worth, Aaron

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