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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.800-3.1%Dec 2 3:59 PM EST
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To: Weekapaug who wrote (471)12/1/1997 7:30:00 PM
From: Steve Fancy  Read Replies (8) of 22640
 
Ken, my broker believes he can dig up the original story on the puts. Will post it if I get it.

I don't know that I'm cleaning up. My stock dosen't break even till 109...and you had said you had a nice profit locked in if you got called at 110. Let it get called if necessary and buy back in on a dip.

Who knows what forces are behind this stock, but it seems that the concerns that tanked the stock from the mid-140 levels are quickly getting squashed. This is a stock that assuming no disaster (devalue currency, take TBR off the block) will most likely trade between 145 and 180 by July. Risk/Reward ratio lean heavily in the reward column, no matter how I look at it.

I'd say it's possible that we got through profit taking at the 105-106 level and are moving up to a new level. The stock seems to run-up when news is expected, and the long-awaited details of the privatisation are expected in January I believe. I would think this would help hold it up. On the other hand, wouldn't surprise me to see the stock reverse course and shoot back down to 85. That's the fun of TBR. If it shows continued strength over the next few days I may sell 100's. Also thinking of selling CPQ 60's.

sf
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