INDONESIA'S PT TELECOM(TLK) Message Board

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Technology Stocks : INDONESIA'S PT TELECOM(TLK)

TLK 20.93

-0.8%

Nov 21 3:59 PM EST

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To: Jyoti sharma who wrote (271)	2/9/1998 1:28:00 PM
From: tom	Read Replies (1) of 947

I agree that normally broker downgrades are a bullish sign but in TLK's case they have only just started. I have been bearish for some time and only now are the downgrades coming through. Most brokers are still positive as they think TLK will survive and Indo is a growth market long term etc etc but they ignore the valuation. It is trading like an investment trust ie at big premium because of the lack of other opportunities. If the market rallies and the Rupiah strengthens then local fund managers will sell TLK to buy other stocks and if the market tanks then it will outperform the index - but still go down. I think that we agree that TLK is a relative rather than an absolute buy? Tom

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