Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.750

-14.5%

Dec 5 9:30 AM EST

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To: Steve Fancy who wrote (987)	2/10/1998 9:06:00 PM
From: jeremy smith	Read Replies (1) of 22640

Steve (1) Yup, stock sure was stuck today. Especially at the time you posted your piece. But did you see where the price was at the time? I was actively involved there , and I recall the stock hitting a wall at 117 3/8. (this was when the local share was at 132.20). This is EXACTLY the strike price of the famous puts that expire next week. Although we have no way of knowing how the BNDES is exposed to these puts, (or the holders of them come to that), the simple fact is that the local market has been talking of nothing else for the past week. A psychological resistance point has been created as a result. Clearly, another 100 + day on the DOW takes us straight through - target 120. (2) I'll check on this tomorrow, but I think you are right that Cardoso technically needs to resign if he is going to run again. I'll find out how it works, and let you know. Jeremy

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