Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.375

+0.7%

2:01 PM EST

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To: Steve Fancy who wrote (6131)	7/30/1998 10:58:00 PM
From: Tom Piersanti	Read Replies (1) of 22640

Question here... I mentioned here, or somewhere, that I didnt think it was a bad sign that the price did not jump aggressively (only 5 pts.) yesterday (7/29) since there were so many other factors contributing to holding down the stock. Now I am trying to think about the psychology out there. Up 12 pts in 2 days is nice but still below where many of us, and the analysts, think we are going. Why??? I suppose there are many reasons including emerging market uncertainty, new management uncertainty currency risk, etc. But I am curious who is buying TBR right now. Only speculators/arbitrageurs I imagine. Who is selling or showing an offer?? MANY, MANY people. Profit taking public, people who think the event has happened and many mutual funds. Why do the funds sell?? Or do they? I think they are motivated sellers not interested in getting all 12 spinoffs who also have pass through tax issues to contend with. They have held TBR forever. Like I said in some other post, I think the fun starts when the spin offs all list. Any comments???

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