Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.435

+8.7%

Jan 2 9:30 AM EST

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To: djane who wrote (7329)	9/1/1998 12:01:00 AM
From: RockyBalboa	Read Replies (2) of 22640

Not much better than Hongkong regime... >>>>>>>> Losses were kept in check by heavy buying of Telebras (TELB4.SA) preferred in what traders speculated was government intervention. ''Three big banks were doing heavy Telebras buying trying to sustain the market,'' a trader at a local brokerage said. ''It looks like intervention.'' Telebras preferred slipped 4.79 percent to close at 83.50 reais. Telebras common (TELB3.SA) led declining shares tumbling 8.53 percent to close at 59 reais. <<<<<<<<< Now, Brazil wants to try what has been a desperate attempt in Hongkong. It reminds me of the useless efforts to keep a currency from falling by divesting own reserves - national reserves which belong to the people af Brazil. In NY, on the wall street, no one tries to buy tons of shares just to save the dow some fifties to dive. No one jumps to the rescue buying up a stock destined to fall for a while, if he can do better by waiting. Maybe it prevents TBR going down some 5 or perhaps 10 further dollars. I am a bit disappointed if it really happened that it was held artificially by local authorities (?). In the long term, still thumbs up, but I prefer to see a clearer bottom soon - without attempts to lenghten it artificially. Still sticking to a position in TBR, though I hedged with other Latam stocks and NY shorts... BTW, it is rather quiet about TBR breakup and listing of the new companies' ADRs. Is there something I missed? Christian

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