I suspect Nikkei will rally some 500 points today ,, however the actual bail out will not take place till 1999 ,, a buying opportunity at open as I still expect one more rally ,, going into feel good meeting between White House and Diet ,, Dow 8100 - 8200 is not out of the question ,,
We will have Bill Clinton effect to content with at open ,,, and might see a late after noon rally ..
As for Brazil,, a sweeping IMF as well as independent banks commitment is needed in tune of at least 10 - 12 billion dollars,,,
I would think ,, further erosion in the Brazillian currency ,, I would be a seller of TBR at over 78 - 80 .. and a highly speculative buyer below 60 ,, under current circumstances,, it was a nice wild ride for a few days ,, but indeed when everything is said and done ,, TBR is a good company ..
I will follow it closely with you ,, best of luck ,, |
