Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.030

-3.7%

Nov 7 9:30 AM EST

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To: steve kammerer who wrote (12234)	1/22/1999 10:56:00 AM
From: Steve Fancy	Read Replies (3) of 22640

Steve, about the only thing I can add is the fear of darkness factor is as present as it always was. We have reason to believe the stock was considerably undervalued at US$ 130. Why does it bother you that declines seem to match currency devaluation? This suggests to me that the big guys don't know what else to do for the moment, and at the point the situation becomes clearer we've got some upside to make up. As a story yesterday pointed out, the markets have a tendancy to overshoot before leveling off. Real devaluation seems waay overdone to me based on continued successful voting on the Congressional package. The mounting press of real slipping to 2 or 3 seems typical of the herd mentality...just as all these experts start predicting 50% off the DOW when sentiment turns for a couple days, and DOW 10K and 12K after a few days of upside. Just rambling I guess...I suppose the issue for the moment is at what level the real stabilizes ahead of continued voting...if it stabilizes at all? sf

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