Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.570

-4.5%

Dec 26 9:30 AM EST

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To: wl9839 who wrote (15329)	5/17/1999 1:11:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Warren, it doesn't really surprise me. Based on TBH volume, I would guess the majority of the selling pressure is coming from Brazil with great fears of the big pending meeting. Stock has had quite the run and they are locking in profits just in case. I suspect both upside and downside are limited over the shorter term from this level. I think the Fed would be foolish to even change the bias at this point. Worked to hard to stabilize the world situation...why risk it all now with Rubin resigning and one bad report? OTOH, as I pointed out elsewhere today, DELL and AMAT report tomorrow. This in my mind is the end of earnings season and ORCL (mid-june) is the slow start to the next. In between earnings warnings start coming into play. I think generally we'll be lucky to see even sideways trading for the next 4-6 weeks. FWIW, I think we could be looking at DOW 9800-9900 over the short term. sf sf

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