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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21262)	8/8/2000 9:17:29 AM
From: Art Baeckel	Read Replies (2) \| Respond to of 22640

Brazil stocks may open up, depend on U.S. mkts,Petrobras Reuters Company News - August 08, 2000 08:40 Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. SAO PAULO, Aug 8 (Reuters) - Brazilian shares may open slightly higher on Tuesday, continuing Monday's upward trend, but are seen guided by main U.S. stock indices as well as local deals with state oil giant Petrobras after the close of its ordinary stock share offer, traders said. "Petrobras will weigh on the market today. There must be lots of speculative deals with the issue as its share offering closes and players try to guess what the final demand is," said a seniortrader with ABN AMRO bank in Sao Paulo. The shares of state-owned oil firm rose 3.4 percent to 47.54 reais on the last day of the company's $4.4 billion share offering on Monday. Traders abstained from predicting in what direction Petrobras could go on Tuesday. The benchmark Bovespa stock index rose 1.4 percent to 16,996 on Monday in a fourth consecutive rise, on the heels of a 2 percent gain in the Nasdaq index and outpacing the Dow Jones Industrial Average's rise of 0.9 percent. The market also took heart from signs that a local political scandal that had threatened the presidency was fizzling out, traders said. * Turnover was still weak at 558 million reais ($310 million), less than July's daily average of 624 million reais. * Telecommunications companies Brasil Telecom and Embratel were among the day's most important gainers. * Utility Cesp slumped 4.7 percent to 22.26 reais as investors continued to speculate over the company's expected privatisation, set for November. Optimism over the sale has driven Cesp shares to record highs over past weeks. * The index has closed up 3.3 percent so far this month, but is still down 0.6 percent since the start of the year.

To: Art Baeckel who wrote (21262)	8/8/2000 11:51:45 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Art, Yes I'm feeling good about TNE, though I've never really worried about it. TNE has been a sleeping giant IMO. Kinda like CPQ, and the ex-sleeping giant ALA. My year end target on TNE is 35-40 and CPQ 45-50. I'm loaded to the hilt on both with both stock and options. I think I may pick up a '01 options position on TNE today, and be prepared to sell the 25 Oct 30's I hold sometime soon. I need to get a tad over 3 out of 'em to break even. Sorry to hear about those margin calls Art. After the terror of the fall of '98 I have myself totally off of margin. I still remember my dismay as my August '98 month-end statement showed my account value at 12K<g>. I had turned six figures into 12K. But I hung in with the stuff I believed in, doubled, tripled and in some cases quadrupled my positions at fire sale prices, took some nasty losses on some naked options I had sold and everything has turned around nicely for me. I had some huge gains on CS, NVLS and ALA options that really helped. NVLS looks like it may be in buy territory again as sentiment seems pretty bad on semis at the moment. All these skitzy herd like investors think the semi cycle has peaked....gimmie a break LOL. Maybe peaked for the next 30 days<g>. We're in the 2000's man. Tech will not stop IMO...ever. Go TNE! I think this one is just waiting to pop. Kinda like CPQ has been since it's last earnings report...if you were watching you could tell it was finally ready to move. TNE may be a victim of general market conditions short term as it is the bellweather stock in the bovespa, but I'm a big believer in this stock heading into late year and early '01. regards, sf