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

To: Sonki who wrote (1226)	3/17/1998 3:15:00 PM
From: Steve Fancy	Read Replies (3) \| Respond to of 22640

Hi Sonki, tough to say, but last fall, once it got over 130 solidly, it hit 145 pretty quick the way I remember. The Bovespa is still 17% off its 52 week high. Looks like my stock is gonna get called at 120...not happy about that, and it's actually the result of confusion between myself and my broker. I'm tired of waiting for a correction...if our market does correct, the impact on Brazil and specifically TBR ought to decline the closer we get to privatization. I've got an order in to sell APR 130 puts at 4. If it doesn't go through by 3:30, I might get more aggressive with the 135's. I want to leave myself room though in case of a pullback, and for the May options that should open up Monday. Still looking for month 1 earnings, and soon, month 2. Month 1 typically should have been reported the end of February, and month 2, the end of March. Based on the the last couple of months, they may lower interest rates in early April also. Also expect news on the sigining of advisor contracts soon...it had been speculated as mid-march and no one has contested the winner to the best of my knowledge. I would hope we'll see the long awaited ADR details soon after that. Good luck, sf