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

To: Madharry who wrote (1421)	4/3/1998 11:07:00 AM
From: Steve Fancy	Read Replies (4) \| Respond to of 22640

Armin, I believe you're right. Unfortunately I'm in kind of deep on two put positions. Contemplating opening another, but seems that at least for the moment, a lot of uncertainty is circulating. Between the concerns of reduced premiums on some of the wireless companies, increasing uncertainty in the Asian markets again, and nervousness regarding ADR and option split details, I find myself in a state of indecision. Might buy some calls. Are you buying at these levels? Are you predicting a drop below 120? sf