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

To: EPS who wrote (1460)	4/6/1998 2:25:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Hi Victor...always here, just got moving late today. 130 here we come! I'm a tad surprised we are not experiencing a larger initial bounce, but it'll come back. Keep in mind their interest rate meeting is just a couple days before option expiration. I believe Brazilian options expire the same day. I'm still hoping the 135 puts I sold expire worthless in two weeks. 125 calls are moving slowly, unless I'm getting erroneous quotes today, but they oughta kick into high gear as we pass 125. I think what we're seeing is nervousness as the ADR concerns have been brought into the spotlight, but I'm not concerned...should be beyond profit taking and panic selling and cleared the path to steam ahead. Seems like they're catching up on earnings too, so should see March results soon. sf