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

To: md1derful who wrote (1745)	4/17/1998 1:46:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Good job. Tough set of circumstances certainly developed. I'm still holding the APR 125C also, but may go down with the ship on these. I'm still in profit mode on my May puts thanks to diminishing time value. Seems the big concerns are Mr Motta's health, although from everything we know he's not a key figure to completing the privatization at this point, more of a shorter term political concern...I sure hope he lives to see the privatization he worked so hard for go through. A second concern revisited is over the reduced weighting of TBR on their exchange. This came up once before and was temporairly dismissed. News to watch for soon...March earnings, SS reform vote in the next week or so, news on Sergio Motta, and of course, clarification from NYSE regarding the 12 listings. I don't want to miss the dip, but I am waiting until at least Monday to establish an new positions. Could probably do it safely now, but always the possibility of further downside. I'm wondering if we may see a move, up or down in the last hour or so of trading. Seems the fence sitters need to make up their minds. Good luck, we're gonna need it today. sf