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

To: RockyBalboa who wrote (6601)	8/13/1998 7:07:00 AM
From: EPS	Respond to of 22640

According to Yahoo the Yen has now (7 am) improved to 145+ or so. Next I post an interesting article in the NYT because it seems to me that the discussion there applies quite well to the TBR situation. IMHO the big guys have now (maybe they always did) total control of the stock, in so far as they probably control most of the trading, they can manipulate/exagerate the fears or attractiveness.. can change their recommendations on a dime, etc, etc, etc. In short IMHO I suspect that most of the short selling is done by institutions. Article follows. Victor

To: RockyBalboa who wrote (6601)	8/13/1998 7:08:00 AM
From: Oracle	Read Replies (1) \| Respond to of 22640

Bloody scary stuff, halting the exchange, I looked on Yahoo, and have never seen ALL of europe down on a single day, may not have been looking for long, but this is a first for me. Any other views. I have been working on the resistance levels on the way down : - 94-95 - probably be broken on the open 90 - next level could be broken on the open 84 - this is my guess for a low today 74 - Friday ? The BIG problem with TBR, is that Brazil opens before the US, these guys get spooked by anything thats red, and down she goes, only to gap down on the US open, bloody frustrating if you are wanting to sell or buy. So my guess is low of 84 today - hang on !!!!!!! Steve, I bet your bloody happy all your short puts were for July !?