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

To: md1derful who wrote (6625)	8/13/1998 1:50:00 PM
From: Steve Fancy	Respond to of 22640

Hey folks, what about my call last night of bouncing off an 89-92 bottom? Didn't even go quite that low. So far today is a great sign. Now if we can just close it up. Maaaaybe we'll stop looking back. Probably still a large hoard of shorts to flush. I'll bet many plan on bailing tomorrow? My semi-regular speculation of some a short covering Friday? If we can see an up day overseas, must might happen. So much for trends? The trend is your friend...till it bends. sf

To: md1derful who wrote (6625)	8/13/1998 1:56:00 PM
From: Steve Fancy	Respond to of 22640

Lookin like we may do it guys. My broker just called, said it's been a long time since he's seen so many large block buys. sf

To: md1derful who wrote (6625)	8/13/1998 4:22:00 PM
From: EPS	Respond to of 22640

Hey Doc and Steve, Good show. In a down day! Maybe we reverse course here..?! Doc I wish I knew! For now I would be very careful. The big boys are in charge and a few buying or selling programs.. and one can be out of a lotta of cash..Movements in this stock are explosive...Eventually a more clear trend should emerge for playing options. IF you wish I can explain to you (by e-mail?) how I configured my present option position to try to use my October 110 calls to possibly/hopefully play the game twice (September and October)and increase the expected returns in a certain range of strike prices (100-115) while keeping the costs of the new configuration as small as I could.. What I would do if I were long is [at some point] try to average down and sell calls to offset the costs of doing so while at the same time maximizing the possible profits in a certain range. Victor