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

To: Fred Levine who wrote (7417)	9/3/1998 12:23:00 PM
From: Steve Fancy	Respond to of 22640

Reforms key to Brazil economic stability - Cardoso Reuters, Thursday, September 03, 1998 at 11:26 BRASILIA, Sept 3 (Reuters) - President Fernando Henrique Cardoso said Thursday that Brazil's economic stability depended on the approval of government reform projects already pending in Congress, and he said he would not announce a new fiscal package. "Stability depends on the reforms," Cardoso told reporters at a news conference to announce his goals if he is reelected for a second term. He is the leader in polls for general elections on October 4. "There is no point in complaining about economic vulnerability and not collaborating in the reform votes or voting against them," Cardoso said. Copyright 1998, Reuters News Service

To: Fred Levine who wrote (7417)	9/3/1998 12:28:00 PM
From: Steve Fancy	Respond to of 22640

Mexico's Gurria says markets overreacting Reuters, Thursday, September 03, 1998 at 12:21 WASHINGTON, Sept 3 (Reuters) - Mexican Finance Minister Jose Angel Gurria complained on Thursday that markets were overreacting to world financial problems and failing to discriminate between emerging economies. "Markets are certainly overreacting and not discriminating at all between countries that have done their homework and are taking care of their fiscal positions, taking care to have a flexible, modern and responsive exchange rate regime," Gurria told reporters here. "Everyone is thrown in the same basket, saying they are all emerging markets," he said. Gurria was attending a meeting at the International Monetary Fund of finance officials from Latin America's nine main economies to discuss the fallout from global market turmoil. He said Mexico had grown solidly in first quarter, had a fiscal surplus and was expanding employment, but was still suffering from spillover from other emerging markets. Gurria said Mexico had taken preventive measures by squeezing monetary policy. "We expect that this will be a short-term phenomenon." He denied that Latin American countries were in Washington to seek IMF funds to ward off financial troubles. "We have not come to ask for money. We have not come here to organize a great fund to support Latin America," he said. "The main purpose of this meeting is to analyze the situation of world markets and the impact it is having on Latin America and to send a clear message to the market that they must differentiate (between economies)," he said. 898-8383, washington.economic.newsroom@reuters.com)) Copyright 1998, Reuters News Service

To: Fred Levine who wrote (7417)	9/3/1998 12:40:00 PM
From: posjim	Respond to of 22640

Agree, Steve, good to see both good and bad posts. I am long TBR and TBH. Sometimes I daytrade TBR and today I am in at 68 3/4.When I catch it for a point or two, it eases the pain of being long. Hoping that some nice comments come out of the D.C.meeting but I will be out of this trade before close. Hope we get the 2:00pm rally. Thanks again to all who post! Jim

To: Fred Levine who wrote (7417)	9/3/1998 12:58:00 PM
From: P.T.Burnem	Read Replies (2) \| Respond to of 22640

Fred, Actually, mine is a consensus opinion (devaluation) in the process of being discounted in the Telebra's stock price. The question is: "Is there more to TBH's going down then meets the eye?" . If the answer is "no", the stock will likely bottom out soon after the peg is broken, otherwise all bets are off. PTB