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

To: Steve Fancy who wrote (7514)	9/4/1998 3:03:00 PM
From: RockyBalboa	Respond to of 22640

Incredible! I have never seen that in a 10 year history. Brazil BVSp and TBR meltdown is only comparable to the plunge of the russian stock market showing no signs of any support. What makes me thinking is the ever-incereasing volume. I thought, that the volume will drie up at any point. Nope. If there really happend some intervention from the government last week, they just see how much it improved the situation. The BVSP is quiet now, apparently trading is suspended. Which is dangerous. ADR trading is not halted so, the ADR may trade far off as it is the only ability to trade Brazilian stocks for now. The longer I think of it, it has became clearer now that the only chance for Brazil is to devaluate immediately at a say, hefty, 30-40% level, and seek IMF aid and new refinancing then. I really wish that they fare well and choose the best actions but the recent proposals indeed lit fire. (The drop makes me sad a bit, as I was bullish on TBR and always have been shy to start a short position there...) Christian