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


To: Steve Fancy who wrote (7537)9/4/1998 8:34:00 PM
From: Rohit Nanavati  Respond to of 22640
 
Steve,
Three things come to my mind:
1) Today, BOVEPSA was down as much as 13% and it was halted for trading because there was panic selling.
2) When panic sets in usually that suggests bottom.
3) TBR intraday low was 55. Which is around 68% correction from the high $170. Generally 65% correction is a bottom. (Technically I heard)
Any comments? Will appreciate your input very much. Have a nice weekend
RN