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

To: Anthony L. Califano who wrote (7625)	9/7/1998 2:52:00 PM
From: Steve Fancy	Respond to of 22640

No, Brazil markets are closed today. Although I expect lots of volatility going forward, with a bushel of luck maybe we saw the bottom Friday. I will likely be buying early next week, though short term my strategy is changing to more of an close 'em out daily mentality. Futures and foreign markets rallied suprisingly strong yesterday. Looks like the dollar is continuing to fall significantly against the yen. TBR is soooo oversold, any sign of stability, coupled with the split, could be good for 20-30 points. sf

To: Anthony L. Califano who wrote (7625)	9/7/1998 3:01:00 PM
From: Steve Fancy	Respond to of 22640

Thousands March Across Brazil To Protest Poverty, Neglect Dow Jones Newswires APARECIDA DO NORTE, Brazil (AP)--While many Brazilians celebrated Independence Day Monday, tens of thousands of protesters rallied across the country to demand freedom from poverty and neglect. In dozens of cities, the fourth annual "Cry of the Excluded" drew the landless and the jobless, peasants and squatters, politicans, clergy - and even the occasional cellular-toting businessman. Some 50,000 people gathered for a mass and rally at the massive basilica of Our Revealed Lady, Brazil's patron saint, in Aparecida do Norte 173 kms east of Sao Paulo. Bishop Demetrio Valentini accused the government of President Fernando Henrique Cardoso of not caring about the poor. The peaceful protest was organized by the Roman Catholic Church, labor unions and leftist political parties. Many candidates handed out campaign leaflets at the rallies. In Rio de Janeiro, nearly 2,000 demonstraters marched down Rio Branco Avenue through the heart of the financial district. The same number turned out for a march in Brasilia, the capital. In the northeastern coastal city of Recife, the protest drew 12,000 members of the Landless Rural Workers Movement, a group that often occupies unused land to pressure the government into speeding up agrarian reform. Cardoso wasn't oblivious to the protest. In Brasilia, he signed decrees defending "the rights of the unprotected." One bill gives amnesty to some 100,000 illegal immigrants. A second creates 765,375 hectares of Indian reservations in five states, and a third grants land titles to the descendants of runaway slaves who settled in the eastern Amazon. The bills now go to Congress for approval.

To: Anthony L. Califano who wrote (7625)	9/7/1998 5:39:00 PM
From: MGV	Read Replies (2) \| Respond to of 22640

Anthony - For the moment, nothing fundamental likely will drive this stock price. As discussed on this board, for now, as goes Brazil, so goes TBR. Thus, I don't think the split - though a fundamental positive - will drive the price. If it moves anytime soon, in my opinion it is moving because it is technically oversold. The implication of a technical bounce back is that its legs won't be long. This one requires extraordinary patience. The fundamentals are there. I believe they will get stronger and more compelling but, I don't expect overwhelming demand until the sentiment changes and I don't think the sentiment will change based on the mere listing of the 12. If it were to go to 75 in the short term, I would sell what I bought at 64.