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

To: Jay8088 who wrote (7641)	9/8/1998 12:36:00 PM
From: MGV	Read Replies (1) \| Respond to of 22640

Is TBR a black widow or what? So seductive, very deadly. It is clearer by the day how negative the sentiment is concerning Latin America and Brazil in particular. The depth of the sentiment is clear from the failure to respond as issues that had depressed TBR to these levels (i.e. devaluation) become less severe. Greenspan's statements about a rate cut should have gone a long way to dispel devaluation pressure on Brazil. Likewise the strength of the yen and by extension the renminbi should alleviate pressure. Still, TBR languishes. It is not even bouncing much from what must be an extreme oversold position. Another part of the problem is the abundance of relative values in the overall market. Sony is up almost 7 from 72. EMC, WCOM, DELL are all up big. I'm more convinced that the negative sentiment out there will require a big Cardoso win portending and followed by SS and other deficit reduction measures.