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

To: Steve Fancy who wrote (9501)	11/6/1998 2:37:00 PM
From: CuttotheCore	Read Replies (2) \| Respond to of 22640

Steve, I think you made a good call on tbr falling back into a trading range. On 9/21 tbr gapped down several points on the open, fell and then rallied for 3 days. It could not reverse and on the 25th after opening at about 86 1/8 fell. That is our low today. It is my opinion that if we hold we could rally into the close, but if we fall thru I would expect a selloff going into the weekend. Remember how sensitive tbr is to international events/iraq. I wouldn't expect any collapse with the loan approval and babybra listings coming up but do concur with the trading range theory you posited yesterday. If you review your charts you will also see that on the 20th (sept) tbr gapped down from 92 1/2 to open at 90. That 90-92 1/2 resistance is key for further advance and is our resistance for now. All imho.