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To: Pruguy who wrote (2592)	1/13/1999 10:29:00 PM
From: Cyrus	Read Replies (2) \| Respond to of 41369

Brazil has the potential to be a far larger problem than some give it credit for. Personally I believe it will be repaired because it has to, but in three days, make that two it could devalue again on it's way to a floating currency. It has not completed all of the requirements of the IMF to receive all of the bailout package. Being the largest economy in South America it has an effect on the rest of the countries in the area including Mexico, this area compromises the US third largest trading partner behind Canada and Japan. Today its market was down 10% before intervention paired the losses to 5%. I would be cautious here as sometimes these signs are ignored in there early stages. IMHO

To: Pruguy who wrote (2592)	1/14/1999 1:04:00 AM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 41369

Pruguy, you are correct. As I reread the piece there are a couple of errors and I apologize; written hastily but that is not an excuse. On the first, I was quoting CNBC stating that Brazil, provides 45% of THE income OF SOUTH AMERICA, ( not of our income from South America ).On the 2nd point, Brazil does provide only 2.5% of the income of OUR S&P. The greater fear is that the tumbling of Brazil may set off a domino effect for other currencies. After seeing the larger Asia tumble and the mighty Japan crawl, with nary a budge to our living standards, I tend to agree with the latest CNBC poll today that indicates that the majority of Americans, 51% to be precise , do not feel that the Clinton trial will affect the markets. So, Brazil does not matter ( since obviously he can't save Brazil ). These guys in S.America have been squabbling and wasting time for eons.Wouldn't be surprised that when Brazil sees that they are sinking with nobody coming to help, they'll all start swinging their arms and swim to shore by cutting their huge budget deficit. Looking to tomorrow, great earnings from Motorola and Apple; we are one day from options expiration Fri 15th, and the last day to load up on AOL before earnings and big earnings week next week. I say we'll be up 80 points on the Dow tomorrow;AOL will close at 153-154 tomorrow, 156 Fri, then open at 162-165 on Tues and possibly close at 170, there, I ran out of guesses, TA