Daily Futures Strategy - KGI Securities
Factors on SET50
- US markets: Dow Jones closed flat, losing 19.59pts, amidst weak manufacturing data and investors awaiting the Senates vote on the bailout plan. The Dow recovered from more than a 200pts loss during the day after the modified financial bailout plan was released.
- Modified bailout plan: Under the plan FDIC would raise the insurance cap to $250,000 from $100,000 and protect depositors if a bank collapses, which should help prevent concerned depositors from making runs on stressed banks.
- Oil prices fell WTi closed down at US$98.25/bbl, down US$2.44/bbl, as U.S. crude oil inventory rose by 4.3 barrel as output recovered from the recent hurricanes.
On Wednesday, S50Z08 faced profit taking at 419.50 before the resistance of 421. Today, we expect it to stand firm above 410, and then move sideways up in the near term.
Action: We recommend speculators to open Long position, if it stands firm above 395.
Technical SET50 Index (Close 415.20, -0.49%)
Technical status: Buy back on weakness.
Technical S50Z08 (Close 415.30, -0.19%)
Technical status: Long at the support.
Comment: Today, we expect SET50 to move sideways in range, but it has a chance to move sideways up. For the short-term, we recommend opening Long positions on weakness in strike 440-420 incase implied volatility is below 30.
Analyst: Worawat Saisuphatphol, CFA 66.2231.1111 Ext. 529 firstname.lastname@example.org
By KGI Securities (Thailand) Public Company Limited on October 2, 2008
|Create Date : 02 ตุลาคม 2551
|Last Update : 2 ตุลาคม 2551 10:22:17 น.
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