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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 Senate’s 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.

Technical view:
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%)
Support: 412/405
Resistance: 430/443
Technical status: Buy back on weakness.

Technical S50Z08 (Close 415.30, -0.19%)
Support: 410/404
Resistance: 421/426
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 worawats@kgi.co.th

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. 0 comments
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