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.
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
|
Counter : 265 Pageviews. |
|
|
|
|
|