SET Index : Brief pullback not a bad thing
March 11, 2011 Leave a comment
Thursday’s performance was impressive – on a day when nearly all global markets took a hit, the SET remained as the world’s safe haven….. but today, surely a pullback to the 1006-1004 range is possible, with 1013 and 1010 initial supports.
There is just too much going on in terms of demonstrations across the Middle East and North Africa today not be a tad risk averse. We think gold and oil will rebound strongly today, and as far as the Thai market goes, good luck to the prop desks I n holding it up if they try to do so. They are morel likely to take profits in our view, so beware today – it’s been a great fortnight, so a brief pullback isn’t such a bad thing.