SET Index : Of course we’ll see sub 1000 levels again. Guaranteed.
May 23, 2011 Leave a comment
Yesterday we noted the SET is headed to ” 990-1010 and quite possibly a good deal lower”. That intra day supports at 1054 and 1055 failed is not a good sign, but as was obvious to all, volume was not strong at all yesterday at 27bn, well short of even the SET’s 100 day average vol of 31bn.
We warned you on Sunday that global markets are turning, and would like you to keep in mind that SHORTING is a must for successful investors. The days of long only trading are gone, so at the very least get that TFEX account dusted off and trade the SET50 futures for the most part until decent reversal patterns emerge.
US markets are looking dangerous with a close below 12,378 on the Dow overnight likely to see the SET break the May 6 low at 1048 and come off to its 100 day EMA at 1034 in sharp order.