Global Markets : Meltdown within 2 weeks, sell if there’s a rebound next week.

We warned many weeks ago that the SET would fall below 1000, and we said sell the rebounds and be increasingly careful when buying. Our view is that within a fortnight the global markets will break below year to date lows, and will remain weak until mid to late November. For the SET we may see a bounce from 980-988 or so, but it will not go far. It will then fall below 980 and probably come off to 920-930. If there is a default in Europe which we think is very likely, then 880-900 looks entirely possible.




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