Random Thoughts: Next time I’ll go take over the MOF

Yesterday the total traded volume in the SET nearly hit THB 50 bn, a level of volume we haven’t seen for a few months, what happened here? MSCI Index rebalancing (BTS and TMB), foreigners sold off THB 9 bn worth of shares, but the market still rose as retail investors, local institutions and local prop desks picked up everything, we’ve always joked “We buy when the foreigners sell, and we sell when the foreigners buy”

The Thai Baht has now weakened past THB/USD 32 levels, we now wonder aloud when brokers begin touting export related companies

The 1,350 has been the unofficial level of lore for the SET, providing technical support for the past few months, we still see it holding.

We’re seeing good bargains in the market and decent dividend yields coming back, but does bad sentiment override good value? Something to think about when looking @ the auto sector.

Protests..ok still in the news, the Ministry of Finance was overtaken by 40 protestors! Yup only 40 according to the news, this kind of inspires me, the next time the MoF makes a silly decision I’ll round up my analysts and back office team to rule the MOF for the day.

We still don’t see Pheu Thai stepping down, they’ve enforced the Internal Security Act, a snap election or dissolution of parliament will most likely result in less seats, why would they want to give up power, and finally some people are mentioning it, but the Kings Birthday is on the 5th December, does Suthep really think he’s going to run protests during that day?

Year end rally? Has it disappeared? Will it come back? questions in our minds, we see two catalysts, protests going away & LTF’s.

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