120 pts from it’s all time high
So, who wants to bet against the market breaking through it tomorrow?
Edit: All time high was ~1,753 on the 4th jan ’94
So, who wants to bet against the market breaking through it tomorrow?
Edit: All time high was ~1,753 on the 4th jan ’94
Jay
thought the all-time high was 1753?
Jay
1789.16 back in Jan 1994 sorry
Pon
That looks correct, will amend the title and add an extra zero. thanks for spotting it.
1789 may be intra day- close is 1753
Jordan
Great if you are holding big caps Just wonder what it will take for mid and small caps to join the party?
Jay
seriously lol
Bo Stenberg
My value portfolio liquidated itself 3 months ago. See massive cash buildup at BH, Blankfein’s recent comment (in public) in the States.
No worries, the president of the Investment Analysts Association said there was no bubble.
On July 1, 1997, the Minister of Finance said there were no circumstances whatsoever the BOT would devalue the baht. He floated the next day.
The Relative Strength Index on the SET this date is at 91.
Jay
so you think it’s only downhill from here?
Bo Stenberg
Problem is the word “only.” It was way “overbought” at 91–the behaviorist odds point to a pullback. They are only odds (probability) based on “return to the mean.” I have seen these odds and the RSI go under the bus quite a few times and this may be one of them; so if you’re short or hedging, jack be nimble. N.B. This is no place, e.g., puts, to hang on for the long term, etc. DW’s expire and you will lose it all if you’re wrong. However, the premium is all you can lose.
The timing of this leg up coincided with the departure of a former PM. Uhhhh, WTF?
See also however highly-publicised lemming-like switch to Emerging Market funds. Old saw on Wall Street: when the bull market hits the cover of Time Magazine (i.e., mass media notice), Sell.
You pays your money, you takes your chances.
Jay
well yingluck’s final court appearance was either going to end in jail-time and protests (fund flows out) or she flees and all is calm (fund flows in)
the court is announcing the verdict next week so we could see some disruption in Bangkok and foreigners start pulling out some of their money…
Bo Stenberg
Of possible interest, out yesterday.
https://www.project-syndicate.org/commentary/us-stock-volatility-bear-market-by-robert-j–shiller-2017-09
Pon
I don’t see a domestic event that will lead to the Thai market declining 10-20%. Anything to drive this will be global.