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Strategies & Market Trends : Thai Funds

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To: Polartee who wrote (18)	9/25/1997 2:31:00 PM
From: Heretic	of 107

John: In the last two days, the Thai market is up more than 6% and volume is picking up. The baht is up something like 4%. The banking sector was up 6.5% last night (TC & TTF are both heavy in banks). Thailand's draft constitution will likely be passed on Saturday, and if it does, I expect the market, volume, and investor confidence to continue to improve. Sure there will be more volatility, but I believe we have a durable bottom in place. How will TC & TTF react? I tend to believe that as situation improves, the opportunity to profit from a shrinking premium via a short position will never materialize. Good luck.

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