14/6/2011 5:03PM

SET 1034.92 (+19.39)

So the afternoon session picked up quite dramatically. SET passed the 1025 resistance and just shot up from there, closing at the high. Of course, this is bullish and expect further increase tomorrow. Next resistance: 1048-1052.

COLOR disappointingly closed at the day's low at 6.40. I'm sure a lot of people are in pain, but that's what happens when you open up more than 200% above the IPO price and get too much attention. Talking about attention, the day's underdog, GLOBAL-W1, made a fantastic run up, closing at 1.88 or about an 80%+ increase! Holy Mother of God! Now that's what I call heaven. If you look at its actual fair value, it's -0.50 baht (7.5 bht conversion at a 1:1 rate). But who cares! If you are good with momentum and know when to cut loss, then you're fine. Tomorrow still looks very promising. I'm not trying to cheer it up or anything, but it really does look good (I don't wanna jinx it though). I made a good choice today to go with GLOBAL-W1 and left COLOR alone.

Banking, Petrochemicals, Energy, and Commerce led the increase today. Not surprisingly, since the market took a dump on these sectors, esp. Banking, last week.

Industrial Production (up 13.3%) numbers from China topped estimates by analysts, and its inflation (up 5.5%) numbers are as expected, so this was the real push in the global market today, since investors have been especially worried about global economic recovery after disappointing numbers from the US for the last couple of weeks. At the same time, China did also raise its reserve ratio by 0.5% to 21.5%, which is pretty high. European Stocks are looking pretty good right now. Hopefully, it stays this way for the rest of the day. The US should be good tonight too. China really came in and saved the day this time. If these numbers had shown a slowdown, it would have been hell.

SET Recap: Resistance 1048-1052, Support 1020-1025

Good luck tomorrow.