Lunchtime Report
SET 1018.98 (+0.02)

SET opened higher, but failed to reach 1025, with a high of 1024.60 (+5.64). After getting stuck at 1024, the bears came in and brought it down to as low as 1017.79 (-1.17) before leveling off.

China, Taiwan, and India are down by more than 1 percent. Hang Seng is down by about half a percent. And Nikkei is slightly positive.

I would expect to see some big moves in the global market within the next week (that could go either direction) due to the results of the Greek bailout issue. If some private creditors steps in to help out, then we would see the markets improve. But all this does is basically buy time. It doesn't tackle the root cause in any way. The plans to reduce wages, cut government spending, and increase taxes in Greece would bring in more money for the government, but who's gonna accept that? If you were the common middle-class Greek, then this is gonna piss you off a lot. Hmm, let's see the governments and banks lend out bad loans, spend a lot of money, and is going to punish the people, who didn't get anything from it, for their terrible money management. That's the mindset. And it makes sense that they would be pissed.

But on the flip side, if the Greeks don't pay, and it is forced to default, then the domino effect will definitely reach Thailand. But first, it will reach all the Euro countries. Then, people will start worrying more and more whether or not Ireland, Spain, and Portugal are gonna go belly-up. Then investors' confidence around the world would suffer. There'll be a panic sell in the US market on fears of another recession. Foreign Investments in China slows down. Foreign investors are gonna pull more money out of the Thai market. SET goes down to 800-900 level. It's Doomsday all over again.

Am I being to pessimistic? Letting my imagination go a little too far. Maybe I need another cup of coffee and that hourly dose of nicotine. We will find out soon enough.