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Trade view / 07 August 2017 at 3:47 GMT

Macro Monday Tactical Book: Signs of breakout in SMI —#SaxoStrats

Global Macro & Crypto Strategist [Asia based] / Saxo Bank Group
Singapore
Instrument: SWISS20.I
Price target: 9492
Market price: 9177
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Background

We like the technicals and breaking out price action on the SMI (Swiss Equity Index). Its sits well with our structural view of depreciating Swiss franc, which should benefit the exporter heavy index.

Management and risk description

Risking 1% of assets under management; the key risk is obviously risk-off in the Eurozone. 

Parameters

Entry: 9177.

Stop: 8858.

Target one: 9492.

Target two: 9748

Time horizon: Four weeks to six months. 

SMI five-year
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 Source: Bloomberg

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
07 August
Mekong Mekong
All my long Swiss stock positions have been surging over the last three days since the dramatic fall in CHF. Unfortunately, I have short calls against many of them.
07 August
Keith Thomas Keith Thomas
Regarding risks, how do North Korean tensions factor in? Could it not cause some flows into the CHF.
07 August
Mekong Mekong
That's a worry, but there is no way of knowing what would happen there.
07 August
Market Predator Market Predator
@Mekong: to sell naked Option could be extremelly risky (I hope you know it). If underlaying volatility spikes up there is no protection and it could be devastating for the account!
@KVP: during my weekend analysis I had the same idea to long SMI like You mate :))
07 August
Mekong Mekong
Hi MP, they are covered calls, I only make trades with clearly defined risk. Looks like they will be called off me at a good profit, or I could roll up and out, but only for a credit and if I feel the rally will continue.
07 August
Mekong Mekong
Thanks for the warning though.
07 August
Market Predator Market Predator
👍

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