Medium term
Trade view / 07 August 2017 at 3:47 GMT

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

Global Macro Strategist / Saxo Bank Group - Singapore Hub
Instrument: SWISS20.I
Price target: 9492
Market price: 9177

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. 


Entry: 9177.

Stop: 8858.

Target one: 9492.

Target two: 9748

Time horizon: Four weeks to six months. 

SMI five-year
 Source: Bloomberg

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on 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


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail