The SET has been on steroids since QE. Cheap money may be helping the US economy, but a lot of it has found its way to emerging markets, including Thailand. Following the hot money, local retail piled in. Apparently there are now broker ads at MRT stations promoting retail accounts. Retail has driven a small cap bubble here. Well, Cyprus has triggered a move of some foreign funds out, and the main index dipped 4.29% in the last 4 sessions. Today at the mid-day break it is down around 3.96% for the day. Let's see where this all ends. http://www.bangkokpost.com/business/news/341877/set-dives-60-58-points-midday