* "Red shirt" protesters vow prolonged rally,
* Analysts say rally could go on for weeks
* Baht currency at 22-month high; stocks ease
* Mixed signals from protest leaders (Adds details throughout, PM"s quote, fresh analyst quote)
By Chalathip Thirasoonthrakul
BANGKOK, March 18 (Reuters) - Protesters in Bangkok vowedon Thursday to prolong a mass anti-government rally to forceThailand"s government to call elections, despite doubts themainly rural movement had what it takes to sustain the rally.
On their fifth day on Bangkok"s streets, the red-shirtedprotesters called for a "class war" and threatened to make lifeunbearable for Prime Minister Abhisit Vejjajiva after splashingblood on the gates of his home and office, forcing him to sleepin a military base and preventing him from attendingparliament.
Relieved by the lack of violence and confident Abhisit willsurvive the showdown, investors have poured into Thailand"sfinancial markets, driving the baht currency to a 20-month highand pushing stocks near 22-month peaks this week, althoughshares retreated slightly on Thursday.
"The rally is peaceful without violence, making investorsdare to invest," Finance Minister Korn Chatikavanij toldreporters, noting Thai stocks .SETI were already climbingbefore the protests, gaining 63 percent last year.^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ ^ Take-a-Look at the political crisis, click [ID:nTHAILAND] Scenarios of possible outcomes, click [ID:nSGE62D00C] Q+A about the "red shirts", click [ID:nSGE62D00D] Analysis on the protests, click [ID:nSGE62F040] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ But Kosin Sripaiboon, head of research at UOB Kay HianSecurities in Bangkok, predicted the protests could last weeks,possibly into May, urging investors to remain cautious.
"We believe the red shirts have enough capacity to continueand it could extend into April or May," Kosin said.
The protesters, supporters of ousted premier ThaksinShinawatra, say they have been marginalised by the military,urban elite and royalists who back Abhisit. They said they willride across Bangkok on Saturday in pick-up trucks andmotorcycles in an attempt to convince others to join them.
"It will be the beginning of a class war," Nattawut Saikua,a protest leader, told reporters.
Although the number has dwindled from a peak of up to150,000 on Sunday, tens of thousands remain, with the numbersebbing during the midday heat before swelling again in eveningto sing and dance to folks songs, and listen to politicalspeeches.
PREMIER AT MILITARY BASE
While Abhisit is still backed by the military and amajority in parliament, a prolonged protest could start toundermine his leadership if he is seen to be failing to resolvethe impasse or his ability to govern is hampered.
Concerns protesters may block the entry and exit points togovernment buildings have stopped Abhisit from going to hisoffice or attending a parliamentary session near the mainprotest site. Roads have also been partly blocked in thehistoric heart of the city, testing the patience of Bangkokresidents.
Abhisit, an Oxford-educated economist who came to power atthe end of 2008, has operated since Friday from a fortifiedmilitary base that has doubled as a safe house.
But it is unclear how long the protesters can keep up thepressure. The movement"s many leaders have different ideas onhow to topple the government or when to end the rally. Its coreleaders are distancing themselves from another, more militantfaction who often threaten violence.
"It"s a multi-pronged struggle and it"s hard to predictwhich way it is going to go and whose plan is going toprevail," said Sukhum Nuansakun, an independent politicalanalyst.
"Their rhetoric and reality don"t always match."
The National Human Rights Commission met on Thursday withAbhisit in a bid to defuse tension and get the two sides totalk.
"If the protests are within the rules, the government hasno problem with a talk," Abhisit told a news conference. But hedeclined to say whether there are plans to begin negotiations.
Analysts said a long-term street rally requires betterorganisation -- from financing to supplies and transportation.
Lengthy rallies in Bangkok are not unusual. In 2008,protesters who opposed Thaksin"s allies in the previousgovernment occupied the prime minister"s office for threemonths, and then blockaded Bangkok"s international airportuntil a court ousted the government.
But Sukhum said the "red shirts" look less organised.
"It"s different from the anti-Thaksin movement which wasmore disciplined with one clear direction and one archnemesis."
Others doubt the protesters will get far withoutintervention by the military or the judiciary, both of whichhave helped to bring down Thaksin-allied governments. Themilitary"s top brass remain close allies of Abhisit.
Thaksin was ousted in a coup in 2006 and later sentenced inabsentia to two years jail for graft. His allies were ousted bytwo court rulings in 2008 which disqualified two primeministers, paving the way for Abhisit.
Thaksin now has Montenegrin citizenship and arrived thereearlier this week, officials in the Balkan country said onWednesday [ID:nLDE62G1QH]. (Writing by Ambika Ahuja; Additional reporting by ViparatJantraprapaweth; Editing by Jason Szep and Jerry Norton)
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