Trade Ideas May 16, 2012

by Global Prime Analysts
in Trade Ideas
16 May 2012

Short Trades
Recommendation	Code	Price	Target	Stop	Last updated
Short Sell	TLS		$3.45	$3.65	16/05/2012
Stopped out
Recommendation	Code	Price	Target	Stop	Last updated
Short Sell	WDC		$9.15	$9.57	1605/2012
Stopped out
Long Trades
Recommendation	Code	Price	Target	Stop	Last updated
Long Buy	QAN		$1.65	$1.43	16/05/2012
Correction in Virgin from peak to trough was 18% before a 10% rebound since our recommendation. QAN has now corrected 17% and is in line with the massive area of support across 1.45/1.44. QAN must hold here and with reversal in VAH, falling jet fuel prices and interest rate cuts PLUS court ruling last week of now pilot industrial action permitted, much of the downward pressure on the share price is now alleviated. Could see a very aggressive rebound and $1.65 is only a first target. We like QAN longer-term and therefore, trading opportunities should first be centred around stocks that are positively viewed over the medium term. Technical indicators are oversold and occurring in line with key support. This is the point of a low risk buy. Still view QAN as a highly probable takeover target.
Recommendation	Code	Price	Target	Stop	Last updated
Long Buy	STO		$13.80	$12.30	16/05/2012
Oil prices have been hit hard and could have a decent rebound with a slight shift in sentiment STO has fallen to oversold levels on two prior occasions in the past two years – Sept 2010 and August 2011. Both resulted in very sharp reversals and aggressive rebounds. This is an opportune time to step up and take advantage of the sudden share price drop at the hands of broad oil price volatility while underlying fundamentals and gas outlook locally remain unchanged. As soon as first rebound occurs stop loss will be adjusted to just under most recent low.
Bank Buy Zones
Recommendation	Code	Price	Target	Stop	Last updated
Buy	NAB	24.70 - 24.40			14/05/2012
Buy (div adjusted)	ANZ	22.20 - 21.80			14/05/2012
Buy	WBC	22.45 - 22.25			14/05/2012
Buy	CBA	51.50 - 51.30			14/05/2012
Portfolio Longs
Recommendation	Code	Price	Target	Stop	Last updated
Accumulate	AIX
Accumulate	TCL
Accumulate	SYD
Accumulate	QAN
Accumulate	VAH	< $0.41	+ $0.80		16/05/2012
Accumulate	IIN
Accumulate	GCS
Long Buy	MQG		$34.50	$26.75	16/05/2012
Long Buy	FKP		$0.65	$0.47	16/05/2012
Accumulate	Property trusts - see full report.

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If there is any advice contained in this post it is general advice only and has been prepared by Global Prime Pty Ltd ABN 74 146 086 802 AFSL 385620 or one of its related entities. Global Prime has made every effort to ensure the information provided is correct however Global Prime makes no representations nor any warranty as to whether the information is accurate, complete or up to date. To the extent permitted by law, Global Prime accepts no responsibility for any errors or misstatements, negligent or otherwise. The information provided may be based on assumptions or market conditions and may change without notice. Global Prime, its associates, officers or employees may also have interests in the financial products referred to in this post by acting in various roles. They may buy or sell the financial products as principal or agent and as such may effect transactions which are not consistent with any recommendations (if any) in this information. Global Prime or its associates may also receive fees or brokerage for acting in the above capacities. Global Prime does not guarantee the integrity of any posts or linked files. The view or opinions expressed are the author's own and may not reflect the view or opinions of Global Prime. All charts are created using Metastock or Proview software and content is sourced from tradeideas.com.

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