CALDEIRÃO DE BOLSA

Keyser Soze Escreveu:é uma trading idea activa do Saxo, cota no FTSE ... não sei o q é isso no DAX

Trade Idea (Equities): long Land Securities (LAND:xlon) from 2141, first target 2230 was reached 15-Dec and we'll go ahead and close out the balance of our position here at 2330, 20p shy of our ultimate target 2350. Booking an aggregate return of 6.5 pct. in three weeks.

Direction Instrument Portfolio
Buy Land Securities Group
Ticker: LAND:xlon None
Quote now Entry Range Previous Recommendation
2140 2120/30
6-Dec: buy order filled at 2142.
None
Target Stop (Loss) Trading Tactics
1st: 2230 (Reached on 15-Dec)
2nd: 2350
2075
11-Dec: stop moved to 2125.

15-Dec: stop moved to 2175.

20-Dec: stop moved to 2200.
Begin trailing stop upon a close above 2160.
Arguments
1 Compared to peers (Real Estate Management & Development), LAND is cheaply valued and trades at a discount to other British names such as Brixton, British Land and Slough Estates.
2 Though the outlook for British housing/property market remain uncertain, recent data shows signs of an ongoing recovery and prices are clearly on an upward trajectory. We believe this will continue well into 2007 and thus supporting the LAND and the property sector.

HBOS House Price 3mths/Year. Source: Bloomberg.

3 Technically, the stock has been trending nicely higher since mid-2005 when house prices found a bottom (see above). Over the last two weeks, LAND has retraced strongly but has found support at 2100. With yesterday's up-day, momentum is turning higher and stochastics look to emerge from its oversold state. We look for the stock to retest the 22-Nov high 2278 and then make new highs shortly after that.

Risk
This month slew of housing data will be scrutinized by the investors and any hint of softness should quickly spill over into the sector. Also, broader markets are currently correcting and a continuation of this would put pressure on property stocks as well.
Chart