Here are some of Itau’s Marcos Severine recent trading ideas (although only valid for stocks traded at BMF/Bovespa, not ADRs):
“What We Like in the Short Term: CPFE3 and CMIG4. The best names combining defensiveness and optionality.

Not Appealing in the Short Term: LIGT3 and CPLE6. Unjustifiably strong performance by Light and no short-term catalysts for Copel.

Long & Short

Long CMIG4 & Short LIGT3. Light is unlikely to sustain the recent strong performance; while Cemig is likely to benefit from the news flow on the EDP privatization, as we do not expect the company to win the bid.

Long ENBR3 & Short ELET6. The conclusion of the EDP privatization is expected to generate positive momentum for ENBR3 (even if Eletrobras wins) and negative momentum for Eletrobras (only if it wins).”

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