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THE TIPSTER AVOID THE DASH FOR TRASH

AN economic recovery still remains uncertain so avoid the &ldquo;dash for trash&rdquo; and look for stocks that have intrinsic value. The banks have been having a tough time but one that&rsquo;s stood out is <strong>Standard Chartered</strong>, which has been making a series of senior appointments to its capital markets team in recent months. The bank&rsquo;s share price has risen from a low of 572.50p in March to a high of 1,293p but plenty of traders believe more is to come. Spreadex has a December-based contract with a spread of 1,218.7-1,229.5p.<br /><br />Another stock that&rsquo;s doing well is <strong>Dana Petroleum</strong>. Its share price has been on the mend since November last year and the advance was not hindered earlier in 2009 by February&rsquo;s sell off in equities. Capital Spreads is quoting 1,219.4-1,225.6p for the rolling contract.<br /><br />The world&rsquo;s third largest grocery retailer <strong>Tesco</strong> has been under pressure from the discount retailers like Aldi and Lidl, but it seems to have held its ground well, with its share of the grocery market still over 30 per cent. IG Index is quoting 366.1-367.0p<br /><br />But rival <strong>Morrison</strong> was ranked ahead of its peers in terms of growth in grocery sales by TNS and the retailer comes out with an interim statement at the end of the week. CMC Markets is currently offering a spread of 246.75-247.25p.<br /><br />The homebuilders have been hit harder than most but some are betting that the tide is beginning to turn. <strong>Taylor Wimpey</strong> &ndash; whose share price fell from a high of 196.25p at the start of April 2008 to 20.5p a year later &ndash; is one stock attracting buyers who believe they are still seeing a bargain at last week's sub-30p price. Spreadex has a September-based contract with a spread of 29.31p-29.86p.<br /><br />In the currency markets, traders will want access to cheap funds to gear up and invest in high yielding assets. Look to sell the Japanese yen against the New Zealand dollar. The yen has already had big moves and while other countries are facing potential downgrades, New Zealand has just been upgraded. To benefit from this, look to buy <strong>New Zealand dollar-Japanese yen</strong> on dips (below &yen;60.00) and aim for a target of levels back above &yen;70.00.