OakPearl:

Your doubt has been confirmed.
And this is how I have missed out from an opportunity to grab some at N31.55.
(Perhaps my punishment for signing in late).
Anything can still happen though, who knows.

Picked some decent units at 31.85...
Lets wait and see..
Dis mkt self...

Willie2015:


Picked some decent units at 31.85...
Lets wait and see..
Dis mkt self...

Wow!
Thats some cool N1.05 profit at the minute already!!!
Congratulations bro.

yMcy56:
Okay, so gtb was marked down today but didnt fall lower. Just like dashing money to those that bought before markdown. UBA getting bashed after markdown.
Hhmmm, Oga na master.

Fall? Never! GTB is not in the same class with Zenith...Dem no be mate nah...There is a wide gap between the duo like heaven and earth..

Coolcash1:


Fall? Never! GTB is not in the same class with Zenith...Dem no be mate nah...There is a wide gap between the duo like heaven and earth..

@Coolcash Am thinking of getting transcorp at 1.13 but gtb looks tempting too.. my goal is capita appr. What do u think ?

tritritri:



@Coolcash Am thinking of getting transcorp at 1.13 but gtb looks tempting too.. my goal is capita appr. What do u think ?

I will prefer to wait and see transcorp Q1 result before taking a plunge. On GTB, my value zone is between 31and 33...

DD strongly advised...

EKUUU Bear Mkt o

currentprice:
EKUUU Bear Mkt o

The bear the sweet meooo

Looking for more cutlasses

heyteaherm:
Currently writing my MBA thesis on devaluation and how it affects the economy and will like to share my thoughts on the argument why Devaluation if adequately managed is actually good for the economy in the long run.

To understand the underlying situation of Nigeria, keeping it simple and first, you must follow the genesis of the problem as below

...

If the exchange was free floating the market forces will determine the rate. Devaluation /currency manipulation works for example in a country like China, where export is high, devaluing the currency will make the value of the exporting goods more attractive and thereby increasing sales and having a positively skewed BOP.
Yes, devaluation for a country like Nigeria with the monocultural economy, the masses will suffer in that the cost of petroleum might increase, which in itself causes inflation as the price of transportation, generating electricity, etc. will increase, this can cripple the economy if not properly managed.
My advice is to devalue the currency, we are financially redundant if we don't, not devaluing is just moving the financial collapse date. Asides from borrowing we need foreign individuals and institution to pump in their forex into our economy. These set of people study the market before getting in, they will make sure the prospect of the economy is at least guaranteed stability for say 5 years, because their investments could have a minimum payback period of 3 -5 years also people want to set up shop where they can stay for many years.

...

keeping it simple.

Ekene Obi
Guru Capital LTD

Nice one. You highlighted several reasons the Naira should not be devalued further. Only some considerations... how would the devaluation affect looters..? How would it affect govt office holders..? How would it affect CEOs that trade in forex...? Lest I forget, how would it affect those that open a savings account for Nigeria at the basement of their house..?

Nigeria economy cannot be written in simple arithmetic, other countries can. The variables associated with the Nigerian economy is unending...

Yayira:



Mpeace you’ve got to try this!!! Lol
I just sold 50 units
The share name is still diamond but go to premium board click Access and sell your diamond shares
You’ll have to do the converting yourself..

I knew the N1 go get K leg as e don involve bank


THANKS Edward

You are welcome.

What is happening to Uniondac?

ukay2:



The bear the sweet meooo

Looking for more cutlasses

beer de sweet u e kwa? To me bear no sweet

81m units of Transcorp on offer at N1.12.

Hmm.

How una dey for here
Just passing

tritritri:



@Coolcash Am thinking of getting transcorp at 1.13 but gtb looks tempting too.. my goal is capita appr. What do u think ?

GTB anytime.
Cant get any worse than N30 or so.
Am sure they are trying to force it back to around N34.

NEXT LEVEL has not even started and the economy is already slipping...4+4

This forum go soon enter ghost mode. After I take fidelity dividend na to enter house...the rain coming - oh Lord

ukay2:



The bear the sweet meooo

Looking for more cutlasses

When the cutlass is too sharp it could overslice the bear and hit you o.

Gtb eventually closed at 34. 1daful!

Deadlytruth:

When the cutlass is too sharp it could overslice the bear and hit you o.

Make it hit meoo

Kevostica:
Gtb eventually closed at 34. 1daful!

i hope is not IGG cos zenith also traded at 23 trading hours after marking down but it may not go down more than 30-33

aremso:


i hope is not IGG cos zenith also traded at 23 trading hours after marking down but it may not go down more than 30-33

Mr zenith,which junction are you waiting for our zenith this time?is like the fall will go on ooo.

DOLLARTEX:
Mr zenith,which junction are you waiting for our zenith this time?is like the fall will go on ooo.

am not a bonanza preacher ooo but whenever my inner mind tells me to pull the trigger i will comply and that could be my own junction!

aremso:


am not a bonanza preacher ooo but whenever my inner mind tells me to pull the trigger i will comply and that could be my own junction!

lol,can I borrow your inner mind?

Awesome... momentum seems to be building.

I have started asking the Egyptians for their jewelries. I need to melt and throw all into the market before next week ends...

I have been waiting for this period for a long time... I want uncle Tony to know that Transcorp is for all of us.

DOLLARTEX:
lol,can I borrow your inner mind?

Why not borrow locodemy or peterichy inner mind ?

Abi u dey fear to go church ?

ukay2:


Make it hit meoo

You want to add to the blood already on the floor of NSE?

ndidigood:
beer de sweet u e kwa? To me bear no sweet

That pic got me laughing.
No mind the oga, you for don give am RKO join.

heyteaherm:
Currently writing my MBA thesis on devaluation and how it affects the economy and will like to share my thoughts on the argument why Devaluation if adequately managed is actually good for the economy in the long run.

To understand the underlying situation of Nigeria, keeping it simple and first, you must follow the genesis of the problem as below

1. Debt - Nigeria currently isn't servicing its debts, it means we are not generating as much as we spend to pay for monies that we borrow to make these expenses. We burn more cash than we can settle our debts, we are not yielding profits, not making use of our revenue channels healthily

2. The balance of Payment - We Import more than we export, meaning we transfer more money abroad than we receive into the country, so the BOP is negatively skewed against our economy

3. Exchange rate - Our rates are currently tightly controlled by the CBN. Kept at a steady rate of $360 by supporting the demand with Naira injection and reducing demand for forex by banning some imports from reducing demand and at the same time protect local industries.

4. GDP - The total sum value produced is dependent on the price of oil, which has been steadily below $100


Let's leave it at this even though we might want to go deeper with infrastructure problems, trust /corruption and the rest.

Because the exchange rate is tightly monitored and controlled there are always calls to devalue the currency when the economy is not doing well to promote capital influx inflow, increase export demands, prop up FDI, FPI, and SPVs. Just like the naira doesn't portray it's a real value at the moment so there is capital flight because you wouldn't want to buy something so expensive today only to be sold at a meager price tomorrow. If the exchange was free floating the market forces will determine the rate. Devaluation /currency manipulation works for example in a country like China, where export is high, devaluing the currency will make the value of the exporting goods more attractive and thereby increasing sales and having a positively skewed BOP.
Yes, devaluation for a country like Nigeria with the monocultural economy, the masses will suffer in that the cost of petroleum might increase, which in itself causes inflation as the price of transportation, generating electricity, etc. will increase, this can cripple the economy if not properly managed.
My advice is to devalue the currency, we are financially redundant if we don't, not devaluing is just moving the financial collapse date. Asides from borrowing we need foreign individuals and institution to pump in their forex into our economy. These set of people study the market before getting in, they will make sure the prospect of the economy is at least guaranteed stability for say 5 years, because their investments could have a minimum payback period of 3 -5 years also people want to set up shop where they can stay for many years.

So many issues about devaluation. Nigeria has to be productive before it can be interesting, yet we need the influx of forex into our system. It is a problem of the chick and the egg which comes first. For me, it is devaluation or better still free float, then cleaning up shop and making Nigeria's ease of doing business excellent. Devaluing will encourage exports and promote locally produced goods with the right infrastructures such as electricity, motorable roads or other transport systems. The govt needs to fix a goal or realistic target to fix infrastructures and also clean up its act or fixating figures, the world is watching. Nigeria has resources, we can maintain a standard but the complexity of being a renowned economy we must attract more forex and be more valuable asides our natural resources.

keeping it simple.

Ekene Obi
Guru Capital LTD

They made similar arguments 3-4 years ago, Nigeria needs to devalue its currency to attract FDI. We need to devalue to make export cheaper. Loads of bull...What happened to the FDI after we devalue our currency? What kind of FDI did we attract, portfolio or brick and mortar investments? What happened to the FDI after these investors made their returns? Has our cheaper currency helped us to export more industrial goods?

Let's not kid ourselves, devaluation of naira at this point is not in the best interest of our economy. It will create high inflation, high interest rate, loss of manufacturing abilities, loss of jobs and other problems.

To the proponents of currency devaluation, what's the objective this time? To attract short term portfolio, long term portfolio, brick & mortar investments? Devalued naira will only attract short term portfolio investment, which is detrimental to our economy. We're all living witness to the economic effect, cycle and runaround based on what happened to our stock market in the past 4 years.

Our objective should be how to attract long term portfolio, brick and mortar investments. The best way to do this right now is to address factors that lowers cost of doing business in Nigeria. Power, transportation, ease of doing business policies, security, currency stability and others. Our conversation should revolve around these subjects and not currency devaluation. By fixing these problems, we fix our economic problems and others at the same time.

Agbalowomeri:
How una dey for here Just passing

Agba I saw 29162.24 NSE indice I fear.
Dont just pass, abeg tell us if we're getting close to reversal or the wave we are now, since all our chart ogas dey on sabbatical.

courage89:


They made similar arguments 3-4 years ago, Nigeria needs to devalue its currency to attract FDI. We need to devalue to make export cheaper. Loads of bull...What happened to the FDI after we devalue our currency? What kind of FDI did we attract, portfolio or brick and mortar investments? What happened to the FDI after these investors made their returns? Has our cheaper currency helped us to export more industrial goods?

Let's not kid ourselves, devaluation of naira at this point is not in the best interest of our economy. It will create high inflation, high interest rate, loss of manufacturing abilities, loss of jobs and other problems.

To the proponents of currency devaluation, what's the objective this time? To attract short term portfolio, long term portfolio, brick & mortar investments? Devalued naira will only attract short term portfolio investment, which is detrimental to our economy. We're all living witness to the economic effect, cycle and runaround based on what happened to our stock market in the past 4 years.

Our objective should be how to attract long term portfolio, brick and mortar investments. The best way to do this right now is to address factors that lowers cost of doing business in Nigeria. Power, transportation, ease of doing business policies, security, currency stability and others. Our conversation should revolve around these subjects and not currency devaluation. By fixing these problems, we fix our economic problems and others at the same time.

Thanks for this. That's why earning a salary only is like a curse. Imagine if a company does not revalue salaries while the naira is being devalued...

yMcy56:

Agba I saw 29162.24 NSE indice I fear.
Dont just pass, abeg tell us if we're getting close to reversal or the wave we are now, since all our chart ogas dey on sabbatical.

E tire me o!!!!!

Please who knows how FX-user can be contacted... I am done with fundamentals, I want to know entry trigger points......

chai see me in limbo

Abeg as my kaya for NSE don reduce,please l need a job urgently to support my family
Below is my CV.
Mydarling myc56, l trust u WL help as awz.and kind hearted here

maishai:
E tire me o!!!!!
Please who knows how FX-user can be contacted... I am done with fundamentals, I want to know entry trigger points......
chai see me in limbo

Even bullbearmrk too. Abeg come back make Una no vex.
People will be trying to help some will be insulting as if they are paying them for the service.