I am totally frustrated, I gave my broker an order to sell union homes when it closed at 9.63 at 9.45, he did not sell cause he said he used his discretion and the market was still bouyant. Now union homes has gone done. For two days now has has not sold my first bank despite agreeing to sell as lowest of the day. This broker is just too slow for CICO and so I am thinking of moving my account to my friend in cash craft. Can someone please let me know how long it would take to move my account. This is decent money and I am just not happy at all.

@ WANAJO

Please i just bought the IAA, my e-mail is pepper60@yahoo.ca,i'll appreciate it if u can send me a mail, tnx bro.

pumping thanks ,  you one on the top guys i respect in this forum, with u i can not go wrong,

beginner:

I am totally frustrated, I gave my broker an order to sell union homes when it closed at 9.63 at 9.45, he did not sell cause he said he used his discretion and the market was still bouyant. Now union homes has gone done. For two days now has has not sold my first bank despite agreeing to sell as lowest of the day. This broker is just too slow for CICO and so I am thinking of moving my account to my friend in cash craft. Can someone please let me know how long it would take to move my account. This is decent money and I am just not happy at all.

That just buttresses my point!
80% of these stock brokers know NOTHING!

beginner:

I am totally frustrated, I gave my broker an order to sell union homes when it closed at 9.63 at 9.45, he did not sell cause he said he used his discretion and the market was still bouyant. Now union homes has gone done. For two days now has has not sold my first bank despite agreeing to sell as lowest of the day. This broker is just too slow for CICO and so I am thinking of moving my account to my friend in cash craft. Can someone please let me know how long it would take to move my account. This is decent money and I am just not happy at all.

Well when you understand that you are at the 'mercy' of your broker, you will appreciate the risk associated with CICO better.

pumping777:

As na full CICO you dey, make you wait to see todays price list before you start to dey decide. Some new doors fit go open today.

Pumping, na wa for you OOO. na everyday man go dey wait be that because prices are new everyday

pepper!!!:

@ WANAJO

Please i just bought the IAA, my e-mail is pepper60@yahoo.ca,i'll appreciate it if u can send me a mail, tnx bro.

Where you BUY am from No money back guarantee OOOO. Caveat emptor.

Me no dey send mail on IAA. I no even know their office self.

wanaj0:


Pumping, na wa for you OOO. na everyday man go dey wait be that because prices are new everyday

No major xteristic of FULL CICO be that o. No need to dey do CICO for stock based on yesterday's closing price. 5% can make the different between breaking even and making profit. Na real dynamic business model 

If Platinum drop today, na door wey bin crack yesterday, open today so.

beginner:

I am totally frustrated, I gave my broker an order to sell union homes when it closed at 9.63 at 9.45, he did not sell cause he said he used his discretion and the market was still bouyant. Now union homes has gone done. For two days now has has not sold my first bank despite agreeing to sell as lowest of the day. This broker is just too slow for CICO and so I am thinking of moving my account to my friend in cash craft. Can someone please let me know how long it would take to move my account. This is decent money and I am just not happy at all.

i don't think you can move your moni 4m one broker 2 another. You may need 2 open the account in Cashcraft or anyother broker, sell off the stock u hav with the current broker, take out ur cash and re-invest with the new broker. you will need to manage ur broker and ensure that u dont sell at a loss. with furthe advise 4m d gurus u may still be able to make profit on another bull run.

rgds

pumping777:

No major xteristic of FULL CICO be that o. No need to dey do CICO for stock based on yesterday's closing price. 5% can make the different between breaking even and making profit. Na real dynamic business model 

If Platinum drop today, na door wey bin crack yesterday, open today so.

Pumping, question for u as a full CICO master. Do u latch onto a stock when the price is rising or dropping? Why i ask this is to verify if i have just been riding on luck for the past few weeks with Japaul, C & I (i neva still sell am o!) and CAPOIL. Just a pointer for future CICO moves.

Belewu:


Pumping, question for u as a full CICO master. Do u latch onto a stock when the price is rising or dropping? Why i ask this is to verify if i have just been riding on luck for the past few weeks with Japaul, C & I (i never still sell am o!) and CAPOIL. Just a pointer for future CICO moves.

Who dash me a chieftaincy title reserved for Fof2? I no wan hear mutiny o 

I like that word "latch". I no dey buy stock wey dey rise normally and hardly sell one that is falling. I dey try latch onto a stock when buying a stock that is falling in price by setting a bid price lower than todays closing price. The success rate is just average though. For instance, I tried latching onto Platinum today at N27 but it never fell to that price so I know I did not get  ??

pumping777:

@ty_ademolu - I feel your pain. Pele. Sorry.

I suppose whatever you do cannot rectify the current situation. You ultimate plan will be to get another broker of course.

I have to say though that someone already told us about a broker firm in which only the MD goes to the floor and if the MD is not around your orders stays put.

Come to think of it, some folks will not know if they could be in the same situation because folks usually deal with marketers and have no idea who goes to the floor.

If you could be in this situation, this is the time to find out before you experience something similar.

That was BTW. I think you should patiently wait for the next bull runs for this stocks and sell at that point. This one don happen already. From there, you can move on to another broker. Good luck.

thats if the oga will not be attending one naming ceremony or one obituary in the village then  
what if the man becomes sick?
i think you have to strategically transfer your shares to another firm.starting with lasaco that you've already made your gain on.

pumping777:

@ty_ademolu - I feel your pain. Pele. Sorry.

I suppose whatever you do cannot rectify the current situation. You ultimate plan will be to get another broker of course.

I have to say though that someone already told us about a broker firm in which only the MD goes to the floor and if the MD is not around your orders stays put.

Come to think of it, some folks will not know if they could be in the same situation because folks usually deal with marketers and have no idea who goes to the floor.

If you could be in this situation, this is the time to find out before you experience something similar.

That was BTW. I think you should patiently wait for the next bull runs for this stocks and sell at that point. This one don happen already. From there, you can move on to another broker. Good luck.

Pumping777, you gave a very wise advise.  As I am talking I am gradually selling off my stocks with one yeye broker.  I no trust them kobo.

The era will soon go when just because an MD of a broking firm has a little quarrel with his wife, then all mandates will stop and not be executed.

SELL OFF AND MOVE.   With my experience, it is easier for me to recommend a girl to a man for marriage than to recommend a broker

Sorry to bother you guys.Just wanted to inform u that the little Transcorp i have has risen back to my purchase price after almost counting it as a sunk cost.I know my brother whom am sure will read this will be happy cos he is heavily involved.


Now,is this for real.Almost 100% in less than 3 weeks.


Sorry once again for bothering you guys.Am so sorry.

Todays's interim prices.

http://www.trw-stockbrokers.com/services.aspx

loma:

Todays's interim prices.

http://www.trw-stockbrokers.com/services.aspx

Subject to change?

whats happening to nigeriansecuritiesafraid don catch me o!!my portfolio na -99%something has 2 be wrong somewhere??

LondonCool:

@Aktopgun,

Nice dialectics on Candlesticks, but don't forget to credit your source of information which undoubtedly is lifted from stockcharts.com (I had a clash with Seun over this issue last year).

thanks for the heads up. if u go back a few pages u will see i clearly posted it there that i get the tutorials from mostly stockcharts. there are other sources but i find they are the clearest and easiest to post on here.

@marco74 - U need to get down on ur knees for cover.  Could be an airforce attack!!!

[s][/s]

marco74:

whats happening to nigeriansecuritiesafraid don catch me o!!my portfolio na -99%something has 2 be wrong somewhere??

You see am? I hope someone is not tinkering with the site. We go vex hammer d person o.

Have you all seen the disaster on Nigeriansecurities' site?

@Napolean, if you are big , you are big.

@myself, if you are small, you can be big!

trans expres has been flying. i hope oga napolean has nohing to do with that.  all the nominal stocks have gone through the roof.
@ pumping, if u were me would u enter trans express at this price or go for more UBA. ?
im confused cos i believe UBA can do 25-30% by the time the half year will be out

shigidi:

trans expres has been flying. i hope oga napolean has nohing to do with that. all the nominal stocks have gone through the roof.
@ pumping, if u were me would u enter trans express at this price or go for more UBA. ?
im confused because i believe UBA can do 25-30% by the time the half year will be out

I placed a buy order today and I'll be delighted if I got even at the high price of the day.

I believe in Transexpr more than UBA and like you said the half year fit turn am into another Beta Glass. I no wan hear o.

NASCON appears to be slowing down, time to bow out?

@NAPOLEAN - NOW I AM KIND OF PEEVED OFF

I PROBABLY NEED TO CHANGE ALL MY SIGNATURE HERE BEFORE SOME GONZUKI DECIDES TO STEAL MY ID.

BETTER STILL I MAY TAKE ONE LEG TOUCH MURTALA

@ NAPOLEON

From your elaborate write up.

It is pretty clear that you do not trade, otherwise you are a BIG long term investor who has no business with cscs.

I am VERY young and want to be like you.

Abeg you get biography, make I dey follow am step by step.

From my point of view are you sayin that the people who actually make waves on all this stocks dont do it the traditional NSE/CSCS way?

If so, how exactly we go reach that level? seems its still the broker/registrar that can make/marr you here

***@napolean**** Na 7 stars I take style give you so o.

Chei!!! You too get yarns o and I bin think say I sabi wetin dey happen for NSE.

Make your pikin leave embarassment for side o. We no dey embarassed at all at all  

Make you gyrate here with us jo. We no go disturb am for Facebook

I thoroughly enjoyed your right-up. It was interesting that you highlighted this mechanism of raising as stock price artificially which I kind of guessed.

Place a buy order on the floor that cannot be met without a cap and let the stock move up 5% every day.

Also this craze about foreign investors moving the NSE. I had other ideas when I realized the capitalization of McDonalds is about the same as the entire NSE. All these foreign fund managers need a bigger market than the NSE.

Well done patapata. Another dimension to this forum for all to enjoy.

I no trust this place again oh.

I SERIOUSLY SUSPECT THERE IS A DOUBLE PERSONALITY AMONG US.

@Nairalanders

Don't get blown away completely by what Napolean is saying - kind and truthful they may be.

Private placements are good but do bear in mind that they are not as well scrutinised by the authorities as IPOs so the risks are that much higher.

Some of us are aware of how long since IGI started their PP - 2006 - they have promised to list this year. Some don't intend to list and don't promise to do so you will have the problem of liquidity.

Also there are now monies being returned regularly.

If you have a strong contact in the issuing house or the company doing the placement it can be a "sure banker". You must have money to tie down for many months or years.

Having read the latest write up, he does seem very sympathetic and here to help but bear in mind my points.

Re: Japaul.Any info on the additional rights allotment?
Samstone4

Napolean:

@ All

I must confess I am not one of those creating any scarcity on the floor. Look in the direction of your brokers who lie to you.

The truth is I very rarely buy or sell on the floor (2007 I dumped some union when it reached N49, I bought at N17 and knew it was a boring stock ) but apart from that I have not sold on the floor for about 4 years. With humility I am an investor. I am considerably older than most you folks posting here, to the extent my daughter (24) told me my being here is embarrassing her.

A few quick things, I thought I should mention. If you remember about two weeks ago a substantial shareholder in Big treat mentioned he would not sell his units until the price reached N20. It did. Then since then whats been happening?

As a seller(holding volume) it is quite easy on the NSE to determine the price a stock will reach, because you will cooperate with you broker, and put in a purchase order for a huge volume of units (maybe all that has been listed!) at the price you choose, knowing it is not available for sale and the herd will assist you in bidding for it. (you have no intention of buying, when your ready you will cancel order).Then ofcourse you have the option of steadliy increasing the crumbs you offer, or you dump a percentage your willing to let go and move on. If you really think that many folks who work hard for the money are bidding for huge volumes of jos breweries, international breweries or juli then you are joking. Union bank bought into juli quite well last year. How did analyts know the tru value of dangote sugars was about N36 but would become available at N50+ after listing. Or how do people know dangote flour will be available over N27?

I look through the accounts and speak to the equitable owners of companies to the find the nitty gritty of deals, sometimes they are close firends sometimes not. I don't have enough knowledge or dicipline to go through all the technical indicators that most people refer to. If I were young, vibrant and with plenty of time I would. My way of investing, is investing with people I know well and our integrity is on the line. I invest in a way that if the entry price is right (and it usually is) then the exit point takes care of itself.

With all the analysis in the world, congratulations but I can safely say it would be easier for a nonsense stock like unity bank to get from N9 to N18 than for a heavy weight like union/nestle to double with a short period.

Those of us the bought transcorp at N1 did NOT mind when it dropped to N2.8, I must be honest that I do not have much confidence in the stock because there is too much dance in the boardroom. But some friends who love a flutter bought more at N2.8 which they will dump at around N5 and hold the N1 stocks long term.

I feel I have a moral duty to advise you folks to be CAREFUL when completing your public offer forms. Yes i know it sounds very patronising. But I was shocked when I saw a well respected lawyer recently fill out a form where he told them his name,address,d.o.b,next of kin,bank details, signature. NA INVITATION FOR ID THEFT BE THAT.


You should have your "nigerian" signature, which a local bank can verify (with your green passport) which is different to your (blue/red) signature. Abi you want a crook to try and sell your house in the US for you? it happens. Don't allow yourself to fall prey. If he tries to use your apparent signature your US/UK/Swiss banker go tell him where to go then call you. Mr/Mrs, " I rather perplexed, and thought you should know somebody has gotten hold of your information and tried to, ", however "we obviously knew it was an imposter",

Also always do private banking, if your funds are't yet up to the requirement pay the monthly charges. They will bootlick you, and when you want to shift out your loot you pay much less in charges. If you are a very god customer its free, otherwise your ready to take your money to more deserving bankers. I digress to say, your oyingbo bankers must pronounce your name they way it is. I will never allow them to remove the meaning of my name nomatter the difficulty they may have. Abi you think they miss pronounce china man or russian mans name?


Those of you abroad are skeptikal about telling someone your bank accnt no and sort code even though one would normally have to be an insider to access/manipulate your account. So why do you feel comfortable opening your life to a member of staff in your stockbrokers which handle such forms and send to the issuing house(who if also has you passport picture, and can quite easily become you!) Afterall most junior members of stockbroking firms/issuing houses are on N50-75k (if that) per month. So its only God that will make them think twice and say no.

Having said the above, when you read the so called allotment schedule and you see that "4 people" individuals or entities applied for 999999999+ units of first bank/dangote flour do you believe it? You think a rich person go put his name on a form? or do you honestly think that na market woman and mechanic scatter the offer? most semi literates will scream if you tell them that na N33 you go take buy one share.

Nigeria has roughly 130m residents. How many % are above 18? what is the percentage of "gainful" employment? what is the poverty level/ How many can afford to buy newspapers or have bank accounts. Then you want to tell me that 1 million nigerians applied for first bank units? Did you broker not fly to the USA and London to beg people to buy? a beg leave story.

Now to the folk that have been stingy and you complain that your broker is not performing.
Did you give him the thing wey spoil nigeria? or do you think it is the 1% commission you dey dash am that he go rent him office, pay him staff, drive jeep and sleep for lekki/ajah? all with your 1% abi?

lets make it tiny. You want to sell N5m stock daily and probably your profit inside is 50% and you want to dash him N50k commission because he is a mugun and he doesn't want his pikin to read MBA at london business school for £49k (excluding living expenses).

That is why when you tell him that Mr man, I have read up on company xyz, they are turning around. (hint GCAPPA na good stock o!, na widow and naija gvmnt dey struggle but betta contract them still dey handle!let me not digress). This xyz is dormant at 80k and I want to pick up 5 million units to speculate with. He will tell you, lets be looking. You will look untill it moves and comes available at N12. 1% of 5mill * 80k no go fit send him wifey go target,fillenes,primark or oxfam shop. Hope you grab. You will therefore have 2 options.

(1) Go and meet the directors/registrar. But go to the directors first because the regisrar go chop him own inside. Or think its with N350k monthly salary he take live lekki phase 1? I don't have to go beyond this.

If it knocks

(2) Tell Mr Broker, o boy, na N1M I go give you, make you buy the pikin some ice cream. If you fit "arrange" 5m units for me. You pay when he gets it (if by that stage he agrees to even cross to you. Why should he? would you??) Would you rather avarage up your purchase price and get 5m units at N1 per share rather that fustrate yourself till it reaches N12 and only mugun go wan buy. Again your choice.

I will never comment on short term trading. I believe in taking profit if need be. But cast your mind back to 2004 when intercontinental did its N6 IPO. If you remember its unique selling point was that if you had bought N100k work of units in 199? and just held, your compounded returns (divs and splits) would be worth Nmm? That is how I invest. I am not young and because I know the sharp practises my risk appetite for NSE has decreased. To me buying 50m units of a recapitalised insurance firm at 70k p/share is not my definition of risk. but 250m units of transcorp at N1 at my age IS. If i wanted to CICO or whatever, I would simply call a good hedge fund in victoria, london or new york that is aggressively trading forex and feel more comfortable with that. I may sound patronising (do not mean to be) but buying 5m units of leventis on the floor on monday (if you go find) and selling on thursday is a waste of time for me. That is why I say I am not one of those making the floor scarce. Tell your broker to stop holding you to ransome.

If you read the reports and believe that it is FI that is drving the NSE I want proof. Even the wild hedge funds that may speculate here place in banks where you can buy volume, this is done "off plan" through placement not thorugh the NSE and not through the broker who has never been to the international wing in murtula mhd and is sweating it out somewhere on broad street. Any decent international pension fund, fund etc will only speculate a small % (so if it gets wiped out, no big deal) in Naija. I am sorry to say, Nigeria is Not emerging. India, Brazil etc are. Nigeria is slowly developing.

Please read articles by Bismark Rewane. He knows his onions.

Let me make it clear. Apart from subprime cowbows. Can you walk into Citibank, Bank of America or Barclays, Natwest and say: Mr/Mrs Man I am more or less skint, have no real collateral but apart from seeking a mortgage, I want you to leand me the deposit for it? In nigeria its possible. You can go to one bank now and collect their no wahala loan then go to their subsidiary and get a mortgage. You may say, no big deal because its a win-win situation for them.That is not their job or core competency. Thats why in the US/UK they are realtors that sell repossesed property. But in Naija, the banks sell off there repossed property (usually to themselves) and all the repayments you have been making to them were in vain. And its not like in the UK where you would have defaulted for about a year before they fianally repossess in naija it can be months (with public humiliation thrown in).

When your investing abroad the broshure normally tells you past performance is not an indication of future returns, prices can go up or down so don't invest what you cannot afford to lose. In Naija they will give you loan at 21% with management fee, ready to repossess your shares purchased, repayments and collatoral and possibly still send you a shortfall notice. And if you think they will sell of your collateral to recover the debt your joking, that na jara. The shares you take buy with loan (where they bought?) no be nominee name they take buy am for you.

I want to throw open a question. For those the read the Transcorp IPO document where you not surprised when you saw the shareholding or a particular director that used to be a PA? if you say na loan he take buy am fine. What was the loan to value based on his earnings that the bank gave him. When you look at bank prospectuses and you see an young guy that because MD 2 years ago and he is a salaried man, and he owns tens of millions of units in the bank don't you wonder. If he is not divesting how is he repaying such loans? Meanwhile una dey buy into the bank. I will leave this aspect for another day.

Even with the so called N1bn capitalisation, many investors who trade through stockbrokers have more than that. That is why some of us either have a caution on our accounts at the CSCs or better still keep our certs in a safety deposit facility offshore. If you think that Otumba has his conoil holding with cscs na joke. It will get to a stage that if you want to drop 100'm's worth of units you will not do it on the floor. There is nothing illegal about having a legal agreement through your lawyerws and selling your units to a preferred individual. You have the right. Then you go to the registrar to perfect this. Thats why many deals are done "off plan" or if na betta broker "in house". It gets to a stage whereby the 2.3% NSE,CSCS,broker want collect you say na lie. That na yearly salary of a better earner. Lets go meet registrar, oya lawyer dey come too. Otherwise if na in house you tell Mr broker, ol boy na N500k i go dash you. He is tries to talk you go elsewhere with your certificate. He will agree because as he is growing he is not happy paying plenty tax himself. (i avoid-not evade). Also off plan you agree the price you want to sell. A volume buyer will be happy to pay a premuim get his units in one go and wave two fingers to the NSE,CSCS etc.

As one grows you either open your own or take your money to a friend who is a chairman of a brokering house. It is sweet nobody wants to open account with them, they have a no website (or permenatly under construction) nobody mentions them, most times their booth on the floor is un-manned, or the trader doesn't do much transactions becuase his clients don't really sell. His mates on the floor pity him. His oga is busy dealing "off plan".The 1bn capitalisation not enough to buy a betta house in chelsea, so when more of the oyingbo money comes in they will open boutique firms to service thesleves. They do not trust the Naija guy. I'm not saying that they are saints (na high level 419) them be but they no go rip you off what they consider peanuts. Till this time arises hope and pray and regularly check una CSCS statement. Those of you with substantial holding (2m units and above stocks worth N30 p/share and greater) (50m units and above stocks worth N5p/share or greater) do yourselves a favour and get CSCS to put a caution on your account. Have your certificates where you are.  Try not to let your broker think you are abroad, if he knows you are - you are on a brief holliday, back in a few days. If he is performing for you, buy him a TM Lewin shirt. I always roam my line when I am away and say I am always "in abj" but na botouqie firm I dey use and as I mentioned above I don't trade and my certificates are offshore.


The reality is polititians (for now) don't want to make a conservative 20% that Europe can offer. Also they are not gunnig for leventis or capital oil (at least not on the floor). Even the portfolio "stabilizers" like nestle are hard to get in good number, so on the floor they look for banks and insurance companies chikena. No capital gains tax is the major pulling factor to Naija. So those are are complaining because of scarcity, tell Mr Man to perform. I hope this helps.



I believe this forum is interactive. I would like your response and criticisms in order to edify each other.

Point i get from this is, Do any the analysis you want: fundamentals, technicals or whatever you want to call it, we are  just pawns in this game ruled by the 'big men' in this country. Is there any where corruption will not eat into? Why can't we ever make money without fraudulent means in this country?

Napoleon, thanks for the expo!!!

Where do I start from?

Transcorp, many shady deals where done with the shares during the PP. Most of the guys did not pay for the holding. N.O is one of them. That's why I lost faith in them.

Reality is the kind of game you play and you talk about, you must have DEEP pockets. You need to see how the Econet deals were struck to appreciate this.

Yes at your age, you can't do CICO. Preservation of capital is the key word for you. For those in their 20's, they can afford to take more risk. So I can undesrtand with them.

Yes we have FI's coming into the country. Most often the deals are done by placement. It is the politicians with stolen money and the PFA/Insurance companies that are fuelling the current distortions on the NSE!!! Imagine stocks rising after lifting from TS due to an offer??

When we are BIG enough, we will have our own brokerage house doing our trading for us.