aktopgun:

interesting. but u see, its not always a good idea to draw trendlines that touch the price when they(the prices that touch the trendline) are too close together.

u be winch sha because i was doing the same thing on the NEM last night but had to draw 3 trendlines to get acceptable touches on the line. that resistance is a worry in this season but short term CICO (ie ultra-short CICO)may have to be the adopted strategy.

if u draw a trendline from a more recent price bottom then the convergence becomes more obvious

aktopgun:

omo savvy, u too much.

nice pictorial as well. where did u get this picture abeg, make i check it out. the trendline bounce is yet another confirmation. thanks

wanaj0:

@Savvy, you still dey regret selling your UBN? Why now?

aktopgun:

@fof2

good morning sir, happy easter, i hope u have seen my campaign to have u back here full time, is this to say u are back with us fully? please say yes!  

aktopgun:

@mecatcha

dunlop. As u know caveats apply  

FatherOF2:

Goodmorning sir, Happy Easter to you too.

Reading is sweeter.

eniyanman:

absolutely! one indicator alone doesn't tell the full story. recall, i mentioned the chaikin money flow (CMF) gradient some time ago.When I refer to Chaikin, I mean CMF and its gradient. I use gradient to confirm the CMF.

bibiking1:

can any one refer me to a good stockbroker in Warri?
I have not been able to get myself active all these while, but i hope to resume in the coming week

my email address is sylvester.awenlimobor at ebuynigeria dot com

thanks

I have noticed that the some of you are waiting for the bulls! from my little overall market analysis, i think the market will remain bearish up till the middle of the yearat the least.
The market currently sits in an insanely overbought region and the drop is expected to continue for a while

bibiking1:

can any one refer me to a good stockbroker in Warri?
I have not been able to get myself active all these while, but i hope to resume in the coming week

my email address is sylvester.awenlimobor at ebuynigeria dot com

thanks

I have noticed that the some of you are waiting for the bulls! from my little overall market analysis, i think the market will remain bearish up till the middle of the yearat the least.
The market currently sits in an insanely overbought region and the drop is expected to continue for a while

eniyanman:

absolutely! one indicator alone doesn't tell the full story. recall, i mentioned the chaikin money flow (CMF) gradient some time ago.When I refer to Chaikin, I mean CMF and its gradient. I use gradient to confirm the CMF.

On the surface macd and rsi don't appear to look at the money flow. But implicitly they do. You would agree that when money flows into a stock, it price rises and vice-versa. RSI and MACD focus on the price rises/falls and thus follow the money.

The other problem with MACD and RSI vis-a-viz NSE is the +/-5% daly cap. It distorts the over-all picture. This introduces non-linearity. In other economies where this cap doesn't exist, the MACD and RSI can be used as a pair in helping to decide market entry/exit.

E be like say I don talk too much 
Happy investing

kayodus:

NSE denies knowledge of Afroil, Capital Oil suspension
By Obinna Chima
Published: Friday, 21 Mar 2008

The Nigerian Stock Exchange has said it is not aware of the indefinite suspension placed on trading in the shares of Afroil Plc and Capital Oil Plc by the Securities and Exchange Commission.


The Principal Manager, Corporate Affairs, NSE, Mr. Shola Oni, said on Thursday that the NSE was yet to receive any information from SEC on the suspension of the shares of the two oil companies.

Oni said, “We read the story on the pages of the newspapers just like every other person and I think that will not be the best for the system. The relationship between the stock exchange and SEC has always been cordial, but there should always be due process.”

SEC had, on Wednesday, announced an indefinite suspension of trading in the shares of Afroil and Capital Oil on the NSE. The commission said the decision was a fallout of an investigation into the activities of six companies, announced on February 15, 2008.

According to the commission, the two companies were involved in insider dealings.

The commission had declared that the basis for the continued trading and rise in the prices of the shares on the exchange, no longer existed, adding that the decision was to protect stock market investors.

Prior to the commencement of the investigation, the Director-General, NSE, Prof. Ndi Okereke-Onyiuke, had flayed SEC for not informing the Exchange about the activity.

Our correspondent gathered that, despite the suspension, there was still trading in the shares of the companies.

Some stock brokers said that the shares of the companies were, largely, in offer on Thursday as investors were apprehensive over the announcement.

The stock brokers, who spoke on the condition of anonymity, berated SEC for not informing the NSE before carrying out any activity on the Exchange.

According to them, the perceived unhealthy relationship between both organisations can create tension in the capital market.

“We all agree that SEC is the regulator of the capital market, but there should be due process in everything. The commission has to understand that the NSE, to an extent, is also a regulatory body.

Without the stock exchange, I don’t think there will be anything for SEC to regulate,” a stockbroker said.

At the end of trading on Thursday, Afroil, which sold at N24.13, traded 4,424,117million shares, valued at N106.754m in 342 deals.

For capital oil, 3.414 million shares worth N55.006m were traded in 144 transactions. It sold at N16.11

gonyix:


Is it just me or are the peeps at NSE and those at SEC on a power tussle
I guess this na naija

eniyanman:

@pumice,
you, topgun and roughcut are doing a great job with your chart analysis. i do learn a lot from you guys.
learning, for me, is a life-long process.