ROAD TO RECOVERY >>>>>>

I just pray it recovers cos it has really affected our economy, and wen the economy is affected, it gets back to the poor indirectly, i just pity our international businessmen who works their asses to get fresh dollars and considering the exchange rate, its killing.

Funny thing is, the world economy is primed for a recovery (happening already with some bank stocks in th UK more than double their lows this calendar year)
You know who will benefit?Those with cash and the stomach for investing. Unfortunately, I'm not in either category

www.equity-tracker.com

Market has bottomed out they are saying, uhmmm. Watch for a major retracement after this bullish move,
cos of fear and doubt to confirm if this is truly a recovery bull in the making, profit takers from the little bullish move will always cos retracement after which you will have the market balancing before a final recovery. (lets pray SEC/NSE know what they are doing to substain the bull, with all these scams and dirty games we hear of daily)

Injection of fresh funds by a major foreign investor,
Those expecting to partake of the released and anticipated good result/dividen/bonus from companies with strong fundamentals
are few of what is causing this bullish move.

Buy now (its crazily cheap) think long term cos, if you get out, you might miss the final rally except you are too good a speculator

Our government I guess don't know what they are losing by watching the market run dry, good tax opportunity and foreign funds, more funds for our organisations etc, but they are focusing on crude only and crying of deficit, thinking of borrowing from IMF (can't imagine that, clueless bunch of_._._)(uhmmm)

My conspiracy theory, pls don't believe this or quote me,
With all the Soludos we have in the cabinet. I guess the market was messed up so that they can devalue the Naira and rake in more dollar (FX) into their prvate purses, since they make and break the rule/law, they also know when/how to mop up funds from the market arena. they can wake up tomorrow morning and decide, we want to bring back the Naira, and must have sold all the stollen dollar. you get to hear of it much after.

that is why they always smile while briefing the nation on crazy negative down turn because they are always on the safe side.

Let me stop here for now. its the best time to be part of all these blessings in disguise, from AP N230^->N48, now 77^, 1st bank, Nestle etc even wise common man, can make his/her millions from thess wonderful opportunities.

The market is sure on its way to recovery but investors should be very careful and take personal responsibility for their decisions above all do not put money you cannot leave for at least one year in this market. The results moving the market now are activities of last year no one knows what kind of results these companies would turn in later in the year when they would be reporting activities of 2009. My advise is that, enter the market with your two eyes open wide and be guided.

Zenith Bank Plc declared an interim bonus of 1 new share for every 2 shares held in its half year result as at March 31, 2009.

Closure date: 5th of June, 2009.

Recommendation: HOLD.

The Nigeria Stock Exchange (NSE) has delisted the following MORIBUND stocks from its daily official list:

1. Footwears & Accessories Plc

2. Ferdinand Oil Mills Plc

3. Christlieb Plc

4. Liz-Olofin & Company Plc

5. Epic Dynamic Plc

6. Oluwa Glass Company Plc

7. Aba Textile Mills Plc

8. Asaba Textile Mills Plc.

Elai:

The Nigeria Stock Exchange (NSE) has delisted the following MORIBUND stocks from its daily official list:

1. Footwears & Accessories Plc

2. Ferdinand Oil Mills Plc

3. Christlieb Plc

4. Liz-Olofin & Company Plc

5. Epic Dynamic Plc

6. Oluwa Glass Company Plc

7. Aba Textile Mills Plc

8. Asaba Textile Mills Plc.

What is the fate of those have shares in these companies, money down the drain?

Nigerians are always on a speed lane. I always advise we take time to undersand the market. OKAY?

What is the fate of those have shares in these companies, money down the drain?

I think the shareholders have been told by NSE to hold an EGM so that they present their case in a common front for a common solution by the NSE.

I think the shareholders have been told by NSE to hold an EGM so that they present their case in a common front for a common solution by the NSE.

NSE Council urges delisted coys shareholders to hold EGM
Peter OBIORA
Proshare NI
May 13, 2009 at 16:20 GMT

The Council of the Nigerian Stock Exchange (NSE) following the delisting of nine (9) companies on its Daily Official List urged the shareholders of these companies to hold an Extraordinary General Meeting (EGM).

This was contained in a Release dated May 12 2009 and signed by Mrs. Yinka Idowu General Manager/Head Corporate Affairs Department of the NSE and made available to Proshare NI in Lagos Nigeria.

“The Council reminded shareholders of each of the companies that they have statutory right to convene an Extra-Ordinary General Meeting to decide what to do with the companies and their assets” the Release affirmed.

It was further affirmed by the Council Members that whatever decision taken at such a meeting would be binding on the Promoters and Directors of the companies.

As earlier reported, the Council of the NSE approved the immediate delisting of these nine companies cutting across various sectors of the Nation’s Stock Market.

Mrs. Josephine Igbinosun, Secretary to Council of NSE in the release asserts that the action was taken following the expiration of the time given to the affected companies to regularise their status with the NSE.

The companies delisted were Footwears & Accessories Plc in the Footwear Sector; Ferdinand Oil Mills Plc in the Food, Beverages & Tobacco Sector, Christlieb Plc and BCN Plc both in the Healthcare Sector.

Others are Liz-Olofin & Company Plc; Epic Dynamic Plc and Oluwa Glass Company Plc, all in the Industrial/Domestic Products, as well as Aba Textile Mills Plc and Asaba Textile Mills Plc both belonging to the Textiles Sector of the Market.

Source: http://www.proshareng.com/news/singlenews.php?id=6445

Looks like the shares are on its way up this is zenith bank's share from 31/01 2009 till yesterday(14/05/200 ) , how I wish I had bought when it is low, but it is still not late it might rise to N45 to N60, this is the time to invest forget all your losses.

5/14/2009 19.59
5/13/2009 18.66
5/12/2009 17.78
5/11/2009 16.94
5/8/2009 16.14
5/7/2009 15.38
5/6/2009 14.65
5/5/2009 13.97
5/4/2009 13.70
4/30/2009 14.40
4/29/2009 14.90
4/28/2009 15.00
4/27/2009 15.54
4/24/2009 15.70
4/23/2009 15.43
4/22/2009 14.70
4/21/2009 14.23
4/20/2009 13.99
4/17/2009 13.79
4/16/2009 13.49
4/15/2009 12.85
4/14/2009 12.24
4/9/2009 11.68
4/8/2009 11.13
4/7/2009 11.30
4/6/2009 11.20
4/3/2009 11.09
4/2/2009 11.35
4/1/2009 11.35
3/31/2009 11.77
3/30/2009 12.38
3/27/2009 12.00
3/26/2009 11.88
3/25/2009 12.50
3/24/2009 12.67
3/23/2009 13.04
3/20/2009 12.87
3/19/2009 12.75
3/18/2009 13.00
3/17/2009 13.00
3/16/2009 12.95
3/13/2009 13.18
3/12/2009 13.70
3/11/2009 13.15
3/10/2009 13.59
3/6/2009 13.73
3/5/2009 13.74
3/4/2009 13.73
3/3/2009 13.54
3/2/2009 14.25
2/27/2009 15.00
2/26/2009 15.50
2/25/2009 15.44
2/24/2009 14.71
2/23/2009 14.93
2/20/2009 14.94
2/19/2009 14.95
2/18/2009 15.15
2/17/2009 15.40
2/16/2009 15.40
2/13/2009 16.05
2/12/2009 15.96
2/11/2009 15.20
2/10/2009 16.00
2/9/2009 16.18
2/6/2009 15.41
2/5/2009 14.68
2/4/2009 13.99
2/3/2009 13.33
2/2/2009 12.70

Kai! Money de yab man o. See opportunity!

Have they bottomed out? Any ideas on the kind of performance they will report ? Probably all worth a punt if you have some money lying around. I missed out on some bank shares in the UK due to analysis paralysis. I hope I don't do the same with the Nigerian shares

risingdamp:

Have they bottomed out? Any ideas on the kind of performance they will report ? Probably all worth a punt if you have some money lying around. I missed out on some bank shares in the UK due to analysis paralysis. I hope I don't do the same with the Nigerian shares

R'damp,
What are you doing with all those charts and technical analysts tools,you want to be another candle lighter soon we'll start hearing all those doji,dojo and mario puzzo lingos that will fail yakata when market uncertainties decide to do their thing

goverment should inject liquidity into the market,,,many ways e.g paying the huge debt owed local contractors

risingdamp:

Have they bottomed out? Any ideas on the kind of performance they will report ? Probably all worth a punt if you have some money lying around. I missed out on some bank shares in the UK due to analysis paralysis. I hope I don't do the same with the Nigerian shares

RisingDamp, which website are you using for your techinical analysis? I love the tools and the platform and would be glad if you can give me the link.

Awaiting your response!

I support what you've said, but how many contractors have done the jobs assigned them. Injecting money into the system involves a whole lot.
Lets hope that the recovery signs are not a fluke by some bigs boys

@ IT GURU,
the site is :
http://www.equity-tracker.com.
you can do a lot here, all the comparison and analysis.
best of luck as we look forward to next week.

Thanks God the "gurus and gugurus" are coming back. May them not lead us into deep losses again, May their chart reading be as accurate as they think, may them see the next depression 90 days before it comes. MAY I LISTEN TO GOOD ADVISE TIME AROUND, above all, ^{May my portfolio move from -60% to +60 end of 2009}

the bear is coming to market this week, but will be resisted mid season. Get your acts in order and be ready for a ride. the road may be bumpy but i see a + sign and it will take us to the 30,000 mark.
ASI will ressurect again but not with a straight bang. it will surely come though it trarries.

will you join us?

bear_bull:

@ IT GURU,
the site is :
http://www.equity-tracker.com.
you can do a lot here, all the comparison and analysis.
best of luck as we look forward to next week.

Thanks alot, I will add this to my other technical tools.

I second your point that the market will hit 30,000 + mark anytime this year as the market had hit a 3 year low support and had consolidated for 2 months which is longest since the great bear started in march 2008.

rasputinn:

R'damp,
What are you doing with all those charts and technical analysts tools,you want to be another candle lighter soon we'll start hearing all those doji,dojo and mario puzzo lingos that will fail yakata when market uncertainties decide to do their thing

Chairman, I'm not a candlestick guru so you won't hear anything about dojo or double-top or whatever from me . I look at volume, trend, support and resistance levels only.

IT Guru, as mentioned already, the site is www.equity-tracker.com

Which stocks are good to buy now for short term purposes?

Fraudsters hijack share dividends

By Peter Egwuatu
LAGOS—THERE is palpable anxiety in the nation’s capital market as fraudsters have started hijacking shareholders’ dividend warrants, a development that has caused registrars of issuing houses to warn banks against endorsing third party accounts for the payment of dividends.
Registrars who told Vanguard last week that the hijacking of dividend warrants is becoming alarming in the country advised shareholders to be careful.
Speaking exclusively with Vanguard, Managing Director of First Registrars Limited, Mr. Bayo Olugbemi, said “fraudsters are hijacking dividends generally and not that of First Bank alone. So, it is a development that affects most quoted companies.
''It is not a new thing but the magnitude is rising. Shareholders are advised to key into e-dividend initiative. Banks should also not allow dividend warrants to be paid into new accounts of less than six months. They should also ensure Know Your Customer (KYC) proper.”
Similarly, the Managing Director of Union Registrars Limited, Mr. Soji Olagunju, advised that stringent control measures should be put in place by banks to make “diversion of other peoples' dividends very difficult. Banks should know their customers very well and allow dividends into named payees account only.”
He added that endorsement to third party accounts should be discouraged totally as this will go a long way in checkmating fraudsters.
He also advised that “shareholders should embrace the e-dividend policy for prompt and safe collection of their dividends.”
Also, a director of Valueline Securities Limited, Mr. Erem Erem, told Vanguard that the dividend warrant of one of the company’s major clients was hijacked by fraudsters in Benin-City, Edo State, recently.
Said he: “Some banks officials connived with these fraudsters to defraud investors. We are still investigating the matter. We have reported the case to the management of the bank (name withheld).
“The fraudsters target dividend warrants with large value and use it to open a fresh account and after a week or less, they withdraw the entire amount from the account.
''It is a very bad development, especially at this period that investors are being encouraged to re-enter the market. We are trying to build market confidence and some people are there damaging the market,” he added.
Erem, however, advised shareholders to be very careful with their dividend warrants.
He said: “Any shareholder who happens to change address should equally notify the registrar as well as the stockbroking firm that he or she uses. They should also patronise the e-dividend initiative.”
The e-dividend payment system automatically allows dividends to be credited directly into shareholders accounts within 24 hours of payment by the company.
Under this system, companies are to meet the obligations of dividend payments when due, and all parties involved in the implementation process are to remain dedicated and fully involved.
The Securities and Exchange Commission (SEC), had earlier stated that companies that fail to meet payment obligations immediately after their Annual General Meeting (AGM) will be sanctioned.
It would be recalled that the launch of the e-dividend initiative was as a result of the effort of stakeholders — SEC, CSCS, Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), NIBSS, stockbrokers, registrars, tax authorities, banks, issuers and shareholders associations, among others, to frontally tackle the problems of unclaimed dividends which has adversely affected confidence in the market.
Under the modalities for the e-dividend payment system, SEC had said “registrars are to collate bank accounts from shareholders. Registrars and NIBSS to prepare a standard e-dividend payment data and form which would be completed by shareholders.
Banks to authenticate the e-dividend data forms. Registrars are to submit banks’ details to NIBSS.
“NIBSS would link registrars to NIBSS server via PC, digital line and prescribed modem. Registrars to process dividend net of tax, on payment date and withholding tax paid to special account at FIRS or state Board of Internal Revenue, as the case may be,” it added.
Commenting further on the modernity of the e payment system, SEC said, “NIBSS will further verify data integrity. They will submit the file within 24 hours to all banks in Nigeria to enable the accounts of the named e-dividend beneficiaries to be credited. Upon receipt, the banks will credit the beneficiaries’ accounts within 24 hours. NIBSS would forward a compliance report to SEC within 24 hours. Any un-applied funds (for any reason e.g. dormant account) shall be returned to the registrars within 24 hours,” it added.

(Source:Vanguard)

These fraudsters should pity shareholders abeg. Imagine the bashing on the morale of investors in 2008 due to the economic meltdown. Infact, some guru contributors on this thread are yet to surface because there are still under the trauma . Atleast, if not for anything, the dividends can be used to buy tombo to cool down the nerves

the bear is here,  you can have it. this is your time; infact the market is yours NOW.
but your DAYS are numbered.
i see blood but,
whos knows what a see-saw is? that is what i see in NSE, but the spanner/wedge that will keep it in one direction is almost near it.
do you want to know when?

the bear is here, you can have it. this is your time; infact the market is yours NOW.
but your DAYS are numbered.
i see blood but, whos knows what a see-saw is? that is what i see in NSE, but the spanner/wedge that will keep it in one direction is almost near it.
do you want to know when?

jamace:

These fraudsters should pity shareholders abeg. Imagine the bashing on the morale of investors in 2008 due to the economic meltdown. Infact, some guru contributors on this thread are yet to surface because there are still under the trauma .  Atleast, if not for anything, the dividends can be used to buy tombo to cool down the nerves 

LMAO

I neva open any mail from Investor Delight for my Portfolio Valuation for months now-i just delete it straight cus the last time i attempted to take a sneak peek at my shares- i was close to beatin up my broker
pls when its safe to check, u guys should let me know abeg

midseason?
is this a rally or what? I thought the wave will get to the insurance stocks later but i guess i am wrong. the bullish wave got to them earlier than i thought. how long will this be sustained? no one knows, what will after now? no one knows? but watch it? soon we'll be over-heated again!

I have studied naija stocks for 3 years now the banking sub-sector would probably hit between N57 to N60 for the likes like Zentih, UBA and first Ba nk before it starts going down. I guess the time to invest is now.

x

rasputinn:

R'damp,
What are you doing with all those charts and technical analysts tools,you want to be another candle lighter soon we'll start hearing all those doji,dojo and mario puzzo lingos that will fail yakata when market uncertainties decide to do their thing

Rasputinn, well done for holding forth.