₦airaland Forum

@Windy wendy, I salute. I did not disappear, only got tied up in more work, how do you see this bear run, a ‘pro’ called me to say it will not last.

His opinion is that the results from both UBA and Zenith will trigger a bull run that will turn the market around soon and, other banking stocks will move up with the ‘ripple effect’.

@ barge, I am enjoying you guys here and am most pleased to get corrections from time to time, but which one be the 'voice of jacob, hands of Esau'?

Plus, do you think it makes sense to buy into UBN, at its present price? There might be surprises, these two old banks, the elephant and the horse will try to correct some impressions here. They will try to reassert their authority to protect their reputatuion from invaders like UBA and ZBN.

What I see in the horizon is a situation where the two old banks release their Q3 results as fast as these invaders did. The results will also be fantastic, who says competition is not good? The investors will be better for it.

@ pumping, no i no dey 'tiff' the name ooo,

@No shaking, no vex oo.

I just learnt another lesson in the stock market, and that is NEVER FALL IN LOVE WITH A STOCK, after I made some sales yesterday at the top of most of my holdings, the price is on full reverse to my earlier entry point. Cycle in, cycle out. That is the slogan for this year. No shaking

Does anybody know how liquid Zenith is on the floors? I am about to order them but am afraid that yesterdays result will make it very unavailable.

I still have the feeling that oceanic will drop some more, will buy at the end of the week.

barge:
Firstly , this is a forum where divergent opinions are accomodated "stop buying bank stocks " sounds like you are taking it personal. Part of my job is to manage risk and  decide if i am comfortable with any risk factor.

"we shall continue to patronize bank stocks " is patronizing . I will remind you part of maturity is accepting that others have a different view. We areneither debating nor driving opinion here.

Finally , I CANT AFFORD TO LOSE ONE KOBO .Though i take big risks ,they are calculated and i if lose , i don't fret .  It can't be a taboo to see whats wrong even if you are profiting from it.

@ barge, if truly this is a forum where divergent opinion is accepted, then you should have accepted mine, and not select my comments for special castigation as if I was the only person against the write up. Others earlier posted things to negate that bank thrashing but you said nothing, abi you just wan silence one ‘small’ voice?

There was nothing personal about what I said, I like to be precise in my comments, hence the direct reply instead of dancing round the point. Even more confusing is saying you cannot accept to lose one kobo and still said you will take calculated risks and don’t fret when you lose?

Please educate us about how you can take risks and not think of losses

A thought just occure to me, NB at its current price is cheap, and its year end is past, I know they cannot afford a bonus despite the high PAT expected, but the dividend will be above N2.

A good buy if you ask me.

For the doubting thomases who are skeptical about the good results being churned out by the banks, well stop buying bank stocks.

Water will always find its level. Untill such a time the investors themselves have decreased returns from banks in comparison to other sectors, we shall continue to patronize bank stocks.

However the warnings are noted, but never invest any amount you cannot afford to lose. This is the golden rule in risk management.

I took a dive out of Wapic insurance today and it seems to be a correct move after i saw the see of reds in the sector, waiting for more falls so i can load another stock. Iknow i will not see UBA to buy tomorrow but i will make an attempt.

IBTC has done around 20 percent in the last one month alone, shooting its PE too high, i feel the price is too high and can only go down, i am considering a sale. Any contrary opinion?

can anyone recommend for me any good online book on trading stocks so I can start immediately to prepare for what I said I wont do?

So, welcome another trader to the shark infested stock trading waters, where he could be torn to shreds by hungry sharks on the waters, sorry floors of the exchange.

Wonders will never cease to happen in this investing game, can you imagine my mentor, the one who introduced stock investments to me five years ago calling me and ordering me to 'trade' shares when they have appreciated!

And all the time I was of the impression he never sold his shares!

He told me to sell next week, what should I do? abeg any of una wey go church tomorrow should remember me in prayers. Getting confused with strategies so early in the year is not the best thing to happen to anybody.

Abi how una see am?

@nazzyon, oceanic is rather flying down now

Sorry to draw us back, but how much is the F/ inland offer going for?

@ windy wendy and other gurus, my sister I apologize, in fact this market baffles me. I have said this somewhere in this thread that all these analysis and technical computations, the moving average whatever, whatever, the sleepless nights spent trying to read meanings into chart patterns and trend lines could end up throwing more confusion into ones brain.

I love this forum and will still try to follow all guru recommendations until I become a guru and start giving my own recommendations. However I bought unity bank because it was the cheapest bank on sale. No extensive analysis, yet it later turned out to be the right decision.

I was joking I will sell unity bank on Monday; I will never sell my holdings until after Dec. 31 2008. No shaking. This is because I want to see how that strategy will work after doing a lot of trading last year 2007. I will then compare and know which to follow.

I know there will be a time to regret that strategy, when you see you paper profits evaporating, or what my friend pumping777 called ‘spread sheet profits’. But remember it will bounce back, it always does, if it is a ‘sound’ stock you are buying.

I am surprised at the turn of events here! sometimes in early december that i mentioned i wanted to cycle into unity bank, some gurus here said there was nothing good about unity bank, that they will never touch it with a ten foot pole.

When i mentioned that i made a fast 40% in the stock in three months, they still told me the bank is as good as dead. They told me i was being sentimental and will make a mistake because i got lucky last time.

Thank God i didnt listen, went ahead and bought me a few hundred k units, and see how una dey praise the so called dead bank!

Na me go sell to una on monday I will offload my unity bank on you guys  

@harrisoft, it was me wy discover the name of the stock to be diamond bank, but hey poor me you gave the credit to a big boy as if he needs more big accolades

Na me be the wizard there, a small upcoming guru in the making

Maybe that diamond stock is Diamond bank! Hahahahah!

@ pumping, ololufemi, which one be spredsheet money again?

@Ngegy, you are very ver qualified for the div. If it is on 7th that it will close. Japauls last result was good enough, a buy is recommended.

Or you can set up a little bookshop in any space you see, Nigerians dont read but the awareness is growing.you could stay there at the end of working days and weekends.

God works wonders in the stock market, but only after you have done your own, and remember to pay your tithe!

Selling your lasaco will only be justified if you have reached your objective on that stock. Moreover do you still see the company doing well going forward? If so hold on.

I agree with pumping, selling youe secondary market stake when you are still not sure of the qty you will be allocated sounds untrue.

Try unic insurance.

@ fitofly, why not show us an authentic likn to a publication that supports you 200000 claim, cause for now what we are arguing with is only your exchange with your broker who may not know anything in the market except his monthly salary.

How high did IBTC close, anyone?

Long term investing beats the shit out of speculative trading anyday, ask the worlds richest investor and he will tell you he has some companies he bought their shares 65 years ago!

Trading fritter away your money on brokers commission and other charges, plus the countless hours you waste sitting in front of computer screens doing technical analysis?

@ Nimshi, true there was some small profit but i see that hanging on would have fetched me more dough.

See what trading did to me last year, I was holding down 200k plus AG Leventis until I got some negative press from this forum about the company. That was when they announced a very small rise in their PAT (I think less than 10%)

i panicked and sold at 3.95, bought at 3.61, now see me now

This same UBA Ololufemi, ha. Everyone loves it now and the company is dropping value? Quite unusual I must say. So what may be responsible for this, if it loses more today, I will call off any more purchases until we know the facts behind the scenes.

Maybe a director is shedding weight or something like that.

I would really want to trade stocks on the NSE but the inefficiencies of our brokers, and the general market problems, like unavailability of good shares has forced me to take a longer term look at the market.

Perhaps I will be the only person doing this in this forum, but I intend to trade nothing at all no matter how much it appreciates or depreciates. I will only use fresh funds and dividends to buy good stocks of the moment.

I will try this for a year and see how I perform by 31/12/2008.

I don talk am before say all these technicalities dey cause me headache, so i go just siddon dey practice common sense investing, will see how i do in half years time.