₦airaland Forum

DieRich5:
.4 I'll buy at dat area also
CHZ been down.............yeah CHZ is the father of sports tokens, I'll be looking at PSG for now

With PSG, I want it to have a weekly green candle first... From current valuations, an x3 is on the cards

donprosper6:
Pls Which coin is likely to turn $1k to 30k in two months? It’s bullish season
I want to buy I need like 3…
Lol it might sound impossible but y’all gurus know a coin that have the Potential.
I’m waiting for a reply pls

You'd end up losing your 1k if you're not careful

Happiness09:
It needs to close above 63,000 today, this is the 3rd week since it's been trying. If it fails by the end of today, we might see 56,000 next week and if Daily closes below 56,000, it's game over.

I'm looking at it differently... I'm not really bothered with specific numbers now as bitc0in will usually do what it wants. One area I'd be watching on a pullback would be the weekly support as I expect buyers to step in there

On the marco scale, the market would still be in a technical uptrend even if it dips to 44k.... The coin pumped from 40k to 67k in less than a month... There should be some healthy consolidation

Reeefe:
Divine down to 0.37 show we load more?

Hehe... questions people ask..

emmanuelewumi:
At an All Time High All Share Index of over 66,000 in 2008 at a PE ratio of over 40 and dividend yield of less than 2%, it is obvious to the informed that the market was gross over valued.

Market capitalisation moved from N600 billion in 2002 to almost N10 Trillion in 2008, how is that possible...

All Share Index moved from 8111 in 2000 to 66,000 in 2008, how possible.

The faster the rise, the deadly the fall and the longer it takes to recover.

Instead of looking at 2008.

Can we look at the growth from 2000 to 2021, where the All Share Index moved from 8111 to 41,000 and market capitalisation moved from less than N600 billion to over N20 Trillion.

Or look at the All Share Index from when it was introduced on January 1st 1984 at 100 to the present 41,000

Of course the market is higher valued today than it was in 1984 or 2000. If it wasn't, we wouldn't be having this discussion.

Truly, the 2008 peak was a classic bubble. The first so far in the NSE.. I wouldn't really blame retail money caught at the top that's just normal human nature... Folks would always be bullish at the top... The concern is that the market has continued to punish them for over 10 years... The market has failed to beat inflation (and devaluation in our case) which are critical indices
For comparison, the US stock market has historically beat inflation and so it always made more sense for their citizens to invest in it than keep money in the bank.

Around 2008, there was a worldwide market crash... But then, most other markets put in new highs in less than a decade... Same also with the covid crash. The difference was that even at the lows the covid crash, while certain markets traded far higher than their 2009 lows, the NSE was pushed back to its 2009 lows... Not good..

Everyone invests to make money and enjoy it in their lifetime. The life expectancy in Nigeria is less than 70... 14 years is alot of time to wait...

All said, 2 places I'd spare the NSE are these;

1. The NSE is largely linked to the Nigerian economy which has been largely stagnant over the last decade..


2. Looking at the historic ASI attached, it does seem set to break past this 42000-44000 region which it has struggled with over the past decade. This should see it set on another rally... I'd keep this in mind and revisit in the coming months.... If the last 10 years was a bear market, then hopefully, the bull market should be good... Afterall, some of the money the CBN is printing ought to find its way there

emmanuelewumi:
Market capitalisation is nothing, the bank with the highest market capitalisation might not be the highest in terms of profitability, best in terms of efficiency, the best in terms of return on equity, return on asset and growth rate. The most important things to look at at the intrinsic value of the business, the enterprise value of the business.

If anybody wants to get a 5% equity in any of the big banks in Nigeria there is no way their market capitalisation will not increase by a minimum of 80%.

Zenith Bank at N25, Jim Ovia will not sell his over 2.5 billion units for N70 billion Lai Lai doubt if he would sell for N100 billion which is about N40 per share. The annual dividend of over N7 billion is okay for him.

According to market capitalisation, Zenith Bank is about N800 billion. But the share holders fund alone is over N1 Trillion, deposits is over N4 Trillion and profit after tax is over N200 million.

When the market is low, you can value my property as N100 million. If the property owner is getting an annual rental income of N20 million from the property he is less concerned about whatever valuation ascribed to his Investment property.

When investors know the difference between price and value and understand the valuation of an asset, Investment, Busineses, venture they will be able to make profit through their understanding of the market Dynamics, behavioural finance and Investment psychology

You misunderstand me on certain things...

When looking at a markets, nothing gives a better picture of performance as the market cap over time (by time I mean years-decades)....This is because whatever fundamentals are at play in the individual participants of a market should ultimately affect price over time.
Now moving to individual participants of a market, a whole lot of indicators some of which you mentioned come into play of which the market cap is also among. I don't mean big market cap=huge product. But then, even in the NSE, there's a reason why the so called FUGAZ happen to have the highest market cap. 90% of growth over any timeframe in the US stock market are always accounted for by a handful of companies...... I can go on and on.... If I was to invest in the NSE today, except I have some good underlying info, I'd still be limited to a few big hitters.... Yes I want to be the one who bought Amazon, Apple or even our own Okumu when they were largely undervalued. But I wouldn't devote my whole portfolio to stuff I hope would be the next big thing that ends up being Myspace or Unity bank


If a sensible high net worth person wants to buy 5% in a listed coy, it'd surprise you to know that in that period the price of shares might remain stagnant or even fall not until the very end of their buying. When such folks buy, they do so slowly over a long period of time usually when the market is ranging. Sometimes, they'd even sell some of their buys to maintain price within a given range. I've seen this happen over and over again... The reason why you might see a huge uptick when there little buys on the NSE largely boils down to liquidity...

The example you gave with Zenith is a good one... If a coy has strong fundamentals for a long time that has not reflected in price, then it's either the market is trading at a mark down (which isn't bad) and prices would eventually catch-up or it's just an inefficient market where large coys can do as they please.... I wonder which one the NSE is.

Like I said, every market has period of markups, markdowns and periods where the market finds its true level.
Understanding how that market sentiment operates was the reason why for example I bought Bitc0in in May at 30k usd everyone was screaming how it's going to zero. Of course, I'd do the opposite when it gets to the other end.... Now my worry with the NSE is this: since 2008, it seems to have continually been in a downtrend... When will the markup come?

Finally.... Doge.....
It's day will come... That day seems close

4. Wrx....

An exchange token linked to binaz... With a number of micros putting in straight green candles, I scanned around and came upon chz and this... Chz has since pop'd... This on the other hand is shaping up to have 5 tiny green weekly candle... Mostly, that's followed by a fat green one.... Either way, it's been consolidating at this range for a while... Getting in here ain't a bad bet for the long-term

3. Axs....

One of the meta verse linked coyns that failed to pump eith others.... A flip of 140 should bring a rally...

Its worth noting that this coyn was trading for 2 dolls few weeks back.. so I wonder how much strength it still has

2. Sol....

After the initial rally from 40 to 200, it's consolidated for some weeks... I'd been waiting for the weekly support to trend up and push price up... That now seems to be happening... Good breakout last week and this is looking like a retest.

180 on this is a buyer for me... Anything less is discount...
A continuation of the initial rally should take prices upto 300 at least

1. Matic.... A good weekly close abv prev resistance...
I think ATH at 2.4 is programmed on this.... A dip to between 1.6-1.7 should be a retest of previous support and good loadup zone

I'm still holding out for one more dip from bitc0in within the next 1-3 weeks before a breakout just so I can loadup... If that doesn't happen, and bitc0in continues to range, then alyts would continue to rally.... I scanned thru a few charts and would share stuff I think are imminent....

Still on the NSE, I still don't understand why it's much easier and cheaper to trade foreign stocks from Nigeria than our local ones. It's like saying it's easier for a Nigerian living in Nigeria to open a US bank account than a local one. It's not magic, the market would remain dry until some of these fundamentals are changed. The world financial market is becoming more global and folks are increasingly getting involved in different markets from different parts... So why lock oneself out?
Tomorrow, they'd complain how youths are not invested on the NSE and I wonder if folks at NGX are dumb or what....


Recently, Kuda Bank raised a $500 m funding and that catapulted it to between number 5-7 of top Nigerian banks by market cap. That means one or two micro international consortiums can easily buy up significant stakes in any bank of their choosing. That left me wondering... Why are Nigerian banks that cheap? Looking at their quoted rates and associated liabilities and running costs, most are practically worthless...

Fact is it all starts out with the market being manipulated to the benefit of a few. With time, everyday folks leave the market too draining the much needed liquidity and everything tanks...

Hamachi:
Good morning

M.y.c.r.y.p.t.o.n.g is a community for c.r.y.p.t.o enthusiast on telegram

Rather than spamming multiple threads with this, why not put up a nairaland add... If there's good content on the telegram page, it'd grow without this

pafra:
Nigerian stocks are useless
In 2008 or there about, I took out 1M to buy stocks then with lead capital. I bought two stocks unity bank shares 100,000 units @ N8 and GoldLink insurance with the remaining balance. My register gave me over drafts which I didn't request for.

They started deducting interest from the overdraft . Without information

Fast forward to 2021. The two stocks are less than N8000 .

I just applied for e dividend. The Guy in the register told me he can't remember any dividend from the two stocks..

After share reconstruction unity bank share is now 9240 unit @ 0.57

While GoldLink insurance 25000 @ 0,20



For ten years. Imagine I invested then on the worse crypt0 currency

After so many paper work , emails and calls they are yet to pay e dividend. One register Data max insists I must sign the signature I use to buy guarantee bank share about 18 year ago

It is one month since I first apply I have sent reminders The register will tell that they forward your request.

Last week I received N1000 from transcorp.

They are just frustrating and annoying.
Just run from Nigerian stocks

Your post is a sad one and too many people who bought then have such stories....but 1mil to 8000 leaves me scratching my head...
Holding the stocks this long means that you went in for the long term.

Folks would blame you for not doing this or that forgetting that you were largely a victim of a weak market. People would quote Warren Buffet forgetting that while his principles are sound, they're built on a fundamentally strong market. The US stock market has been in an uptrend for decades. It has about one major dip every decade and bounces back stronger.... In such a market, if you apply the right principles and search out the blue chips, you're made. On the NSE, the opposite is the case.... The few rich manipulate the market as they see fit with no repercussions whatsoever. If I put same effort I'd use to find a bluechip on the NSE into a strong market, my returns would be many times better.
The sad fact is that if you had simply held the dollar in 2008 till now, you'd have outperformed 99% of people who invested in the NSE.

Crypt0 is quite different, it's largely changed the game... 'If to say' doesn't help in investing, but if that 1 million was put in bitc0in in the early days and held, you'd be earning tens of millions in yearly interest by just lending out your Bitc0in. The onboarding process is straightforward. With the onset of tokenised stocks or commodities, one can buy crypt0 versions of stocks or metals that are pegged to the underlying asset. Even if one doesn't want any volatility, they can just buy a usd coin and earn interest on it... Of course, the crypto asset market can still be manipulated just like any other but it's very much an open one...
It's no wonder why Nigeria has the highest rate of crypt0 adoption... Sadly such monies moving out affect the local markets. I'd say that if half of the money Nigerians had in crypt0 was channeled into the NSE, each stock would trade for at least 25% higher

DieRich5:
did u still bought CHZ

Nope.... While I was waiting for a entry at a rerest, to coyn took off like a rocket
.
If it retraces to 0.4, I'd get a position which I'd hold unto for a while..

Thing to note is that most sport tokens are built on chz... And most have been bleeding for weeks... A chz rally might just awaken the dead

jobark:
Metaverse Facebook drama

Didn't know... would have held on a lil longer

ThisisIkemefuna:
jedisco

Mana is a metaverse crypto that's why it is pumping atm. Can you share your thoughts on the Metaverse ecosystem/space?

Its gathering hype moreso with Facebook talk...aside that, i don't know much about the space...
If the liquidity flows there, I'd look to make some quick bucks too...
If I knew the pop was meta linked, I'd have not sold my stash early

I've had a scan thru some metaverse linked tokens... Most have followed mana.... Only one yet to pop is axs.... But that coyns has gone from 2 dolls to 150 dolls in a few weeks... Thats surreal...

Itzlinda:
Boss please drop the coins you would be adding.

If I do, it'd still be to tge initial coyns I posted abv (keep, nkn, mana, perl, beam,ckb, blz )... Micros are tricky... All one can do is buy at a good time and wait for the pump...

Others I'm more keen on are Chiliz and tfuel as they look more ready to breakout...

All said, I don't want to spread myself thin by buying too many stuff....

Hamachi:
Most young Nigerians are not ready to invest in anything NGX, the returns are very poor, thebojes under 40 and 30 prefer crypt0

Truly that's the case now....
But there was a time when young folks rushed in with their little naira, hoping to be the new Warren Buffet in old age.... Most were burnt irreparably and haven't returned eversince.... I remember making enquiries on buying stocks in 2007 wanting to use a good sum I was gifted... Thankfully, I didn't. A strong market should protect its participants by trending higher.

The second issue is onboarding... Why should it be easier for a Nigerian to buy foreign stocks than local ones.... Before the CBN ban, one of the local fintechs started offering folks the opportunity to buy crypt0 in-app at the click of a finger... Why can't the NGX partner with our fintechs to spotlight local stocks? The onboarding process is just ridiculous..

On Crypt0, it had it's first boom in 2017, but before that the young had largely stayed away from the NSE since 2008. Today, crypt0 has attracted young Nigerians largely due to its easy onboarding process, returns, volatility and a strong market fundamental. Moreso, with the crypt0 space heading in the direction of earning yields on assets held, it'd be more difficult to convince a young Nigerian already in the crypt0 market to invest in local stock with the potential risk of devaluation while on the other hand, he can hold a usd stable coin and earn yields of upto 20%.

petaling:
You have a point. Only high volatility in NGX will attract young people. You can't expect them to invest when stock prices remain flat or sideways for a long time.

Young people may be tilted more towards more volatile stocks but a good number still still balance their portfolio well.
Penny stocks that usually provide huge volatility (to those who want it) can't do that easily on the NSE as the liquidity is very low......

I agree the decline of the market hasn't helped... Even if slow, once a market is moving upward with strong fundamentals, new money will find it's way in....
The best insurance a market can give is by rewarding folks who held through the bad times and bouncing back stronger... If folks who dumped the NSE after the 2008 bubble are not regretful after 14yrs, then new entrants would stray close.

Whi knows what's making mana pump?

Took my 2.5x on it and will look for a re-entry... This kind pump nawa

jedisco:
A while ago... I bought some micros with a target of 2-3x in the short term... Gladly, some have started yeilding fruit... They were keep, nkn, mana, perl, beam,ckb, blz

Keep did a 2.5x from entry...
Mana is now on the move... Will look to to at close to 1.5 and hopefully buy back lowe or add if it flips ATH

Going forward, I'm not keen on extending into other micros yet... But just compounding on chosen coyns...

For coyns which have pumped, I'd double my initial entry position on a retrace and target another 2-3x

Hehehe.... Le candle

Will add some more coyns to my oda micros

Another area fintechs could save the day is in the NSE.
The stock exchange has largely underperformed and 14 years after has failed to beat its all share index high it reached as far back as 2008. Coincidentally, that was the last time young Nigerians were interested in the market.

I've looked around, and I don't know any Nigerian under 30 who is invested in the NSE... I can extend that age to 40 and would still struggle to name folks..and I know a number of financially sensible folks... Nothing guarantees the death of a product/market as one that cannot attract younger folks or new money. A while back, someone wondered why it was easier and more straightforward to buy US stocks from Nigeria than buy Nigerian stocks...

If the NSE is going to attract new and young money and boost it's thin books, then that'd definitely come by leveraging fintech.... Just a thought.

On the recent viral publication by The Economist, as one of the bright spots, it was mentioned that Nigeria hosts 3 fintech firms valued at over 1 billion usd... Looking into this, its true.On the other hand, just 3 traditional Nigerian banks match that valuation.

On this thread, there's the general belief that fintech=scam.... This seems to be a cultural issue. Look no more than SARS arresting anyone with an iPhone as evidence. In a hostile economy like Nigeria, building a company that crosses borders and is valued at over $1b is hard work... One begins to wonder if our banks are generally undervalued or if investors shy away by thinking they'd struggle to maintain profitability in the long-term. I struggle to think of any company outside fintech (aside those backed by moguls like dangote) that has started recently from scratch and come close to such valuation...

To summarize, though it might seem easier to perpetuate scam online, in Nigeria, vast majority of scams are not via the internet. So no need equating a budding sector with fraud.

mymadam:
You've hit the nail on the head... Both reasons, IMHO. It's a pity

On this thread, like someone said once, there are those who consider themselves as 'original members of the thread' who believe they should decide what should be discussed and not... Add that to the fact that conversations here easily turn to personal confrontations and you have a dying star

A common mistake people make in trading is selling the winner to buy the looser. There's a fine line between this and trying to maximize your position in the winner by exploiting lagging coins.

When a coyn pumps... Folks go chasing similar coyns hoping to catch the next big thing... Most times, it doesn't work as well as what they're doing is practically selling the winner to buy the loser... I've made this mistake before.

If you caught a rally on a coyn early, it's usually better taking profits and maximizing your position in same coyn rather than spreading your portfolio thin over numerous similar coyns hoping that one would pop as well.

Good example is the recent pump by shib... Naturally, people who missed the rally would look for similar coyns to ape into.... In crypt0, it's unusual to have multiple winners... A few tokens usually win...

In summary, if you caught shib, then u understand the coyn well nd might be worth maximizing it... If you didn't and looking for similar coyns, then it's worth getting into them early..

Why has this thread gone largely quiet over time?

Is it because of the numerous attacks on folks or people just being largely intolerant of alternative options

Doge.... Had a high volume breakout on the daily.... Now retracing... Good chance it holds the 4hrly support and pushes up.

Not adding more as I loaded up at 0.2- 0.25

jedisco:
Yeah.... Took 25% off at 0.79 and a significant chunk at 0.85..... might close the rest soon and bid the 4hrly or daily support

Reloaded on shib yesterday....
So far, it's respecting the 4hrly support....
2 things here...

Either its completed an ABC correction and should push up from here or this is just a lower highs and lower lows and in that case should dip mmore. Either way, I'm chilled on this

A while ago... I bought some micros with a target of 2-3x in the short term... Gladly, some have started yeilding fruit... They were keep, nkn, mana, perl, beam,ckb, blz

Keep did a 2.5x from entry...
Mana is now on the move... Will look to to at close to 1.5 and hopefully buy back lowe or add if it flips ATH

Going forward, I'm not keen on extending into other micros yet... But just compounding on chosen coyns...

For coyns which have pumped, I'd double my initial entry position on a retrace and target another 2-3x

BUGOFF:
@ Jedisco... You've got mail, sir.

Saw it but I usually limit my discussions to NL. What's it about?