₦airaland Forum

@RoughCut, bros abi u no go sell COSTAIN hehe, me I am on cruise control till FY result, no get volume like dat to dey trade. By then sef the thing fit reach almost 100% at this rate

UBA stock bid daily position for Jan 31

RoughCut:
And the funny thing is peeps are still buying. 10 deals yesterday and 11 today and its being on very strong bid since it came out of TS so this jet get very long MOT at least until FY in March and before the IPO'ers start collecting their 'sabuke' or is it 'pali' ?

I know o, I think its just the sentiment, cause folks see it rising and want to rush on board not caring for price. Me i'm just resting heavy, looks like this thing might defy gravity by march. I was hoping for 25% post TS, but 100% by march would be great

@ RoughtCut, na wa this Costain plane na fire

RoughCut:
Hopefully if Nigeria beats Ghana on Sunday i predict_{with the aid of BIGBOY LARRY's crystal ball} there should be a max share price appreciation across the board next monday and a few days after this is what i call 'feelgood' factor!

Anybody watching Costain at the minute?

oga e be like say na only u and me dey watch Costain steady 5% gain past 6 trading days now, still on high bid, na wa o!
looks like there are folks who just want to buy because its going up, or speculating it'll go up even more just in time for FY results.

NSE Phasing out trading floors by 2013

http://allafrica.com/stories/200801230094.html

Speaking during the review of the performance of the NSE in the year 2007, the Director-General of the NSE, Professor (Mrs.) Ndi-Okereke Onyiuke disclosed that the planned phasing out of trading floors is in line with the advancement in technology which makes it possible for transactions to be carried out remotely from the trading engine.

She said, "Recent advancement in information technology infrastructures has made it possible for trading to be done remotely. Despite the opening of new branches of the trading floors in different parts of the country, we intend to leave the trading floors for another five years and observe developments in the market."

She disclosed that it will seek the opinions of stockbrokers and other market operators concerning the issue, and if the operators indicate that they can do without the floor, it will be phased out.

According to her "Nigeria is not yet ripe for a floorless stock exchange, going by the low level of trust among Nigerians.

"Corruption has seriously eroded confidence and trust among business people in Nigeria. It is very difficult for a Nigerian to fully put his trust on another Nigerian. This has impacted negatively on business in the country. People would only want to do business with the people they can see and those they know. This is the major factor that would make us to retain the floors until a reasonable time in the future," she explained.

Onyiuke stated that the NSE plans to change the Information Technology (IT) it is currently using due to the vendor's refusal to upgrade the system. She explained that the upgrade became necessary following the increase in transaction volume.

The NSE has recorded significant improvement in the market indices over the past year, especially in the area of turnover volume and value. It recently celebrated the crossing of the N1 trillion transaction value.

Onyiuke hinted that the NSE may migrate to the same system with the London Stock Exchange (LSE) and the Johannesburg Stock Exchange. She disclosed that migrating to the same system with the LSE and the JSE would help in boosting the profile of the Nigerian's capital market, making it attractive to foreign investors.

"Following the refusal of the vendor of our current trading engine to upgrade the system to accommodate our functions and demands, we have no other option but to get an upgraded software from another vendor. We are considering buying the same network used by the LSE and JSE.

"This will afford us the opportunity to enjoy the same privilege JSE enjoyed when it joined the network. Whenever investors from around the world visit the site of the LSE, they would stumble on JSE because it is mentioned in the same site with the LSE. This has helped JSE to get the attention it is presently enjoying, making it the most attractive stock market in the African continent," she explained.

windywendy:
@Fatherof2, you know say you be my brother any day abi? And I respect your opinion very well on this forum as well as the other many varied opinions. But e get one thing when you dey do wey de vex me well well.

Your strategy is sound no doubt, and you're obviously successful at it. I, like you, trade very heavily too. But sometimes your comments seem condescending to people who choose to do long term investing. Not too sure what's going on between you and Wanaj0, but it's not too cool for you to come out and call a stock useless, especially after someone has recommended it. Haba, Fatherof2, this detracts from your very well respected views na, it's beneath you.

Anyway, me I don talk my own finish . Please keep your comments impersonal, it'll help to foster open-mindedness on the forum, which is what we really want. Abi?

my dear I think at the most recent comment, he meant if he puts N100k in there(chellarams), at 5% gain, that wont be enough profit, hence very useless, but with someone like wacky waja carrying volume with N40mil, 5% is N200k
I went back and found that post and thats what I got from it.

@frankriri, may God help provide you and your family that peace that surpasses understanding as you make it through, may His soul RIP

RoughCut:
Anybody watching Costain or is it on Autopilot? I no sabi as i dey nap for upper class business compartment

I think end of next week will be good to collect profit go do some window shopping and go dey look for the next jet being fuelled and rejoin Costain before they release FY for April/May

Haha I bought at that N18.89 and after commissions, its done 21.29%, you are right, next week is time to collect some profit and then get back on board around that March time in anticipation.
I no get volume like u sha, only 10,000 but na so my pocket reach for that one

ah ololufemi, how now, howz Oga Ovia doing?
abeg anyone else riding shotgun on the Costain ride? Nice to see its still on bid, I actually think it might get to N26 or so before engine quench post TS but since end of year is March, might even reach N30-N35 by say March/April once FY results reach based on market sentiments.

nigeriansecurities is great, I'd pay for their services, things like these are worth paying for especially as market gets bigger

Roughtcut I dey on board o, might take some out after I reach 30% profit, and keep rest for FY results

yodiyokun:
See this man We already know peeps level for here.

Over 60% of the guys on this forum are deep pocketed fellows and they know themselves. I am not talking of tens of millions oooo.

The remaining are still begging God. But we will reach there.

Remember, we started at different times and the power of time and volume cannot be discounted. Consistency is the name of the game, even after this thread is closed by SEUN.
Before long -- we will be driving our oloju opolo.

Una no go kill me with laughter oh!
The remaining are still begging God, my dear we don already beg God finish, God don give us seed to sow, and He go return am 100 fold, abi no be so? Make we continue to waka reach our land of flowing milk and honey! Ose O Jesu! Dalu Chineke! Thank you God!

anyone riding costain as well?
shey end of yr is march, when do they usually release results, around june? I need to check the spreadsheet

crazyT:
Baba Tobi, the thing dey fear me o. Bought about 1m units before the TS @ 6.02 and see me see wahala the thing don pass 100% Abegi God too much for me.
Capoil too no wan hear, bought @ 0.33kobo

Did I hear someone shout Halleluyah!!!

Halleluyah and Amen! He has crowned us with favor and honor. Omo don't forget to pay your tithes too
The NSE don turn u to millionaire in $, even if not now, real soon

COSTAIN is released from TS finally, almost 5% gain today

easimoni:
Leave drdaniel o! Some of us (in diaspora) have no way to watch the match. Thanks for the newsflash.

@easimoni and all other US based readers, u could have watched the match live on NTA Intl, that and other african cup matches

http://www.jumptv.com/en/channel/NigerianTelevisionAuthority/

it'll only work for those in the US, you also have to register for free.
for other countries, it'll just show ads

couple other free channels for US based folks include Silverbird, Channels

oasis2006:
easimoni,
Does the 1% charge on transaction include CSCS fee, VAT, brokerage fee etc

no how can, CSCS, VAT and SEC fees are standard, 1% is brokerage fee as opposed to the 1.5% that most brokerage places charge, so reduces the percent they need to gain profit.
Its for the money bags, portfolio prob needs to be at least N10mil, some places might give u face at N5mil

bigjay01:
@Naijadr

Please how do u sell with UBAS, do they have a sell mandate as with buy mandate. If yes, please send a copy to jazzyjay6789 at hotmail dot com

regards

just sent the template I used, chk your email.

ty_ademolu:
@all

how exactly can i learn to analyse stocks? so i don't have to wait for someone to post something good about a stock before i get in

I want to learn how to properly analyse a stock, to know how and when to enter?

do you think this is the right time to exit on diamond? or is there still a bull run pending that i can get a slice of more profit from?

reading the whole thread would really help o but really its a mix of fundamentals, technical analysis and market culture/trend
fundamentals : PE, EPS values
tech analysis will show u whether its overbought or oversold, and when to get in
market cultures: rumour, news, announcements, like Fof2 says he gets positioned in a stock 0-3mths before the release of results.
so if you invest in a fundamentally sound stock at the right time, and pay attention to the market= BIG PROFITS!
with Diamond, price is going to come down, profit takers are starting to descend.

I made my 25% off Diamond earlier this week from Dec purchase, and left, no point letting greed get in the way, and having to crash land o
plenty opportunity dey ooo, I'm so glad plenty people arent talking about the one company I'm eyeing, cant wait for money to come through next week!

@Prince, FCMB is falling, once the shares are listed price should fall, a good buy would be like N18-19

when is costain being lifted? anyone know?

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

today's update

tonyjon:
@bigjay01,

I was told today by someone from UBA Stockbrokers that we can deal with them directly and equally pay straight into their account instead of using rep to get in touch with them. He also said they will set up their on-line services very soon. He sent UBA Stockbrokers account number to me, so no more rep for stock trading.

Peace.

NBA said the same thing a few days ago, but I still wont put fresh funds there, but I'll advice friends starting with them to do that instead.
UBA is still not the place for big money so keep your vetiva application o

debojyde:
@ Naijadr

Are u an M.D in the US. If yes, how do you have time to even monitor naija,s stock market. I,m starting my residency this year by God,s grace and I hope I will have time for naija stocks because I know residency in the US can be very rough.

I,ll please like to know how u opened a CSCS online account from outside the US and how much did it cost you. Can I tell my stockroker to open it on my behalf or do I have to fill a form here and send back to Nigeria. I couldn,t get any info on their website.

Treat the NSE like a job after all it is if its making money for you, plus I don't plan on practicing medicine in the US too long for pay anyway,
Just get a PDA with internet access, and check it on the go. I've had a pda since even my college days, throw in internet access, and u have a pc on the go, best investment!
On a day to day basic, outside of reading reg naija news which I always do, nairaland is my source for main info, then I quickly log into my portfolio on nigeriansecurities, make sure its ok there.
I've a couple of friends physicians/residents/med students who trade on wall street, and we all know how risky that is, but if they can find time to do so then I sure can find time to do with NSE.
For NSE, I went to their website, signed up under register. Then downloaded and filled out form, and emailed it to my broker who will sign and submit it. Its the regular N2500 to do that. Your broker does have to sign the form so you can just ask them to do it for you.

Ola007:
Which one is BGL? and whats the minimum to open? its 1 mil for Vetiva i heard.

BGL is one of the big ones along side Zenith, Vetiva and co. Its minimum is N5mil but they sometimes work lower minimums.

tonyjon:
@Naijadr,

I received my package this morning from Vetiva, I will finalize everything on thursday and start with them full next week.

Great! I'm just waiting on my cousin at BGL, if they cant get anything for me by thursday, then I'll get my application at Vetiva done by next Monday and should be ready there by end of next week.
I guess in the NSE, you have to pay for great service!!

@tonyjon and bigjay
finally I got an update, my rep plied my email telling me they purchase UBA for me last week at N51.98 (sigh) and sold some of my NGC I requested at N27 (double sigh), sent that mandate when it was N29.
as God would have it, my Diamond that I requested on wed hasnt sold, as as diamond is climbing, I just send a mandate saying they should just cancel the sell mandate.
I cant wait for my new acct for real, persin go dey lose money for nothing, crazy!!

tonyjon:
@Naijadr,

Did you send it through your rep or straight to the brokers?.

Both, had 1 purchase through brokers, they didnt respond, I sent a reminder, got only a "Received" from them. They didnt deem it worthy to even construct a full sentence.
I sent a sale order through rep, still nothing, even just emailed him a reminder
Wish I had signed up for CSCS online service a long time ago, at least I would know whats going on, oh well at this point its either BGL (they are trying to negotiate the lower minimum for me) or Vetiva for me. Vetiva emailed me back this morning.

wanaj0:
You people are funny!!!!! Well, I have UNIC. Bought the IPO at 1.10 so no shaking.

However, people need to understand how the insurance business works!!!! A single claim can wipe off the whole profit.

That said, for UNIC in particular, I assume that the Non LIFE part is not included. Having a drop in turnover is a bit strange. UNIC still appears to be more transparent than the other insurance companies.

BTW, hope people are aware that NGC is seriously exposed to UNIC!!!!

Yup here in the US insurance business is risky business, but I still like UNIC, and thanks to you I sold part of my NGC last week
NGC is heavily invested in UNIC but I still dont see how UNIC results will cause NGC to fall lower than N24, but if it does, I wont be mad at all!

@tonyjon, still havent received confirmation for shares I sent purchase mandate for last tuesday sef, the ting don tire me

phew I almost bought UNIC end of Dec, but really this isnt good at least for now. The insurance sector is like a cascade, if UNIC falls, the rest of them all fall down together, lets see how low the prices will go,

@aktopgun, doctors practice medicine, all "we" know is medicine, but God is the true Healer, Here's a prayer

Dear Lord Jesus: Thank you for Your announcement that You are the Lord, our Healer. Tobechukwu, he was given as a gift from you to "praise You" ALL the days of his life. When Jesus suffered on the cross, was bruised, beaten and torn, any possible sicknesses were laid on Him so that Tobe could be free. He was healed even before I knew I was going to receive your gift! Christ redeemed us from the curse, so in the name of Jesus, I forbid any sickness or disease to come upon his body. Every germ and virus that touches it dies instantly in the mighty name of Jesus. Every part of his body functions to the perfection to when you o God created it to function.
We thank you God that you are with us now
AMEN

easimoni:
Govt of Naija charges a 10% "Dividend Witholding Tax". One more reason why I try to exit before the dividend closes. No need to pay more to Uncle Sege/Musa

Aah ok now thats something new I learned today! Thanks

I think NGC will prob drop no less than N25.99 by friday, but it'll pick back up, will be good in mid-long haul. Sold the one from Oct, but had on I bought end of dec that I kept, nothing big. Its still a great company