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Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:50am On Feb 26, 2016

http://www.bloomberg.com/news/articles/2016-02-25/biggest-wave-yet-of-u-s-oil-defaults-looms-as-bust-intensifies

In less than a month, the U.S. oil bust could claim two of its biggest victims yet.

Energy XXI Ltd. and SandRidge Energy Inc., oil and gas drillers with a combined $7.6 billion of debt, didn’t pay interest on their bonds last week.

They have until the middle of next month to either pay the interest, work out a deal with their creditors or face a default that could tip them into bankruptcy.

If the two companies fail in March, it would be the biggest cluster of oil and gas defaults in a month since energy prices plunged in early 2015.

“We’re just beginning to see how bad 2016 is going to be,” said Becky Roof,

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 3:31am On Feb 26, 2016

http://abokifx.com/cbn-nigerias-foreign-reserve-may-slip-to-18bn-forecloses-naira-devaluation-businessday/

Going by the projection of the Central Bank of Nigeria (CBN), Nigeria’s foreign reserve, which stands at $27.66 billion may deplete further to $18 billion this year.

This is the result from the “risks posed to government revenues – leakages in the oil sector, reduced production, and drop in prices and the dwindling market for Nigerian crude oil.”

the lawmakers queried the utilisation of the N1.062 trillion revenue realised against the N482.167 billion proposed income for the year 2015.

They also queried the astronomical increase in staff cost from N158.134 billion in 2015 to N408.808 billion, as proposed in 2016 budget,

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 3:09am On Feb 26, 2016

newdada:
Just heard it's 220 naira to a dollar now.

http://www.vanguardngr.com/2016/02/naira-ends-2day-rally-depreciates-to-n355/

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 10:35am On Feb 19, 2016

megainvest:
Meanwhile in other news, someone who bought Seplat exactly a month ago would have earned close to 90% ROI by today. You say the cup is empty, I say there is plenty of water to fill it!

SEPLAT was enlisted in April 2014 @ the unit rate N576 it later went up to N720.

Now my questions are:

1)What was the value of Naira to dollar in April 2014 compare to now huh

2) Again what was the value of Naira to dollar in Jan 2016 compare to now huh

let's think outside the box and invest our hard earned money wisely.

*ThE OcToPuS*

1 Like 1 Share

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 8:39am On Feb 19, 2016

[http://www.punchng.com/naira-slumps-391dollar/]

I repeat by the time the market will price in the current hyperinflation both the mkt cap and index will sunk below 5Trillion and 15000basis Pts.

For those that areant aware the mkt cap has already drop to N6Trillion which is the exact post 2008 meltdown level.

Except for Dangote cement 2Trillion mkt cap that was added in Oct 2010 which now made up 25% of NSE Mkt Cap and as well has become the major tool for manipulating the closing price.

He that has ears let him hear.

*ThE OcToPuS*

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 7:28pm On Feb 18, 2016

http://www.zerohedge.com/news/2016-02-18/crude-extends-losses-saudi-finmin-says-will-not-cut-oil-production

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:31pm On Feb 18, 2016*

http://www.punchng.com/ooni-adeboye-meet-buhari-osinbajo-monarch-advocates-farming/

“Something happened in Nigeria that we did not notice. "Last October, crude oil prices started going down astronomically but cocoa price went up over 100% and nobody noticed it"

“Nigeria in the early 1930s and 1940s was the largest exporter of cocoa in the world and the farmlands are still there. So what we have been able to do now is that is another positive indicator for the nation economy.~Oba Adeyeye Ogunwusi, Ooni of Ife on Agriculture

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:31pm On Feb 18, 2016

Intendy:
is it only stockmarket that means investing from my post.
any political topic should go to the right thread

Can you separate the eyes from the nose huh

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:37pm On Feb 18, 2016

Intendy:
people are investing in many areas.kontinu waiting for government and don't do the little you can do.
All that matters to me is good security.
power
some employment opportunities for d hustling ones.
good infrastructure.
like I always say let's don't derail thread

Derail thread huh

Then how will those things that matters to you come to fruition when the economy is in jeopardy huh

That's the more reason I 've been shouting since mid-last year that people should mostly invested in DOLLAR, AGRICULTURE, LAND and PROPERTY.

Else with time you get to realise that those NAIRAS you guys are gambling with on NSE thinking you are making profits has actually lost alot of irredeemable value

2 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:52pm On Feb 18, 2016

Intendy:
you'll just give yourself HBP before 2019

So thats all your have to say about the current state of the Nation grin

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:51pm On Feb 18, 2016

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:38pm On Feb 18, 2016

http://tribuneonlineng.com/nigeria%E2%80%99s-economy-in-trouble-%E2%80%94fayose

EKITI State governor, Mr Ayodele Fayose, has raised the alarm over the imminent collapse of the countys economy, saying the Muhammadu Buhari-led All Progressives Congress (APC) government was yet to show any sign that it has any solution to the dwindling economy.

The governor, who called on Nigerians to prevail on President Buhari to stay at home and govern the country, said it was the height of insensitivity to the plight of Nigerians that the president, who just returned from trips to France and United Kingdom, would again be travelling to Egypt, Saudi Arabia and Qatar from February 20 to 27, spending seven days out of the country in what they called three-nation tour.

Speaking through his Special Assistant on Public Communications and New Media, Lere Olayinka, the governor lamented the lack of a clear cut economic direction from the Federal Government, saying it is worrisome that President Buhari does not have any economic team and there is no policy direction yet, despite spending close to nine months in office.

He said the implication of the development and resultant effects are human right abuses, escalation of prices of goods and services, daily retrenchment of workers, folding up of businesses, states finding it difficult to pay workers salary and the Federal Government not being able to prepare what he termed common budget.

The governor said with President Buhari, Nigeria is definitely having a square peg in its round hole.
Dollar has gone double since Dr Goodluck Jonathan left office, with United States Dollar exchanging for N350 as of today.

Foreign reserve is declining on a daily basis, Boko Haram insurgents have come back, even stronger than they were when Buhari assumed office and Nigerians are now being made to pay more for electricity that is not available for them to use.

Most importantly, prices of foodstuffs, newsprint, medicine, among others have gone over the roof.

Should we still continue to attribute all these to Jonathan or the Peoples Democratic Party (PDP)?

Even former Central Bank Governor (CBN) Governor and Emir of Kano, Lamido Sanusi, is saying President Buharis anti-corruption stance is totally inconsistent with the forex regime he supported and that the Federal Government forex policy encourages corruption and rent-seeking.

While urging the president to focus more on the dwindling economy and stay at home to attend to critical issues, Governor Fayose said travelling from one country to another wont solve any of our problems, because I have not seen where foreigners assist any nation to develop.

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:35pm On Feb 18, 2016

http://www.bloomberg.com/news/articles/2016-02-18/naira-hits-new-low-on-black-market-as-dollar-scarcity-worsens

The local unit fell to 390 per dollar in Lagos, the commercial capital, from 375 on Wednesday, Aminu Gwadabe, president of Lagos-based Association of Bureau de Change Operators of Nigeria, said by phone.

The naira may fall to 400 per dollar by Friday, he said.

“As the currency drops in value, more people engage in panic buying,” Gwadabe said.

“There are importers looking for dollars at all costs to keep their businesses going.”

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 11:57am On Feb 18, 2016

http://nigerianow.news/nigeria-four-oil-exporters-hit-by-falling-currency-value-says-opec/

Africa’s largest economy was hard hit by the falling oil prices. The national currency, the naira, dropped against the dollar by more than 50 per cent over the past year.

On January 20, the Federal Government requested $3.5 billion loan from the International Monet6ary Fund(IMF) and the African development Bank to plug its $15billion budget gap.

The country’s oil revenues are expected to fall by 70 percent in 2016, while the hard currency reserves almost halved from $50billion to $28billion and the state’s emergncy fund went from $2 billion in 2009 to $2.3billion currently.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 9:02am On Feb 18, 2016

ufotty2001:
woooow!! This is good!!! Zenith, unilever will continue to fall as foreign investors pull out their investment..

Nigeria as an entity is crumbling you are here talking of companies huh

I really pity those that still put their hard earned money in this gambling business called STOCK MARKET after all the warning I issued.

Thank God I have raised enough RED FLAG on and before Dec 2015 but some buy buy buy proponents kept shouting it down.

So far dollar has lost almost 100% from the official rate N200 and thats just a tip of the iceberg.

Like i outlined in dec the best form of investment for a Naira holder this year are US DOLLAR, AGRICULTURE, LAND & PROPERTY.

Its those above class of assets that will act as a BUFFER to the forth coming financial HOLOCAUST which will trigger a hyperinflation by year end.

During 2008 global meltdown Nigeria has about $60B reserve which acted as a BUFFER but this time around we don't even know what is left in the coffer,

Because both greedy APC & PDP politicians has used all the dollars for selfish compaign.

*ThE OcToPuS*

[Oil-Rich Nigeria Now Can't Afford to Pay Teachers - Bloomberg Business] http://www.bloomberg.com/news/articles/2016-02-17/nigeria-faces-double-whammy-as-buhari-fails-to-manage-oil-rout

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:27am On Feb 18, 2016

http://www.vanguardngr.com/2016/02/naira-depreciates-further-to-n385-in-parallel-market-2/

The naira, yesterday, depreciated further to N385 per dollar in the parallel market as demand for foreign exchange intensified.

This implies the naira has depreciated by N60 against the dollar this week in the parallel market, when compared with the closing exchange rate of N325 per dollar last Friday.

The naira has been on steady decline since Tuesday, January 12, 2016, when the Central Bank of Nigeria (CBN) stopped weekly dollar sale to BDCs.

Prior to this action, the naira traded at N265 per dollar in the parallel market. Consequently, the naira has depreciated by N80 in the parallel market since the CBN took the action.

The steady depreciation was also aggravated by inability of the CBN to meet foreign exchange demand.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:29pm On Feb 17, 2016

Dollar now N365

This the only good thing Pa Buhari is doing for foreign investors.

He actually promise to turn 1dollar to 1k but most people mistook it for 1Naira grin

6 Likes 1 Share

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:57pm On Feb 16, 2016

http://mobile.nytimes.com/2016/02/16/business/dealbook/paragon-offshore-is-latest-of-about-60-oil-firms-to-file-for-bankruptcy.html?_r=0

Yet another oil company has filed for bankruptcy, as the energy industry and its lenders brace for a prolonged slump.

Paragon Offshore, which operates offshore drilling rigs from the Gulf of Mexico to the North Sea, filed for Chapter 11 bankruptcy protection Sunday evening, the latest filing in a painful shakeout buffeting the oil industry.

Over the last 16 months, about 60 oil and gas companies have filed for bankruptcy as commodity prices slide, and that figure is expected to double in the coming months if prices remain low.

All told, analysts say as much as a third of the sprawling oil and gas industry in the United States could be consolidated as a result of the downturn.

INVESTORS FASTEN YOUR SEATBELT ANOTHER FINANCIAL HOLOCAUST IS ON THE WAY shocked

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:20am On Feb 16, 2016

http://mobile.reuters.com/article/idUSKCN0VO01K

Oil prices surged to their highest levels in more than a week as news of a meeting of top officials from the world's biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut.

U.S. crude CLc1 was up $1.43 at $30.87 by 0330 GMT as the market reopened following a shortened holiday session. The contract rose by as much as $1.50, or 5.1 percent, to $30.94, the highest since Feb. 8, building on Friday's more than 12 percent surge.

Brent crude for April delivery LCOc1 was up $1.21 at $34.60 a barrel. It rose as high as $34.72, the highest level since Feb. 5, after rising 11 percent on Friday.

The world's top two oil exporters, Saudi Arabia and Russia, will hold talks together with their counterparts from Venezuela and Qatar in Doha on Tuesday, sources told Reuters.

The meeting is the latest effort by some members of the Organization of Petroleum Exporting Countries to join with non-OPEC producers in curtailing output. By cutting back production, they hope to reduce the existing supply glut that has pushed prices to the lowest in more than a decade.

Analysts remain cautious, however, that the meeting will result in an agreement.

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:18pm On Feb 15, 2016

http://abokifx.com/nigerian-naira-hits-record-low-of-345-vs-dollar-reuters/

Nigeria’s naira weakened to a record 345 to the dollar on the parallel market on Monday, increasing pressure on the government to devalue the official exchange rate to narrow the gap and spare Nigerians from huge bills for imported goods.

N1000 per USD is now the new benchmark

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 3:37pm On Feb 15, 2016

mercylicious:
Guy, how far? u hv been missing here.
Anyway, my younger bros wan enter ur side next month. e wan follow u chop oil money. ur help will be needed.
I will let u know when his work visa comes out. Till then.

I've been enjoying the CHANGE

in Lagos since Jan though will go back to our desert next month.

I will advice your brother to better stay back and enjoy the CHANGE except if he's coming with a DIRECT EMPLOYMENT VISA.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 8:34am On Feb 15, 2016

PETERiCHY:
USD now N335

In Dec I made ascertion that people should invest in USD, AGRICULTURE, LAND and PROPERTY.

I repeat you can only invest your long term idle fund in the stock market because this year it will tank like never before.

He that has ears let him hear.
#backtovacationmode#

*ThE OcToPuS*

http://www.punchng.com/naira-to-weaken-further-as-dollar-demand-soars/
The naira will weaken further at the parallel market this week after shedding nine per cent of its value last week, foreign exchange dealers and economic experts have said.

Last week, the local currency fell from 310 to 338 as acute shortage of the greenback lingered.

Forex dealers and experts expect the naira to fall further at the parallel market this week as demand for the greenback continues to soar.
“The situation has got to the point of hysteria now; everybody wants to hold dollars. So the demand is rising and piling up,” the Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu, said.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:26pm On Feb 12, 2016

PETERiCHY:
http://www.punchng.com/naira-falls-325-dollar-shortage/

N500 per USD is not far-fetched GOD answers prayer in diverse form.

Sai-Buhari

USD now N335

In Dec I made ascertion that people should invest in USD, AGRICULTURE, LAND and PROPERTY.

I repeat you can only invest your long term idle fund in the stock market because this year it will tank like never before.

He that has ears let him hear.
#backtovacationmode#

*ThE OcToPuS*

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 8:10am On Feb 12, 2016*

http://www.punchng.com/naira-falls-325-dollar-shortage/

N500 per USD is not far-fetched GOD answers prayer in diverse form.

Sai-Buhari grin

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 7:49am On Feb 11, 2016*

SMC:
You are a bit of a tosser. You sound like those ignorant Americans who blamed Obama for every little niggling issue after Bush had screwed up the economy. You can't even do decent sarcasm. Your constant whingeing and/or attempts at faux self-deprecation is cringe worthy. Might be best all round if you move from vacation mode to permanent exile mode.

I expect nothing less from a miserable old hag like you

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 8:56pm On Feb 10, 2016

Intendy:
chairman all u do is take everything political.
Are we talking of bankers confirmation here?
if you are not always happy with the Govt in power then do as Oba Akiolu as said.

So i shouldn't testify the good leveaage APC gov't is giving me and my household huh

During GEJ era $1000 dollars exchanges for us at an average of #200000naira now the same $1000 now exchanges for N315000naira and you wants us not to be happy for such wonderfully development.

Abeg anybody that's not happy with Buhari govt should relocate to lake Chad .

Sai-Buhari grin

2 Likes 1 Share

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 7:20pm On Feb 10, 2016

Intendy:
On the e-dmms just walk into your bank and tell them what you want
I.e you want to enrol for it.
NEVER go there asking them question if they have commenced it.
the big answer will be a straight no cause they need to devote their time to customers who they can charge now since this is still free.
but when charges begin to be applicable all will say theyve started.
I can confirm Diamond, fbnh,Uba ,Fcmb have started without charges.
will monitor other banks from tomorrow as well

This month FIDELITY BANK charged me N3150 for bankers comfirmation to First Registrar for all my pending OANDO dividends.

I'm really enjoying the APC change,back to vacation mode

*ThE OcToPuS*

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 10:58pm On Jan 27, 2016*

Oil settles at $32.30, up 21% from recent closing low http://www.cnbc.com/2016/01/26/us-crude-drops-over-3-percent-as-focus-back-on-supply.html

U.S crude settled up more than 21 percent above a multi-year closing low hit last week as Russia said it was discussing the possibility of co-operation with OPEC, fanning hopes that a deal was in the works to reduce oversupply that sent prices the lowest levels in a dozen years.

Oil futures briefly pared gains, falling in tandem with stock markets after the Federal Reserve left interest rates unchanged on Wednesday, but recovered heading into U.S. crude's settle.

Brent crude rose $1.34 to $33.14 a barrel by 2:36 p.m. ET, having hit a session high of $33.49.

U.S. crude futures settled up 85 cents at $32.30 a barrel, off a session peak of $32.84.

Reporting live from the Commercial Capital City LAGOS cool

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:12pm On Jan 21, 2016*

AkinadeDare:
@ Locodemy...You can express your opinion without necessarily calling anyone TOUT.

When you see a tout talk no need to argue with the person.

God bears me witness that i own a business in Alaba int'l mkt as early as 2001 and couple of days from now I will be in town.

The day that guy came up with the story that he suddenly went to alaba to buy tukumbo electronics with 500k.

And met some guys on the road and they drank pepper soup bla bla bla bla bla that was when I knew his type and i never quote he.

3 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 2:35pm On Jan 20, 2016*

Godisfaithful:
Abi naau sir. They should keep bringing essays and letter writing of the bear on how is changing gear while others are strategically making money
Look at my One and Only Sir Peterichy who enter Oando yesterday and making a kill today...Chai, Diaris God. The Voice of Jacob and the Hands of Esau...(Kidding)

That's called PATIENCE. let's roll it back to the normal N6 junction.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:27pm On Jan 19, 2016*

ihedioramma:
What of the 20 shares to one or 10 for one ? make we try to say truth were ever we are . Remember is one love . MERCYFUL.......

Bear in mind it was this same stock i sold #5:93k with little gain few week back.

So we better stick to what works for us.

As for those that resort to use of abusive words, i blame their parents for failing the responsibility to give them proper home training and as well pity their unborn children bcuz they can't give what they lack.

2 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 3:24pm On Jan 19, 2016

Godisfaithful:
So, Sir Peterichy, you have enter market today? Chai, Diaris God oooooooo

Remember, it is ONE LOVE!

Remember few months ago I promised you i will get it at N3:50k.

For the confused ones that don't know how the market works.

Oil price rose about 5% midway into trading thats what actually changed the market direction today.

Atleast after the deal was done its evident that i was still able to post the NEWS before close of trade.

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