olujaidi:
Dear House, I'd like some clarity on something.

I succeeded in buying shares of Nestle at 930. However, the daily price list for the day of my purchase shows that the intra-day high was 901 which is way less than how much I paid. Is wuru wuru going on or am I misunderstanding something?

Please assist.

if the day's high was 901, where did 930 came from? Maybe it was crossed...

UBA on fire!!!!!!!!!!

@mcy56....where u go? Missed ur update..

olujaidi:
Dear House, I'd like some clarity on something.

I succeeded in buying shares of Nestle at 930. However, the daily price list for the day of my purchase shows that the intra-day high was 901 which is way less than how much I paid. Is wuru wuru going on or am I misunderstanding something?
Please assist.

There's no wuru wuru there.
The 901 intra-day that was showing was a significant volume moved for that day........while people must have still bought at amount higher or lower than that.

The closing price would now be the last 100k single unit moved......and if there wasn't any 100k, it would end up on same price as previous.

dapix:
UBA on fire!!!!!!!!!!

I reentered the UBA shares at 21.50 as I knew it was a temporary opportunity

olujaidi:
Dear House, I'd like some clarity on something.

I succeeded in buying shares of Nestle at 930. However, the daily price list for the day of my purchase shows that the intra-day high was 901 which is way less than how much I paid. Is wuru wuru going on or am I misunderstanding something?

Please assist.

The system might have treated your entry as spike!

megawealth01:
Time ticking for Unity Bank as it projects a N20.7 billion loss

https://nairametrics.com/2024/03/12/unity-bank-projects-loss-of-n20-7-billion-in-q2-2024/

The report was for Q2, I even thought it's for Q4....
Merger discussion was mentioned there (With Providus Bank as we've learnt), no update yet on this.

yMcy56:

The report was for Q2, I even thought it's for Q4....
Merger discussion was mentioned there (With Providus Bank as we've learnt), no update yet on this.

Can providus bank afford to take in 400b plus in negative retained earnings and the impact it will have on their equity? There are few banks that can afford that. Except that value of -N400b+ negative retained earnings in the article is erroneous. Me, I no dey look that kind stock.

AccessBank's Trade Volume is quite high today.

yMcy56:

There's no wuru wuru there.
The 901 intra-day that was showing was a significant volume moved for that day........while people must have still bought at amount higher or lower than that.

The closing price would now be the last 100k single unit moved......and if there wasn't any 100k, it would end up on same price as previous.

Thank you for your response. Please educate me further.

So, the last 100k units traded determine the closing price if I understand you.
The interface showed the last quantity traded at the time I purchased was 50 units at a price of 901. The best bid price at the time was 901 and the best offer price was 901. I assume the prices at the time would have reflected the quantities traded as at then.

olujaidi:
So, the last 100k units traded determine the closing price if I understand you.
The interface showed the last quantity traded at the time I purchased was 50 units at a price of 901. The best bid price at the time was 901 and the best offer price was 901. I assume the prices at the time would have reflected the quantities traded as at then.

YES! The last 100k (or above) in a single trade/cross deal determines the closing price for a trading day.

Intra-day high or low is normally determined by the 100k single bid moved during a trading session and if there's none, both low and high will still reflect the previous closing price.

For instance:
* Closing price for GTCO yesterday was N43 (which also happened to be opening price for today)
* If during today's session, 100k+ is moved @46.80; another lower 100k+ is moved @42.25...
*Then, the lowest for today will be 42.25 while the highest will be 46.80....
* If the last 100k moved is @46.50, then the closing price will be 46.50

** Now if someone happens to pick 30k units @40 intra-day, it won't reflect as the day's low!
Or it's picked @47.20, it won't reflect as highest for the day (if closing price doesn't reach this price).

DrAkpamudehe:


I reentered the UBA shares at 21.50 as I knew it was a temporary opportunity

Lucky you. Many bottom price seekers saw it but rather than dive in, they were waiting for bigger bottom.

This year's dividend payments may be chop and clean mouth, meaning prices may recover a day or two after mark down. Watch out

iHaveMadeiT2:

Bottom price seekers saw it but rather than dive in, they were waiting for bigger bottom.

This year's dividend payments may be chop and clean mouth, meaning prices may recover a day or two after mark down. Watch out

Please explain more... price may recover a day or 2 after Mark down

Kwibaba:


Please explain more... price may recover a day or 2 after Mark down

I was wondering if that was a typo. Awaiting the explanation too

Please, am i the only one who could not do anything reasonable on the meritrade trading platform today?

yMcy56:

YES! The last 100k (or above) in a single trade/cross deal determines the closing price for a trading day.

Intra-day high or low is normally determined by the 100k single bid moved during a trading session and if there's none, both low and high will still reflect the previous closing price.

For instance:
* Closing price for GTCO yesterday was N43 (which also happened to be opening price for today)
* If during today's session, 100k+ is moved @46.80; another lower 100k+ is moved @42.25...
*Then, the lowest for today will be 42.25 while the highest will be 46.80....
* If the last 100k moved is @46.50, then the closing price will be 46.50
** Now if someone happens to pick 30k units @40 intra-day, it won't reflect as the day's low!
Or it's picked @47.20, it won't reflect as highest for the day (if closing price doesn't reach this price).

Enlightening. Thank you for your time and knowledge

iHaveMadeiT2:

Lucky you. Many bottom price seekers saw it but rather than dive in, they were waiting for bigger bottom.

This year's dividend payments may be chop and clean mouth, meaning prices may recover a day or two after mark down. Watch out

My oga with dollars/garri says it is when dumping and the bear he has been prophesying will likely start 'lol I am waiting to see if he will get it right this time.

Some of us saw the grave rubber price on sugar and uba ....na cash come be the problem. Though I picked afolabi units in sugar @46.10 to continue average up of my sugar

JB looks the forex loss no go reach your side for our dividend. Wonder what you are cooking for two straight days now.I am waiting as sugar no give us anything oh

chillykelly86:
I decided to write this epistle this morning:

I started investing in stocks while in university, around the time of the banking sector consolidation (2004-06). There was a very helpful forum then, stockmarketnigeria.com (SMN for short) and I used to frequent it. Due to the lessons and regular updates from that forum, my major stockbroking manager then actually confessed that my account had better returns than his. That's not the crux of this post. I was only trying to point out that his perception of me as a better portfolio manager didn't have much to do with my expertise as it had to do with my association with the distinguished members of that forum.

There was one occasion I asked for clarification on an issue from one of the Ogas in the forum and his response was a surprising rebuff. I didn't remember offending anyone at all on that forum and not this Oga in particular. However, following conversations shed light on his disposition: apparently someone or some persons who followed his opinion to trade and lost came back at him. So he probably decided to refrain from airing his views or even offering any tips since no one was paying him in the first place. I think that or similar occurrences are what led to the common disclaimers that follow expository posts here. That Oga's contributions were valuable to the forum as well as those of other Ogas. If any of them chose to recoil into their shell, it may not be obvious immediately but on the long run, you would have poorer arguments and a generally narrower perspective. And who loses more? The Oga or the newbies?

I told this story to buttress my assertion and, if we read and interpret well, the assertion of many of our Ogas in this forum, that the broader the perspectives, the better for all of us.

The growing norm, here, of calling out people who are proved by the market to have been on the wrong side of arguments after every bull or bear run is, to say the least, shortsighted, ill-informed and dangerous for this forum. In fact, like in my case then, its the newbies that will still suffer it because the older folks generally know how to synthesize market-relevant information from posts and marry with the information they already have to arrive at their positions. While nobody can claim to predict market direction correctly 100% of the time, the more relevant information you factor into your decisions, the better your chances of being right. (Just to add too: the longer your timeframe, the more likely you are to make correct decisions too: this is why its agreed that long term investments are generally less risky than short-term investments).

So, we must resist the urge to criticize and talk down anyone either because their opinion does not allign with ours or we think they are not in touch with reality, especially if its with the benefit of hindsight. The ideal thing to do is to put in your submission(s) and point out why you think their submission is irrelevant or not too relevant. In the end, we are all here to learn from one another and the larger the pool of knowledge, the better for us all.

God bless you all

I thought to refresh our memories. I also use this medium to appeal to all our Ogas who may have refrained from making inputs about stocks to please reconsider, for the sake of the innocent ones. Your inputs are invaluable.

The Breweries present a falling knife phenomenon.
What does it mean to ‘catch a falling knife’ in trading?

There’s a saying on the trading floor in Chicago and I’m sure it was on other trading floors: “Don’t add to a loser”. That was always considered completely taboo.

You’ll also hear it called: “Catching a falling knife” in some circles. I know people who are constantly averaging down to better prices in stocks and commodities.

Some commodities are down 44% on the year and continue to fall and some people are saying: well, ‘X’ commodity is constantly in deficit, so I’ll average down to a better price.” They’re catching a falling knife and if you can visualize that, it’s not a good thing to do.

Not many people know this, but when a stock or an asset or a commodity makes a low, it’s more likely to make another low, statistically, than for it to stop at that point and turn around.

Mankind2024:
The Breweries present a falling knife phenomenon.
What does it mean to ‘catch a falling knife’ in trading?

There’s a saying on the trading floor in Chicago and I’m sure it was on other trading floors: “Don’t add to a loser”. That was always considered completely taboo.

You’ll also hear it called: “Catching a falling knife” in some circles. I know people who are constantly averaging down to better prices in stocks and commodities.

Some commodities are down 44% on the year and continue to fall and some people are saying: well, ‘X’ commodity is constantly in deficit, so I’ll average down to a better price.” They’re catching a falling knife and if you can visualize that, it’s not a good thing to do.

Not many people know this, but when a stock or an asset or a commodity makes a low, it’s more likely to make another low, statistically, than for it to stop at that point and turn around.

This is where you need TA to time your entry

Money does a lot to people. It is not news that we have lots of millionaires (and decimal billionaires on this platform).
One thing that unifies us is humanity: we are all humans first before we make (or acquire) money

I joined this platform sometime in November 2023 and some members took me for an old user with a new moniker while quite a few thought I was a newbie to stock trading.
Undeterred, I continued dropping the little I know while picking up a few doses of knowledge on the way

Anyway, I have come to realize that you can neither know it all nor have it all.
If you hold on to knowledge/information (which should benefit many), it is not as useful as when it is shared.

The fact that this platform is faceless should be a good thing but...

There's a very slim probability of catching the knife without getting hurt...

Mankind2024:
The Breweries present a falling knife phenomenon.
What does it mean to ‘catch a falling knife’ in trading?

There’s a saying on the trading floor in Chicago and I’m sure it was on other trading floors: “Don’t add to a loser”. That was always considered completely taboo.

You’ll also hear it called: “Catching a falling knife” in some circles. I know people who are constantly averaging down to better prices in stocks and commodities.

Some commodities are down 44% on the year and continue to fall and some people are saying: well, ‘X’ commodity is constantly in deficit, so I’ll average down to a better price.” They’re catching a falling knife and if you can visualize that, it’s not a good thing to do.

Not many people know this, but when a stock or an asset or a commodity makes a low, it’s more likely to make another low, statistically, than for it to stop at that point and turn around.

Mankind2024:
The Breweries present a falling knife phenomenon.
What does it mean to ‘catch a falling knife’ in trading?

There’s a saying on the trading floor in Chicago and I’m sure it was on other trading floors: “Don’t add to a loser”. That was always considered completely taboo.

You’ll also hear it called: “Catching a falling knife” in some circles. I know people who are constantly averaging down to better prices in stocks and commodities.

Some commodities are down 44% on the year and continue to fall and some people are saying: well, ‘X’ commodity is constantly in deficit, so I’ll average down to a better price.” They’re catching a falling knife and if you can visualize that, it’s not a good thing to do.

Not many people know this, but when a stock or an asset or a commodity makes a low, it’s more likely to make another low, statistically, than for it to stop at that point and turn around.

In my own strategy, I neither average up nor down. Averaging up and down is, to me, a form of falling in love with a stock and that is very dangerous. All I do is just buy as many liquid and at least fundamentally or sentimentally sound stocks which in offers are drying up and bids mounting at prices above the previous closing day's, then take a seat and watch them. No matter what 7 out of ten of them will reverse upwards in at most 4 trading days.

Agbalowomeri:


This is where you need TA to time your entry

My oga on a serious note not pulling your leg.Help with TA on I B.I know the bad management has finished the FA..I want to make decisions based on my BE if it touches thr again.

Deadlytruth:

In my own strategy, I neither average up nor down. Averaging up and down is, to me, a form of falling in love with a stock and that is very dangerous. All I do is just buy as many liquid and at least fundamentally or sentimentally sound stocks which in offers are drying up and bids mounting at prices above the previous closing day's, then take a seat and watch them. No matter what 7 out of ten of them will reverse upwards in at most 4 trading days.

Are you a trader or investor so I can understand your angle as per averaging up or down

After reading the pyramid of challenges, I could not hold back than to appreciate all the participants in this forum.
Kudos 👏 2 u all.
Here is the pyramid

You currently need N2000.00 for food from someone who needs N20,000.00, to fix his car and he is looking up to his friend who needsN200,000.00 for his business and he is asking it from his brother who needs N2M to complete his house. His Brother is in turn asking the bank credit manager for a financing of N20M to execute a government tender contract of which the same Nigeria 🇳🇬 government is requesting for a loan of $800M from World Bank.

https://www.reuters.com/world/africa/nigerias-tinubu-seeks-lawmakers-approval-800-million-world-bank-loan-2023-07-13/

Everyone got problems!
The N2000.00 you are getting from someone is out of sacrifice and love ❤️.
Appreciate it!😂

chillykelly86:


I thought to refresh our memories. I also use this medium to appeal to all our Ogas who may have refrained from making inputs about stocks to please reconsider, for the sake of the innocent ones. Your inputs are invaluable.

I am guilty of some of what you wrote.The truth is i do it not believing anyone will take it to heart or personal. I see this place as faceless place whr you owe no one explanation. Therefore it should not make you feel bad not to post or share your view.Oga, nobody is paying you so you no suppose send any one massage. This is my street mentality. But if any member felt my post has made him uncomfortable... I am truly sorry.
I take all post here without any emotion or sentiments attached believing that is how my post equally should be seen.
I nodey drag land or woman with you so why I go vex with your post that I will refrain from posting....say watin happen.
The only thing I will not take is insult direct or indirect. To me,you are stupid and are you stupid means the same...nothing like polite insult

Streetinvestor2:
My oga with dollars/garri.....

This got me LMAO
Na big people dey drink garri now.......see Dollars and garri in same sentence......

KarlTom:
Money does a lot to people. It is not news that we have lots of millionaires (and decimal billionaires on this platform).
One thing that unifies us is humanity: we are all humans first before we make (or acquire) money

I joined this platform sometime in November 2023 and some members took me for an old user with a new moniker while quite a few thought I was a newbie to stock trading.
Undeterred, I continued dropping the little I know while picking up a few doses of knowledge on the way

Anyway, I have come to realize that you can neither know it all nor have it all.
If you hold on to knowledge/information (which should benefit many), it is not as useful as when it is shared.

The fact that this platform is faceless should be a good thing but...

Boss, please I'm a newbie and I don't have good knowledge about stock but i want to invest, please can you help put me through?

Kwibaba:
Please explain more... price may recover a day or 2 after Mark down

This is what he probably meant....
For instance:
* As dividend of 0.45k was declared by AFRIPRUD
Qualification Date is 15th March, 2024
Ex-Div date/the date it will be marked down/deducted from the share price will be following trading day.......in this case, Monday 18th March
* After deduction, if there's bull in the Market or positive sentiment around the stock, then the share price will appreciate back faster within few days instead of falling much lower.

** This is my Pry school explanations.
** The professional Ogas can use professional terms to explain this better if they so wish.

Streetinvestor2:
Are you a trader or investor so I can understand your angle as per averaging up or down

Trader