Born2berich:
Your are right... Oando vs B2BR have been fighting for years. That's why the tag #jokeoftheyear has been trending here for about 3years now.. I only do so to warn other investors From making the same mistake as I did.
People should be wary of FCMB and FBNH as they are the major financiers of COP deal... If oando is in trouble they are likely to be affected.
My humble thoughts

And if they are not?. thank's for the info but you people dont talk about FO, FO is going down oooo km 20 .

I hope those people clamoring for devaluation are happy. They've helped increased the complexity within and created more problems for our financial system. Because of the devaluation, banks will witness more problems because of their exposure to and servicing foreign loans. Government will have similar challenges, servicing foreign debt. Inflation and interest rate will continue to trend higher. How do you build a manufacturing economy when interest rate and inflation are above 15%. How do you grow the economy in the wake of all these crisis. I don't know if I should blame the federal government or blame CBN governor for incompetence.

I am yet to see the positive impact of devaluation on our economy. We are still losing more jobs than we are creating. The stock market is still loosing money.

I hope these speculators (bastards) are happy...

stocks with new 52 weeks low
Vitafoam #3.59k
Sterling bank #1.35k
Forte oil # 163.13k
Skye bank #0.73k
No new high.

courage89:
I hope those people clamoring for devaluation are happy. They've helped increased the complexity within and created more problems for our financial system. Because of the devaluation, banks will witness more problems because of their exposure to and servicing foreign loans. Government will have similar challenges, servicing foreign debt. Inflation and interest rate will continue to trend higher. How do you build a manufacturing economy when interest rate and inflation are above 15%. How do you grow the economy in the wake of all these crisis. I don't know if I should blame the federal government or blame CBN governor for incompetence.

I am yet to see the positive impact of devaluation on our economy. We are still losing more jobs than we are creating. The stock market is still loosing money.

I hope these speculators (bastards) are happy...

Blame it on Peterichy

Intendy:
stocks with new 52 weeks low

Vitafoam #3.59k

Sterling bank #1.35k

Forte oil # 163.13k

Skye bank #0.73k

No new high.

Forte oil 163? Damn! Early this year the share price was about 340naira.
Forte plc share increased from 9 naira in 2012 to 342 in dec 2015, thats why it has been regarded as Lord in the stock market because it defies 9ja market principle. While the market be going south, its prices went up, sending femi otedola name back into the FOrbes list radar.......... Damn, That's over 50% drop, damn! ...........Investing in the oil sector is deadly! I swear

courage89:
I hope those people clamoring for devaluation are happy. They've helped increased the complexity within and created more problems for our financial system. Because of the devaluation, banks will witness more problems because of their exposure to and servicing foreign loans. Government will have similar challenges, servicing foreign debt. Inflation and interest rate will continue to trend higher. How do you build a manufacturing economy when interest rate and inflation are above 15%. How do you grow the economy in the wake of all these crisis. I don't know if I should blame the federal government or blame CBN governor for incompetence.

I am yet to see the positive impact of devaluation on our economy. We are still losing more jobs than we are creating. The stock market is still loosing money.

I hope these speculators (bastards) are happy...

not true bro regarding Government....Government are the biggest gainers when it comes to devaluation. This was why I often told people that if Buhari refused to devalue the naira , he shouldn't be criticised because his govt would benefit much from it. So he refusing it means starving his govt of possible wealth.
Govt still export oil which can be used to servive debt plus selling 1 barrel of oil means extra money when brought back to nigeria because the dollar exchange rate is higher. Investors wanting to leave 9ja will need to part with more naira, gifting the govt more money. Mehn the advantage for them is humongous. I dnt see why you say govt will find it hard, they are the biggest gainers in the devaluation game

davide470:
AMCON has filed a suit against MRS Holdings (the parent company of MRS Oil Nigeria Plc) seeking to force the company into compulsory liquidation due to a NGN81bn loan owed to AMCON.

Chai lemme start fasting and prayer for my guy

Chukzyfcb:
not true bro regarding Government....Government are the biggest gainers when it comes to devaluation. This was why I often told people that if Buhari refused to devalue the naira , he shouldn't be criticised because his govt would benefit much from it. So he refusing it means starving his govt of possible wealth.
Govt still export oil which can be used to servive debt plus selling 1 barrel of oil means extra money when brought back to nigeria because the dollar exchange rate is higher. Investors wanting to leave 9ja will need to part with more naira, gifting the govt more money. Mehn the advantage for them is humongous. I dnt see why you say govt will find it hard, they are the biggest gainers in the devaluation game

What of FGN servicing external debts in dollars??

ukay2:



What of FGN servicing external debts in dollars??

Devaluation according to my own knowledge has little or nothing to do with external debts. External debts has close ties with government export earnings, which in our case is OIL. The only way Govt will find it hard in servicing external debts is if its foreign exchange earning decreases (Ie decrease in Oil prodduction which is our major commodity for forex) so once again bro, devaluation has lil or nothing to do with paying external debts

What stocks do we consider for short to medium term?

Is ucap and uba good @ current price?

Chukzyfcb:
not true bro regarding Government....Government are the biggest gainers when it comes to devaluation. This was why I often told people that if Buhari refused to devalue the naira , he shouldn't be criticised because his govt would benefit much from it. So he refusing it means starving his govt of possible wealth.
Govt still export oil which can be used to servive debt plus selling 1 barrel of oil means extra money when brought back to nigeria because the dollar exchange rate is higher. Investors wanting to leave 9ja will need to part with more naira, gifting the govt more money. Mehn the advantage for them is humongous. I dnt see why you say govt will find it hard, they are the biggest gainers in the devaluation game

I agree that they will have more naira conversion...this should provide more naira cash flow to meet wages and other naira liabilities. My argument lies in the foreign denomination debt on government books. The northward trajectory of this debt has been a source of concerns even before devaluation. It's like we just compound our problems with devaluation.

Chukzyfcb:

Devaluation according to my own knowledge has little or nothing to do with external debts. External debts has close ties with government export earnings, which in our case is OIL. The only way Govt will find it hard in servicing external debts is if its foreign exchange earning decreases (Ie decrease in Oil prodduction which is our major commodity for forex) so once again bro, devaluation has lil or nothing to do with paying external debts

Don't forget that our budget is quoted in naira. Debt servicing has to be accounted for in the budget in naira, and later converted to foreign currency equivalent.

courage89:


I agree that they will have more naira conversion...this should provide more naira cash flow to meet wages and other naira liabilities. My argument lies in the foreign denomination debt on government books. The northward trajectory of this debt has been a source of concerns even before devaluation. It's like we just compound our problems with devaluation.

I still maintain my stance bro. The upward trajectory of our debt has been because of reduced revenue. Oil price reduced by 50% so funding budget will be tough, that's why people suppprted devaluation. In devaluation govt can make up for the loss of revenue from Oil price. Currently 1barrel of Oil trades for $49 & we export bout 1.9-2.3million barrels per day whereas the 2016 Budget projections say we need 2.2million barrels & a price of $38 per barrel. So as you can see we are even doing better than the projections, with the profit from devaluation it means we should even meet the demands. Don't forget our GDP-Debt ratio according to kemi adeosun is among the lowest in the world, so it gives them more leverage to borrow more

eipreel:

Chai lemme start fasting and prayer for my guy

He will be fine.

This is just Initial gra-gra..

Chukzyfcb:

I still maintain my stance bro. The upward trajectory of our debt has been because of reduced revenue. Oil price reduced by 50% so funding budget will be tough, that's why people suppprted devaluation. In devaluation govt can make up for the loss of revenue from Oil price. Currently 1barrel of Oil trades for $49 & we export bout 1.9-2.3million barrels per day whereas the 2016 Budget projections say we need 2.2million barrels & a price of $38 per barrel. So as you can see we are even doing better than the projections, with the profit from devaluation it means we should even meet the demands. Don't forget our GDP-Debt ratio according to kemi adeosun is among the lowest in the world, so it gives them more leverage to borrow more

Based on the federal government's 2016 budget, they proposed to spend about ~1.5 trillion naira to service our debt. I'm not exactly sure of the breakdown of the debt, what is local or foreign. My point is that at the end of the day, we will spend more than 1.5 trillion to service our debt. The dollar denomination part will have to be adjusted based on devaluation.

People,
What did i miss? i could not monitor the market today, plenty work.

Just reviewing it now, IMO. i think UBA is warming up oh, three Jodi in 4 trading days, last call oh, we are driving out straight to KM 6.

Tigerbrand - Trading sideways for a while now, shows resistance/support around 4.60 ish band . na one thing go break am out.

FBNH, SKYE BANKS. Going south men at least for this week. OandO type weak result will most likely safe FBNHs free fall.

FO plc. its overdue, after dividend and bonus, its finding its real value.

Lets see who among the Banks will relase result first. ( just to prove that they are ok and not like skye)

Gnite.

TOMORROW'S TRADING is expected to be GREEN all the way until FRIDAY... YOU are free to sell your appreciated stocks then check back on MONDAY to consider buying more equities... I advice the newbies to STAY CLEAR EQUITIES with technicalities this month!

THE BIG SMART GUY

''Caution goes out to traders who have a windfall day. The markets can serve up heaping portions of humble pie cooked in a variety of ways'' - PB

https://www.nairaland.com/3221978/amcon-wind-up-mrs-holdings

Watching Oando carefully

'' A trading truth: When you're right, you never have enough on. When you're wrong, your position is always too big. ''

- SIGH

'' Sometimes no position is the best position. A compulsion to trade leads to disaster. ''

#NoteToSelf

Why much fuss about MRS. ABi them wan tell say the result they posted isn't real after paying dividend consistently since 2012

OBAGADAFFI:
https://www.nairaland.com/3221978/amcon-wind-up-mrs-holdings

Watching Oando carefully

A reality of trading -- A trader always has too much size on when wrong, too little on when right.

#UrNotAlone

let them free the Skye o for the birds to fly

http://nairametrics.com/from-bad-to-worse-sp-says-skye-bank-could-default-in-6-months/

fxuser:


transcorp 21m full bid , no offer still
vol traded 27m

this market ehn . .

Don't joke with a stock with STRONG fundamental.

davide470:
AMCON has filed a suit against MRS Holdings (the parent company of MRS Oil Nigeria Plc) seeking to force the company into compulsory liquidation due to a NGN81bn loan owed to AMCON.

http://investadvocate.com.ng/2016/07/12/mrs-placed-review-following-latest-court-filing-amcon/

so no alternative way of resolving this, like O&O's

Thunderlicious:


Blame it on Peterichy

https://www.nairaland.com/3222479/buhari-appoints-hadiza-usman-npa

We foresee the future and strictly warned them about General BUBU but they kept chanting CHANGE! CHANGE!!.

Well this a tip of the iceberg just 1year down and 3 or 8more years to go.

So let's sit tight and enjoy the CHANGE, those that areant comfortable can relocate to BENIN REPUBLIC or LAKE CHAD.

As for me and my household we are enjoying this CHANGE big time.

*ThE OcToPuS*

PETERiCHY:


https://www.nairaland.com/3222479/buhari-appoints-hadiza-usman-npa

We foresee the future and strictly warned them about General BUBU but they kept chanting CHANGE! CHANGE!!.

Well this a tip of the iceberg just 1year down and 3 or 8more years to go.

So let's sit tight and enjoy the CHANGE, those that areant comfortable can relocate to BENIN REPUBLIC or LAKE CHAD.

As for me and my household we are enjoying this CHANGE big time.

*ThE OcToPuS*

What does the HEADLINE AND THE STORY IN IT has to do with change and chains as you mentioned?i am suspecting you are a teenager or you are not a mature man.

locodemy:


What does the HEADLINE AND THE STORY IN IT has to do with change and chains as you mentioned?i am suspecting you are a teenager or you are not a mature man.

You messed up. If you'd just ignored him, his post would've just fizzed into oblivion without even a notice. Now he'll want to come back and reply you with his childishness.

fxuser:

'' Sometimes no position is the best position. A compulsion to trade leads to disaster. ''

#NoteToSelf

A sensible trader never risks more than 2% of his equity on any one trade." Alexander Elder

#TimeToTakeStocks

PENGASSAN has called off the strike. Will FO take the bull by the horn?