maishai:
Officially according to online sources 550 million amounts to approximately 7 months salary

How, can you explain how the sale of less than 5% of his shares in Access Bank relates to the appropriation of his 7 months salary.

He got a total dividend of about N800 million based on his holdings from the bank in 2019

Mcy56:

Lol. What will he do with house again, this one must have gotten more than enough nah.

NB: you know you can actually modify your comment without necessarily quoting yourself. Check for "Modify" button below your comment, click it to amend the comment.

Could be to buy an Investment property that can fetch rental income of between N40 million to N60 million, which is not bad for the sake of diversification of his income streams

godlyguy:
WAPCO! WAPCO!! WAPCO!!! Oya join your mates NOW... FORWARDever

THE BIG SMART GUY

This very funny.

meshpips:
Hello everyone,

sometime last year, I made a statement about the possibility of using VWAP outside the intra - day purview. A few of the more "cerebral" members of this thread refuted my assertions and strongly so, saying that I know nothing about what I am doing.

Another member argued strongly that since I determine where to start and end my analysis, the results can be questioned.

I have often said that "time tells the whole story".

Today, I present to you Brian Shannon CMT, he created something called "anchored VWAP" which is in a way similar to what I told y'all last year about the usage of VWAP. Interestingly, the indicator is available for use on TC2000.

Maybe a few of you will like to tell Brian how useless his creation is but mind you . . . he is a Chartered Market Technician (CMT).

All the best guys!

Remember what I and OGG told you. While waiting for the VWAP low price, people must have used other tools to buy and sell between troughs and peaks. It is playing out now. Those who bought GTB at 25 could easily sell at 33 and your VWAP of 19 isn't even at sight.

Let's see where the next decline will send GTB and other banks to.

sellydion:
Where is our friend, Rabbideoracle hope you are still on standby waiting for Chibuking strategy

Madam, I don't think I rely on another person's strategy. I have mine that I have consistently monitored and I have reaped from it.

Now is time for me to keep cash. Now 80% cash holding.

ukay2:


I know madam. ..

Am just bargainingto buy more units @N9. ...am already in the bus..

UACN may surprise us with good dividend a and even bonus share....1 in 10....anything is possible with UACN


Loooooool

charts don't lie.

sellydion:
Where is our friend, Rabbideoracle hope you are still on standby waiting for Chibuking strategy

I have vowed to stop talking. Let others trade peacefully.

maishai:
[b]the amounts involved are insignificant, the persons involved are not average [/b]employees..................Emmanuel nnorom buying 5 million units of UCAP is chicken change for someone of his status.............There has to be another motive for him buying

It's a matter of compliance.
The rule book didnt state that it must be significant before it can be reported.
It is an international practise.
I witness a lot of it in the US market.

RabbiDoracle:


Madam, I don't think I rely on another person's strategy. I have mine that I have consistently monitored and I have reaped from it.

Now is time for me to keep cash. Now 80% cash holding.

When do you intend to go back to market Sir?

RabbiDoracle:


charts don't lie.

Please Sir, what is the chart showing now?

RabbiDoracle:


Madam, I don't think I rely on another person's strategy. I have mine that I have consistently monitored and I have reaped from it.

Now is time for me to keep cash. Now 80% cash holding.

I'm also waiting. Though, you exited earlier than I did. Gives me total control and peace of mind.
Your contributions are appreciated.

emmanuelewumi:


How, can you explain how the sale of less than 5% of his shares in Access Bank relates to the appropriation of his 7 months salary.

He got a total dividend of about N800 million based on his holdings from the bank in 2019

rushed to type in gibberish too early, a blog once came up about CEOs take home pay, and it puts wigwes annual pay at #80million, This should amount to approximately 7 years remuneration..... I mistook for monthly take home pay...............................................................Choi See Wigwe O

emmanuelewumi:


How, can you explain how the sale of less than 5% of his shares in Access Bank relates to the appropriation of his 7 months salary.

He got a total dividend of about N800 million based on his holdings from the bank in 2019

I will keep track of this and by Year end I will Total what Wigwe has made from his holdings .......With the sale of 55 million unit at current price...... I believe he doesnt want to fall short of what he made last year from his holdings

Though I am bullish
The data is saying CAUTION
Reasons:
1) Headwind cloud resistance on the weekly which was rejected this week
2) RSI appears to be divergent from price movement on the daily (a second opinion is welcomed here)

The new week needs momentum, else we may be headed for a flat market (dividend may have been priced in already) before a dip to the second bottom.

Disclosure; I have no buying or selling stake in the short term.
My UACN is for Q2

maishai:
I will keep track of this and by Year end I will Total what Wigwe has made from his holdings .......With the sale of 55 million unit at current price...... I believe he doesnt want to fall short of what he made last year from his holdings

What he made trading his shares or his dividends. He bought good units of Diamond shares at N1.00, while denying there was no planned merger between Access Bank and Diamond Bank

Agbalowomeri:
Though I am bullish
The data is saying CAUTION
Reasons:
1) Headwind cloud resistance on the weekly which was rejected this week
2) RSI appears to be divergent from price movement on the daily (a second opinion is welcomed here)

The new week needs momentum, else we may be headed for a flat market (dividend may have been priced in already) before a dip to the second bottom.

Disclosure; I have no buying or selling stake in the short term.
My UACN is for Q2

CP, FXUSER, BBM Agba has just scheduled a board meeting for you. We await the outcome.
Agba and Oracle must stay out of the meeting venue.......

NSE Trading Summary for Friday 17 January 2020:

BULLS MAINTAIN MOMENTUM
Trading activities closed the week green. NSE All-Share Index and market capitalization appreciated 0.91% & 0.79% to close at 29,618.52 basis point & N15.26 trn respectively.

Overall year-to-date return = 10.34%.

UBA led the volume log with 65.74 million units followed by ACCESS with 47.47m and ZENITHBANK with 38.28m units. ZENITHBANK led the value chart with N844.89m followed by UBA with N584.80m and ACCESS with N495.53m.

CBN official exchange rate closed N306.90/$; Investors & Exporters FX rate closed at N361.84/$, while the parallel market rate closed N362/$.

At time of writing this report (4:40 pm), Brent Crude was being traded $64.78/p/b in the international commodities market.

ACTIVITY LEVELS
Total volume of 324.97m units of stocks worth N3.55b was exchanged in 4,175 deals. Financial Services Sector accounted for 71.20% of total volume traded (73.14% of value), Industrial Goods accounted for 7.66% of total volume (18.34% of value) while the ICT Sector accounted for 7.20% of volume (3.43% of value traded).

MARKET BREADTH CLOSED NEGATIVE
Advancers/Decliners ratio = 0.81x (negative for the day) with 13 gainers and 16 losers.

CORNERST led the gainers' chart with an increase of 7.41% to close at N0.58. It was followed by UACN and ACCESS which gained 7.00% and 4.35% to close N10.70 and N10.80 respectively. Decliners' log was led by GOLDBREW which lost 8.99% to close N0.81. In the same vein, OMATEK and CHIPLC shed 8.89% and 7.69% to close the day at N0.41 and N0.36 respectively.

OUTLOOK FOR NEXT WEEK
Next week, we expect positive real return amidst continued depressed fixed income yields; also attractive dividend yield should drive market performance.

We are of the opinion that investors and fund managers will continue to take advantage of cheaper valuations of stocks that are underpriced, as they rebalance their portfolios. We advise investors to review their positions in line with investment goal/strength of the company numbers and act as events unfold in the global and domestic environment. However, we would like to reiterate that investors go for equities with good fundamentals and intrinsic values.

DISCLAIMER
The info, opinions and recommendations contained herein are and must be construed solely as statements of opinion and not statements of fact. No warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such recommendation or information is given or made by Arthur Stevens Asset Management Ltd in any form or manner whatsoever.

SOURCE (abridged): Arthur Stevens Asset Management Ltd

If the speculation about Herbert Wigwe selling 55m shares of his Access bank holding is any thing to go by, this could be the reason: They just acquired Transnational Bank Plc in Kenya.

This also may have informed the Board's decision to postpone the closed period which would have made it impossible for this acquisition to be completed.

https://www.capitalfm.co.ke/business/2020/01/access-bank-nigeria-gains-full-acquisition-of-transnational-bank/

Agbalowomeri:
Though I am bullish
The data is saying CAUTION
Reasons:
1) Headwind cloud resistance on the weekly which was rejected this week
2) RSI appears to be divergent from price movement on the daily (a second opinion is welcomed here)

The new week needs momentum, else we may be headed for a flat market (dividend may have been priced in already) before a dip to the second bottom.

Disclosure; I have no buying or selling stake in the short term.
My UACN is for Q2

But the RSI line is pointing in the same direction as the candlesticks in the chart. How do you mean divergent sir? Please I'm learning oo

Union Bank Sells N20bn Commercial Paper to Pension Managers, Others
https://businesspost.ng/banking/union-bank-sells-n20bn-commercial-paper-to-pension-managers-others/

Naira Gains at I&E, Loses at BDC, Trades Flat at Interbank, Black Markets
https://businesspost.ng/economy/naira-gains-at-ie-loses-at-bdc-trades-flat-at-interbank-black-markets/

Oil Extends Rally as OPEC Assures Positive Demand Growth
https://businesspost.ng/economy/oil-extends-rally-as-opec-assures-positive-demand-growth/

emmanuelewumi:


How, can you explain how the sale of less than 5% of his shares in Access Bank relates to the appropriation of his 7 months salary.

He got a total dividend of about N800 million based on his holdings from the bank in 2019

Sir, I am trying to get a grip on this biz. I noticed that some stocks have very low turnover, for example Conoil turnover for yesterday was 37000 naira only.

Does it mean that people are hording or that people dont fancy it for now? I don't see how the later is possible as the the stock price would have dropped.

By d way, Conoil looks like a great company to own shares in with their last dividend at 150 kobo per stock. I see potential too as regards to its value of 20 naira.

ositadima1:


Sir, I am trying to get a grip on this biz. I noticed that some stocks have very low turnover, for example Conoil turnover for yesterday was 37000 naira only.

Does it mean that people are hording or that people dont fancy it for now? I don't see how the later is possible as the the stock price would have dropped.

By d way, Conoil looks like a great company to own shares in with their last dividend at 150 kobo per stock. I see potential too as regards to its value of 20 naira.

Not a liquid stock, the chairman Mike Adenuga has about 90% of the shares and he doesn't trade his shares, the remaining 10% shares are owned by old shareholders who are retirees. Retirees hardly trade, the dividends from the stocks will take care of their expenses.

But Conoil is consistent with dividend payments.

Bikaa27:


But the RSI line is pointing in the same direction as the candlesticks in the chart. How do you mean divergent sir? Please I'm learning oo

Not at the same rate for the new price uptick
Price almost making a new high but RSI is somewhat lagging behind
Not very clearly formed though

Agbalowomeri:
Though I am bullish
The data is saying CAUTION
Reasons:
1) Headwind cloud resistance on the weekly which was rejected this week
2) RSI appears to be divergent from price movement on the daily (a second opinion is welcomed here)

The new week needs momentum, else we may be headed for a flat market (dividend may have been priced in already) before a dip to the second bottom.

Disclosure; I have no buying or selling stake in the short term.
My UACN is for Q2

This is a true definition of "LET me COME and be GOING"

You said you are bullish = Encouragement

Your Data says Caution = Discouragement

Your UACN is for Q2 = I am not trading right now

I can bet my last kobo that you have sold and left the market too.

I pity those you are deceiving.

Ekuu UACN ooo

Cadillac15:


This is a true definition of "LET me COME and be GOING"

You said you are bullish = Encouragement

Your Data says Caution = Discouragement

Your UACN is for Q2 = I am not trading right now

I can bet my last kobo that you have sold and left the market too.

I pity those you are deceiving.

Ekuu UACN ooo

Paranoia gets you nowhere jare
My portfolio is only roughly 50% up
Needs additional 150%

Agbalowomeri:
Though I am bullish
The data is saying CAUTION
Reasons:
1) Headwind cloud resistance on the weekly which was rejected this week
2) RSI appears to be divergent from price movement on the daily (a second opinion is welcomed here)

The new week needs momentum, else we may be headed for a flat market (dividend may have been priced in already) before a dip to the second bottom.

Disclosure; I have no buying or selling stake in the short term.
My UACN is for Q2

Your head don dey align with my 'basic' tool. From Caution, you will soon enter Hold cash.

I no go talk.

Let me aid you again. Look at UACN and WAPCO with the same tool.

OakPearl:
If the speculation about Herbert Wigwe selling 55m shares of his Access bank holding is any thing to go by, this could be the reason: They just acquired Transnational Bank Plc in Kenya.

This also may have informed the Board's decision to postpone the closed period which would have made it impossible for this acquisition to be completed.

https://www.capitalfm.co.ke/business/2020/01/access-bank-nigeria-gains-full-acquisition-of-transnational-bank/

So he used his funds to acquire another bank.

Ekuu ise.

Bikaa27:


But the RSI line is pointing in the same direction as the candlesticks in the chart. How do you mean divergent sir? Please I'm learning oo

That was why he put a caveat there that the new week needs a bullish momentum.

He knows what he saw. The double top he laughed at me when I mentioned is what he is seeing now. Something that other tools had already pointed at before it happened.

Las las, all of us go dey well.

Cadillac15:


This is a true definition of "LET me COME and be GOING"

You said you are bullish = Encouragement

Your Data says Caution = Discouragement

Your UACN is for Q2 = I am not trading right now

I can bet my last kobo that you have sold and left the market too.

I pity those you are deceiving.

Ekuu UACN ooo

RabbiDoracle:


Your head don dey align with my 'basic' tool. From Caution, you will soon enter Hold cash.

I no go talk.

Let me aid you again. Look at UACN and WAPCO with the same tool.

First the new week will clarify
A second bottom on the monthly is still within the bullish pattern if it happens
Whichever way, the market is gonna be bullish in the medium term
UACN run is independent of the general market outlook and we all know why
So holding cash is out of the picture