MoneyMakingOppo:
Does anyone here trade Penny stocks?

Yes Boss. You may start with Dunlop shares. I can cross a sizeable quantity to you at a good discount.

mendes911:


Policy somersault as in they will soon reverse this once they realize how stupid it is. Let's keep watching.

But FPI's are mean. I swear!

Those FPI understand the game very well, they don't want to get caught.

Agbalowomeri:
It appears some dollar restrictions on the horizon

There is high probability this is what is driving the market

not with the rumour on the street (on FCY deposit) that the CBN had to quickly (on a non working day i.e. Sunday) dispel (via a non traditional media tool for a regulator i.e. twitter).

That shows the desperacy of the regulator (CBN) and it seems the FPI are rather buying the rumour than the CBN explanation.

if u add above to the BDC end also being strained (went as low as 367.5 during last week) then u cant really blame the FPI for believing the rumour

The major option the CBN can use to counter the rumour is apparently not available to it (i.e. to flood the market with USD) due to shrinking reserve.

As it is the FI (NSE) space run might continue until the CBN can CONVINCINGLY assuage the market (FPI) that devaluation is not on the table (at least for now)


N.B. Personally im convince that devaluation is not on the table (at least short term - 30 - 90 days) but my opinion does not count plus the FPI that are not convinced surely see more than me cos they are institutionally, though they are also in MOST CASES hysterical and i think this is one of such occasion.

mendes911:


They always start with restrictions before the final devaluation.

Banks can't sell FX to you and you can't transfer international what you deposited yourself.

Policy somersault in Nigeria. Counter productive.

boss i dont think this is true " Banks can't sell FX to you"

but this is true "can't transfer international what you deposited yourself"


However for the one that is true i dont think the major aim was for restriction of USD, the aim realy was curb laundering

But the timing (when reserve are falling) is totally wrong plus the fact that CBN is overeaching itself by policing the laundering and not leaving same to EFCC. Hence i somehow agree that the policy might be reversed.

The FPI not get joy at all. the are soulless and play without emotions

ndidigood:
Nothing wee l never see and hear for hia today
Una wan kill me with laff

Na so e dey be once price start to fall for NSE. By Wednesday, if price trend persist, or tomorrow sef, people go begin fight for NSEMPA. Normal, normal.

CashDiMkpa:


Na so e dey be once price start to fall for NSE. By Wednesday, if price trend persist, or tomorrow sef, people go begin fight for NSEMPA. Normal, normal.

This your monicker...na die

CashDiMkpa:


Na so e dey be once price start to fall for NSE. By Wednesday, if price trend persist, or tomorrow sef, people go begin fight for NSEMPA. Normal, normal.

l pray I nogo persist I no easy

This is a fundamental question.
What if the number of shares that company quotes as outstanding shares are fake. What if there is continuous supply being brought to the market in collusion with the regulatory authority.
Is there any way this can be detected and verified?

Seunn11:
This is a fundamental question.
What if the number of shares that company quotes as outstanding shares are fake. What if there is continuous supply being brought to the market in collusion with the regulatory authority.
Is there any way this can be detected and verified?

Outstanding shares of a company cannot be fake. The number of shares are registered by SEC and also admitted by NSE for trading (for listed companies)

The outstanding shares are used in determining EPS of the companies, companies like Stanbic IBTC and Nigeria brewery that have DRIP ( Dividend Reinvestment Program) whenever new shares are issued through the DRIP, the additional shares are registered by SEC and also admitted by NSE

Seunn11:
This is a fundamental question.
What if the number of shares that company quotes as outstanding shares are fake. What if there is continuous supply being brought to the market in collusion with the regulatory authority.
Is there any way this can be detected and verified?

This bear don do u strong thing o.
Abi, y you dey ask this kain question now.
See woundjurement.
Abi na alcohol?!

locodemy:
Arhhh.Wapco wey officially closed @14.80

It was intraday and non of the volume was up to 100k block. Still closed 15.50.

owoblow77:

This bear don do u strong thing o.
Abi, y you dey ask this kain question now.
See woundjurement.
Abi na alcohol?!

Me sef tire for the hangover

owoblow77:

This bear don do u strong thing o.
Abi, y you dey ask this kain question now.
See woundjurement.
Abi na alcohol?!

Wear your helmet before any confrontation.

Nsempa no get bandage o

MoneyMakingOppo:
Does anyone here trade Penny stocks?

Be careful of penny stocks for now.
Which ones are you looking at btw?

Mcy56:

It was intraday and non of the volume was up to 100k block. Still closed 15.50.

Sister,If it is 100k block volume you need to decide closing price,you will see it tomorrow.

Infact take away #1.00 from the 14.80 and the balance is tomorrow's closing price.

locodemy:


Sister,If it is 100k block volume you need to decide closing price,you will see it tomorrow.

Infact take away #1.00 from the 14.80 and the balance is tomorrow's closing price.

I like u sha but u too dey boast

So far, no one has got explanation for today's dumping?
The blood shed was beyond assumptions, anyone with near-certain info should pls share it here on time so we can know what's up.

Yes, when people like that miss it. they crash terribly

Calebbold:


I like u sha but u too dey boast

locodemy:
Sister,If it is 100k block volume you need to decide closing price,you will see it tomorrow.

Infact take away #1.00 from the 14.80 and the balance is tomorrow's closing price.

Loco you get wahala o, Peter will not like this.
I just told you what happend nah. It was dumped up to 14.80 but still closed 15.50.

Loco, Peter go trample on anyone wey no commot for road inside Wapco first thing tomorrow. Chai! Hunter became Hunted
JIJO gone wrong.

Mcy56:

Loco you get wahala o, Peter will not like this.
I just told you what happend nah. It was dumped up to 14.80 but still closed 15.50.

Since I managed to jump out of fcmb without profit but no loss,Arhh e no go easy for any stock that wants to appear defensive.

Uacn later got it's own hair cut today.

Make Gtb no carry table for head tomorrow be say there is peace and recovery.

Yes, Closeeeeeed @ 15.50

Mcy56:

Loco you get wahala o, Peter will not like this.
I just told you what happend nah. It was dumped up to 14.80 but still closed 15.50.

Mcy56:
Loco, Peter go trample on anyone wey no commot for road inside Wapco first thing tomorrow. Chai! Hunter became Hunted
JIJO gone wrong.

Peter wey they Don already slaughter,na his suya meat you go see tomorrow.

locodemy:
Since I managed to jump out of fcmb without profit but no loss,Arhh e no go easy for any stock that wants to appear defensive.
Uacn later got it's own hair cut today.
Make Gtb no carry table for head tomorrow be say there is peace and recovery.

But you know this is NSE nah, things may change overnight. We are still not sure of whatever caused today's dumping.
Maybe we will get the info before market commence tomorrow.

locodemy:
Peter wey they Don already slaughter,na his suya meat you go see tomorrow.

Chai!! Peter is coming for you.
....but do you think he would have waited when Wapco went below N15? I don't think so. He must have sold already.

Mcy56:

But you know this is NSE nah, things may change overnight. We are still not sure of whatever caused today's dumping.
Maybe we will get the info before market commence tomorrow.

Better clear for road and ask the question.
You see 10% traders food on the table and you no see the bulldozer Dem carry for hand.

Mcy56:

But you know this is NSE nah, things may change overnight. We are still not sure of whatever caused today's dumping.
Maybe we will get the info before market commence tomorrow.

You no see dow and brent ni
More or less global

Mcy56:

Chai!! Peter is coming for you.
....but do you think he would have waited when Wapco went below N15? I don't think so. He must have sold already.

Sell ke...Peter can't still understand what happened today.

sellydion:
https://www.investing.com/news/stock-market-news/dow-nosedives-900-points-at-open-as-pandemic-fears-spur-mass-selling-2092310

Ok. Saw this now.
Na wa o. NSE is just too volatile.
Think people needs to start re-strategizing now. One minute everything is fine, the next minute, pandemonium. No stability anywhere again.

sellydion:
https://www.investing.com/news/stock-market-news/dow-nosedives-900-points-at-open-as-pandemic-fears-spur-mass-selling-2092310

Its glaring... Local investors may shut their eyes to what's happening on the global stage but foreign investors won't. And as long as they hold a sizeable percentage of stocks on NSE, when they sneeze, NSE catches cold.

Let's trust that good news around this outbreak will come forth soon

Mcy56:

Chai!! Peter is coming for you.
....but do you think he would have waited when Wapco went below N15? I don't think so. He must have sold already.

Wapco is one of the stocks on my radar 24/7.If Peter claims he sold today,he will tell me which of the blocks sold that belongs to him.

Peter never go anywhere.This time around I hold him for gborokos(mkpuru amu)