₦airaland Forum

Ahmed Idris, Accountant-General of the Federation (AGF), has been exposed, as the Academic Staff Union of Universities (ASUU) uncovered his multi-billion naira properties in Kano.

Prof. Lawan Abubakar, ASUU’s Bauchi zone coordinator, in a statement, asked the AGF to explain how he bought Sokoto Hotel in Kano at the sum of N500 million and ordered its immediate demolition to build a multi-billion naira shopping mall. According to Abubakar, the project is ongoing.

The ASUU coordinator also asked the AGF to account for the money he used in acquiring a multi-billion naira Gezawa Commodity Market and Exchange. “We would want Gentlemen of the Press to assist in the conduct of 2 Investigations. First is to uncover who bought the version of Sokoto Hotel in Kano with a whopping sum of N500m, cash down, and demolished it the next day for the on-going development of a multi-billion Naira Shopping Mall. How and where did he or she get money for such investment?

“The second assignment is to assist uncover who is hiding to invest multi-billion Naira in the Gezawa Commodity Market and Exchange. How and where did he or she get money for such investment?” the statement read.

SOURCE: https://newsrand.com/2020/11/20/accountant-generals-multi-billion-naira-properties-uncovered/

Sony Corp, the maker of top-selling video game, PlayStation 5 (PS5) console, has launched its long-awaited console amid COVID-19 pandemic and reportedly sold out on the first day of its launch, according to a report credited to Reuters. This sell-out is based on the bias that a lot of people are spending more time at home playing games due to the COVID-19 onslaught reducing social mobility globally.

Sony had earlier launched a website for its PS5 sales in order to maintain social distancing, calling for it to “be safe, stay home, and place your order online,”

WHAT YOU SHOULD KNOW
Sony’s next-generation console retails $400 without a disk-drive and $500 with a hard drive option. It recorded impressive sales at its home country – Japan, which in some cases had to conduct lotteries to distribute the limited consoles. The high demand console PS5, provides cutting-edge graphics, faster uploading times, and a better-designed controller with incredible feedback, which has attracted a high influx of gamers.

Sony Corporation is a Japanese multi-national company that produces communications, key devices, and information technology products audio, home video game consoles, for the consumer and professional markets. The Company’s other businesses include music, pictures, computer entertainment, and online businesses.

SOURCE: https://nairametrics.com/2020/11/12/sony-playstation-5-sold-out-hours-after-launch/

Bandits holding 6 Assistant Superintendents of Police captive in Katsina State for over one week are demanding N100m ransom for their release. PUNCH gathered that the ASPs were among 9 who were just promoted to their current rank. They were attached to the Mobile Police Squadron 6, Maiduguri, Borno State.

Findings on Wednesday indicated they were demobilised from the riot unit and 8 of them were on their way to Zamfara State Police Command on transfer when they were ambushed in Dogondaji area of Katsina State and taken into the forest. A reliable police source explained that the 9 ASPs were planning to go to Zamfara State together but one of them changed his mind at the last minute while the others embarked on the trip in a commercial bus.

On getting to Kano, the driver was said to have asked them to join another vehicle as his bus had developed a fault. The source said, “When they were released to go to Zamfara, they scheduled a day for the trip from Maiduguri, but one of them said he wasn’t comfortable with the trip and declined to join them. He said he had something to do and promised to join them in Zamfara later.

“So, the 8 others left, but on getting to Kano, the driver said he couldn’t continue the journey to Zamfara, because his vehicle had developed a fault. They joined another vehicle and on their way around Dongodaji in Katsina State, the bandits accosted and kidnapped them. While being taken away, 2 of them escaped and one was shot in the leg though he didn’t die. He found himself at a village and the villagers took him to a police station and he was taken to a hospital. The other 6 officers are still with the bandits who are demanding N100m ransom.”

A senior police officer said the Commander, Mopol 6, could not account for the men when asked about their abduction, adding that he referred inquiries on the missing men to the Zamfara State Police Command. The officer explained that the normal procedure was for the commander to send a signal to the Zamfara command informing it that he had released the 9 ASPs, but he allegedly failed to follow the official procedure.

The source stated, “The problem came from the Commander, Mopol 6, their former squadron leader, who released them on transfer to Zamfara. He was supposed to relay the information on the kidnap incident, but he said he didn’t know about it when he was asked; instead, he referred inquiries to the Zamfara State Police Command. The commander should have sent a signal that the men had been released to go to Zamfara, but he didn’t do that. Normally, the Zamfara command would send a signal to Borno confirming the men had resumed.”

Findings indicated that families of the missing police officers were anxious about the safety of their breadwinners following the N100m ransom demanded by the bandits. It was learnt the families were attempting to raise N3m for the release of the captives or N500,000 each. Force spokesman, DCP Frank Mba, had yet to respond to inquiries on the incident as he did not respond to calls and SMS sent to his mobile telephone as of time of filing this report.

When contacted by one of our correspondents, one of the officers who escaped from the abductors, said he was too weak to recount the incident. “I have high BP (blood pressure); I just came back from a check-up. I cannot remember everything now. The incident happened on Sunday along Katsina-Gusau Road,” he simply said.

PRO Borno State Police Command, DSP Edet Okon, said there was no reported case of policemen from the command being abducted, adding that the alleged victims were no longer serving at the command because they had been transferred. “Borno State Police Command has not received any signal in respect of her officers being abducted. The alleged abduction of officers is still unknown to us as we have yet to receive any alert on the matter. That is the official position of the command as of this moment,” Okon stated.

When one of our correspondents visited the Mopol 6 base in Maiduguri, he observed that police personnel were overwhelmed by the kidnap of their colleagues, which came weeks after some of their men were killed and several others injured during an attack on the convoy of the Borno State Governor, Prof. Babagana Zulum. The mood in the barracks was very sober with little or no activity going on except a few anti-riot policemen in uniform clustered in groups obviously discussing the incident.

It was gathered that some personnel of the command were recently attacked at the Bama LGA of the state and the latest development had dampened the morale of the policemen. PUNCH did not see women and children in the barracks except a few at the market square. Except for the command headquarters, where some cops were sighted sitting under trees and in other strategic locations, the entire barracks, which houses a police training college, state police command and Mopol 6 base, was scanty.

AIR FORCE BOMBS BANDITS’ CAMP, KILLS SCORES
Meanwhile, the Nigerian Air Force, on Tuesday, launched a major offensive against bandits along Abuja-Kaduna Expressway, killing many of them in their camp. The operation followed intelligence reports indicating a cluster of huts and other structures at the location served as hideouts for a notorious bandits’ leader, ‘Major’, and his fighters.

The Defence Headquarters explained that 6 NAF aircraft undertaking 5 missions in a total of 13 sorties carried out a dawn raid on the cluster of huts. This is coming 24 hours after bandits killed 5 persons and kidnapped 10 others on the road.

Eight students of the Ahmadu Bello University, Zaria, were also abducted by bandits. They were among the 300 French Language students travelling to Lagos for a programme at the Nigerian French Language Village. Their abductors reportedly demanded N30m ransom on each of them.

Disclosing the development in a statement titled, ‘Operation Thunder Strike: Land and air components clear bandits’ camp along Abuja-Kaduna Expressway’, on Wednesday, the Coordinator, Defence Media Operations, Maj. Gen. John Enenche, said the raid cleared the Kuku area of the Kagarko Local Government Area of bandits.

It said, “The first wave of the air component’s air strikes, which involved 6 Nigerian Air Force aircraft undertaking 5 missions in a total of 13 sorties, commenced at dawn and targeted the cluster of huts housing ‘Major.’ The attack aircraft hit some of the target structures and neutralised some of the bandits.

“The second wave of attacks was executed by NAF helicopter gunships, which while continuing to engage the bandits’ location, also provided close air support to the land component as they advanced from Kagarko via Kuku into the bandits’ enclave. This paved the way for ground troops to overrun and destroy the camp without effective resistance from the bandits.”

DHQ further explained that a NAF Intelligence, Surveillance and Reconnaissance aircraft provided situational awareness for the troops throughout the operation. The military high command commended the troops for their professionalism and urged them to remain resolute in the conduct of operations against the bandits.

BANDITS AMBUSH, KILL 3 VIGILANTES IN KADUNA
Some bandits reportedly ambushed members of Kaduna State Vigilance Service at Dande village on their way from Damba-Kasaya in Chikun LGA of the state and killed 3 members of the outfit. It was gathered that members of the vigilance service had gone to Dande village on patrol when the incident happened on Tuesday.

Similarly, bandits on Tuesday opened fire on motorists on the access road to the nation’s foremost military university, the Nigerian Defence Academy, in Igabi LGA of Kaduna State. However, troops responded and repelled the bandits, according to the state Commissioner for Internal Security and Home Affairs, Mr Samuel Aruwan, who made the confirmation in a statement on Wednesday.

The statement titled: ‘Kaduna loses 3 vigilantes, El-Rufai commends troops for neutralising bandits, destroying camps’, identified the slain security personnel as Alison Musa, Dauda Audu and Ishaya Sarki, while Ayuba Tanko and Doza Adamu sustained injuries.

The statement read in part, “The Kaduna State Vigilance Service has informed the Kaduna State Government that the service lost 3 personnel on Tuesday night in the Chikun LGA. According to the service, bandits ambushed the personnel at Dande village on their way from Damba-Kasaya in the Buruku general area.”

Governor Nasir El-Rufai was said to have commiserated with families of the victims and prayed for repose of their souls, while wishing those who sustained injuries speedy recovery, the statement added. According to the statement, the governor also commended land and air troops of the Operation Thunder Strike for a successful operation in the Kuku area, off the Kaduna-Abuja Road.

The statement said, “The governor said he received with gratitude information that the first air strikes hit some of the target structures and neutralised some of the bandits, while the second wave of attacks was executed by Nigerian Air Force helicopter gunships, which provided close air support to troops on the ground as they advanced from Kagarko via Kuku into the bandits’ enclave.

“Similarly, bandits on Tuesday opened fire on motorists close to the Nigerian Defence Academy’s access road in the Igabi LGA. Troops responded and repelled the bandits. Citizens will continue to be informed of the security situation. The government appeals for vigilance and prompt reporting of suspicious movements and activities to security agencies.”

SOURCE (abridged): https://punchng.com/bandits-demand-n100m-for-six-asps-in-katsina-kidnappers-den/

Academic Staff Union of Universities (ASUU), has told students and their parents not to expect the lingering strike of its members to end soon. In same vein, the union advised varsity lecturers across the country to seek alternative means of survival, as it has no intention to put the strike on hold anytime soon.

While accusing the President Muhammadu Buhari-led government of not showing commitment in resolving the issues that necessitated the ongoing industrial action, Abuja Zonal Coordinator, ASUU, Prof. Theophilus Lagi, vowed on behalf of the union that the strike will remain a continuum until the government bowed to its demands.

His words: “Today, we wish to let Nigerians, especially our students and parents know that there is no hope in sight to ending or suspending the ASUU strike that has lingered for several months as government is yet to show serious commitment towards addressing our core demands. Our members have been advised to seek other legitimate means of survival as government has not released salaries withheld since February 2020.’’

Newsrand understands that the FG and ASUU have been at loggerheads over usage of the Integrated Payroll and Personnel Information System (IPPIS) for lecturers’ salary payments. While ASUU has been insisting that under no account would it adopt IPPIS for its members, government has since been maintaining that it’s either the IPPIS or no salary payments for them, hence the industrial action.

In what seemed to be that the FG wss considering bowing to pressure, about a week ago, it asked ASUU to transit to IPPIS pending when the union’s proposed University Transparency Accountability Solution (UTAS) would be ready for use. Reacting to the proposal, ASUU President, Prof Biodun Ogunyemi said there was no need to transit to IPPIS since UTAS could be ready in at most 3 weeks if the government was sincere.

SOURCE: https://newsrand.com/2020/11/18/strike-ASUU-has-a-message-for-parents-students/

Onions among the most cultivated vegetables across the globe. But flooding in the north and upsurge in demand within Nigeria over the past months coupled with biting shortage in production has sent its price skyrocketing - so much so that many have likened the crop to gold.

Salad, jollof rice, tomato stew, yam porridge, beans, name it! There’s just too much we now cook with onions that food lovers don’t mind spending a fortune to have it in their meals — even as prices continue to hit the roof. Beyond culinary obsession with the vegetable, not many consider its health benefits and nutritional value.

Onion is a good source of vitamins, minerals, and fiber. Its vitamin C component helps in general tissue repair. It also functions as an antioxidant, improves iron absorption, and boosts immunity. Onion is a source of the vitamin B complex group like pantothenic acid, pyridoxine, folate, and thiamine which plays an important role in neurosis.

1. THE HEART
Onion contains quercetin and sulphur compounds that protect against heart disease. The anti-inflammatory properties of Quercetin lowers risk of heart disease and high blood pressure. A study in 70 obese people with high BP found that a dose of 162 mg per day quercetin rich onion extracts significantly reduced systolic BP by 3-6 mm Hg.

Studies have also shown intake of quercetin rich onion decreased bad cholesterol and high triglycerides level. In turn, the sulfur compounds in onion act as a natural blood thinner, thereby preventing platelets from clotting.

ANTI-CARCINOGENE
In 2019, a study in the Asia Pacific Journal of Clinical Oncology compared 833 people with colorectal cancer with another 833 people who didn’t have it. Researchers found the risk of colorectal cancer was 79% lower in those who regularly consumed allium vegetables such as onions, hence their benefits for the prevention of cancer.

2. SKIN AND HAIR
As a good source of vitamin C, experts say onions support building and maintenance of collagen, which provides structure to skin and hair. In a 2018 study, researchers created an onion shampoo. When tested on the study subjects, they concluded that it nourished their hair follicles, moisturized dry hair, and aided hair growth.

3. BLOOD SUGAR
Multiple studies have shown eating onions may help control blood sugar, which is significant for people with diabetes or prediabetes. One study involving 42 people with type 2 diabetes showed that eating 3.5 ounces (100 grams) of fresh red onion reduced fasting blood sugar levels by about 40 mg/dl after four hours. Specific compounds like quercetin and sulfur components found in the vegetable possess antidiabetic effects.

4.DIGESTIVE HEALTH
Fiber and prebiotics are some components onions offer. Studies have established their role in maintaining optimal gut health. Prebiotics are broken down by gut bacteria to create short-chain fatty acids like acetate, propionate, and butyrate. These can strengthen gut health, boost immunity, reduce inflammation, and also enhance digestion.

SOURCE (abridged): https://lifestyle.thecable.ng/eat-me-five-reasons-onion-is-a-necessity-in-nigerian-diet/

Three feared dead, shops looted as hoodlums clash in Lagos

No fewer than 3 persons have been feared dead after hoodlums clashed in some parts of Mushin and Surulere areas of Lagos State. PUNCH Metro learnt the fight, which started around 8pm Sunday between two groups at a party on Alaafia Street, extended to neighbouring streets in the area.

The fight, which extended till Monday, was said to be a supremacy battle between the factions. Among the affected streets were Daniel, Alafia, Morgan, Babalola, Sowunmi and Olusoga. Our correspondent learnt the fight left many injured, while over 200 shops were looted and many vehicles destroyed.

An eyewitness, who spoke on condition of anonymity, said the absence of security agents made the miscreants to have a field day. He said, “The fight started around 8pm yesterday (Sunday) between two groups fighting for supremacy on Alaafia Street and it extended to other streets. The hoodlums destroyed many things during the fight; over 200 shops were looted, while many vehicles were destroyed.

“The police could not quickly come to the scene because of what happened during the #EndSARS protest. The police area commander had to follow the local government chairman, who came to call for calm. But immediately they left, the hoodlums resumed their fight, leaving many people injured.”

It was gathered that policemen from Area D Command, Itire, Aguda and Surulere were mobilised to the areas. State Police Public Relations Officer, Muyiwa Adejobi, said no casualties were recorded in the fight, adding that 12 suspects had been arrested. He said, “No causality was recorded during the fight among some gangsters in the Mushin area of Lagos State. Twelve of them have been arrested, while normalcy has been restored in the area.

“The CP has deployed more police operatives to the area to beef up security. We will continue to monitor the situation.”

SOURCE: https://punchng.com/three-feared-dead-shops-looted-as-hoodlums-clash-in-lagos/

samzepaparazi:
should we still be expecting january bull like this

In view of the recent market rally, many NSE participants and onlookers have been asking if current price levels are justified and if the bullish trend will continue.

Let's consider some salient factors:

A. POSITIVE SIDE - BULLISH EFFECT
1. Treasury Bill and OMO rates: Very low (below 2% p/a); part of the maturing funds will continue to enter the stock market.
2. FPI vs Locals ratio: Uncharacteristically, recent rally is majorly from locals.
3. PFA & corporates: Hunting for better returns, entering the stock market.
4. Local investors: Gradually building up interest in the stock market.
5. Fundamentals: Some companies' share prices are still clearly undervalued e.g. even at N40 per share, Zenith Bank would still have a projected dividend yield of 7% at year end.
6. Long term investors: Many of the local and corporate investors are buying majorly blue-chips, for the long term.
7. Extraneous factors: e.g. Covid-19 vaccine discovery is bullish for healthcare companies, imminent completion of Dangote petrochemicals refinery is bullish for oil and gas companies, etc.

B. NEGATIVE SIDE - BEARISH EFFECT
1. Delayed results, esp. FUGAZ: This makes short-termers nervous, and may precipitate profit-taking.
2. December effect: A lot of people raise money for Christmas/ new year expenses late Nov and early Dec.
3. Year End book-keeping: Some corporates sell down to prepare for 31st Dec closing of their books.
4. Speculators/ Hot money: Many of those entering the market are only hunting short term gains. They will quickly panic and sell at the slightest sign of price reversals.

Overall, I believe our market bull still has some steam left.

See attached data of 5 year Price Range vs Dividend Yields, for some companies....

LIMITATION OF MACD
One of the main problems with divergence is that it can often signal a possible reversal but then no actual reversal actually happens—it produces a false positive. The other problem is that divergence doesn't forecast all reversals. In other words, it predicts too many reversals that don't occur and not enough real price reversals. 

"False positive" divergence often occurs when the price of an asset moves sideways, such as in a range or triangle pattern following a trend. A slowdown in the momentum—sideways movement or slow trending movement—of the price will cause the MACD to pull away from its prior extremes and gravitate toward the zero lines even in the absence of a true reversal.

MACD VS. RELATIVE STRENGTH
The relative strength indicator (RSI) aims to signal whether a market is considered overbought or oversold in relation to recent price levels. RSI is an oscillator that calculates average price gains and losses over a given period of time; the default time period is 14 periods with values bounded from 0 to 100.

MACD measures relationship between two EMAs, while RSI measures price change in relation to recent price highs and lows. These two indicators are often used together to provide analysts a more complete technical picture of a market.

These indicators both measure momentum in a market, but, because they measure different factors, they sometimes give contrary indications. For example, RSI may show a reading above 70 for a sustained period of time, indicating a market is overextended to the buy side in relation to recent prices, while the MACD indicates the market is still increasing in buying momentum. Either indicator may signal an upcoming trend change by showing divergence from price (price continues higher while the indicator turns lower, or vice versa).

MACD is often displayed with a histogram (see the chart below) which graphs the distance between the MACD and its signal line. If the MACD is above the signal line, the histogram will be above the MACD’s baseline. If the MACD is below its signal line, the histogram will be below the MACD’s baseline. Traders use the MACD’s histogram to identify when bullish or bearish momentum is high.

When deciding on which company/shares/securities are best to invest in, there are 2 basic approaches used by Analysts:

A. TECHNICAL ANALYSIS - which focuses on charts and price movements.
B. FUNDAMENTAL ANALYSIS - which focuses on the intrinsic value of the company.

In Technical Analysis, there are various indicators used to determine/predict likely price movements. One of these is the Moving Average Convergence Divergence (MACD).

WHAT IS MOVING AVERAGE CONVERGENCE DIVERGENCE (MACD)?
It is a trend-following momentum indicator that shows relationship between two moving averages of a security’s price.

MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. It has a positive value when the 12-period EMA (blue) is above the 26-period EMA (red) and a negative value when the 12-period EMA is below the 26-period EMA.

The result of that calculation is the MACD line. A nine-day EMA of the MACD called the "signal line," is then plotted on top of the MACD line, which can function as a trigger for buy and sell signals. Traders may buy the security when the MACD crosses above its signal line and sell (or short) the security when the MACD crosses below the signal line. MACD indicators can be interpreted in several ways, but the more common methods are crossovers, divergences, and rapid rises/falls.

The more distant the MACD is above or below its baseline indicates that distance between the two EMAs is growing. In the following chart, you can see how the two EMAs applied to the price chart correspond to the MACD (blue) crossing above or below its baseline (red dashed) in the indicator below the price chart.

Our thought for this week centers on FAMILY and RELATIONSHIPS.

Do you understand what is meant by the attached...?

Please explain.

The Federal Government on Friday inaugurated the National Centre for Artificial Intelligence and Robotics. Minister of Communications and Digital Economy, Isa Pantami, who inaugurated the centre in Abuja, said the inauguration was in line with the digital skills acquisition drive of government as captured in the National Economic Development Policy and Strategy.

He said the centre was the first of its kind in Nigeria and was implemented by the National Information Technology Development Agency based on its mandate. He said, “The global paradigm shift from mere paper qualifications to proven skills, particularly digital skills, has necessitated establishment of a high tech skill acquisition centre such as this.

“The centre will serve as a leading hub of innovation, research and development, knowledge transfer and training in the areas of artificial intelligence, robotics and other emerging technologies. In addition, the centre will create a vision for AI, develop an AI ecosystem, support data stewardship, while providing access to specialised technical skills in the country.”

Director-General, NITDA, Kashifu Inuwa, urged Nigerian youths to take advantage of the initiatives and strategies deployed by government to empower themselves. He said the centre was fully equipped with training facilities, 3D printers, co-working space for start-ups, a digital innovation laboratory, maker-space and fabrication laboratory infrastructure.

Other facilities in the centre include printed circuit boards, as Inuwa stated that the centre was housing the offices of the Massachusetts Institute of Technology Regional Entrepreneurship Acceleration Programme. He said the centre also housed the Office for ICT Innovation and Entrepreneurship, NITDA’s subsidiary arm for Innovation.

SOURCE: https://punchng.com/fg-inaugurates-robotics-artificial-intelligence-centre/

Bursar of the Rufus Giwa Polytechnic, Owo, Ondo State, Mr Adejuwon Matthew, escaped being kidnapped by some gunmen along Akure Expressway at Upenmen area of Owo, as the car in which he was travelling was attacked by the hoodlums. The bandits waylaid the Poly boss on the bad portion of the road and made an attempt to stop him. As he failed to stop, the bandits were said to have opened fire on the car but he escaped.

Confirming the incident, PRO of the Polytechnic, Mr Samuel Ojo, said the bursar left the campus after the closing hour in the evening and headed for Akungba-Akoko in Akoko South-West LGA of the state when the incident happened.

He said, “While on his way along Waterworks/Upenmen on Owo-Akungba-Akoko Road, some Fulani herdsmen crossed the highway with their cattle to stop oncoming vehicles. But the official driver of the bursar was able to manoeuvre through before the cattle could cover the entire highway. Suddenly, they heard gunshots from the supposed herdsmen, which impaled the bursar’s car. But they unbelievably escaped being hit by the bullets.”

The Police PRO, Mr Tee-Leo Ikoro, said he was not aware of the attack, adding that the matter was not reported at any police station.

SOURCE (abridged): https://punchng.com/ondo-poly-bursar-escapes-kidnap-hoodlums-vandalise-car/

Agbalowomeri:
Everything is written in the charts
It is healthy, otherwise we don enter ololo

The charts are good. However, the 2-week RSI (Relative Strength Index) of the NSE has risen above 96 as at yesterday, technically indicating "engine overheating" - since RSI of 70 is the nominal sell signal for Technical Traders.

Nonetheless, there are reasons to believe this bull trend is not yet over:
1. For any bull trend to be sustainable, there must be some intermittent pullbacks. Today is likely one of them.
2. Uncharacteristically, the current bull is not majorly due to influx of FPIs (Foreign Portfolio Investors), but mainly from local corporates (e.g. PFAs) and diversions from govt securities (e.g. TBs) due to crash in discount rates.
3. Every sustained bull trend draws in some "curious onlookers" who catch the hype and also rush in. For our current bull trend, this is just starting.
4. Whereas some poorly performing tickers have also gained from the bull, some fundamentally sound names are still clearly underpriced, with quite some steam in reserve e.g. Zenith Bank, with estimated year end total dividend circa N2.80, is trading at a clear discount. In fact, if Zenith hits N40 per share, it would still have a dividend yield of 7%, far above all money market investments.
5. etc

IN CONCLUSION:
A. Medium to long-term investors should not be worried, as long as they are holding fundamentally sound stocks. However, if the bull becomes sustained, you may choose to gradually take partial profit, with the aim of later re-entering at lower price.
B. For short-termers/ speculators/JIJO-ists, you MUST keep wide awake. Keep tracking these indicators for your portfolio, and quickly move out/in as requisite:
-- Moving averages.
-- MACD (Moving Average Convergence Divergence).
-- RSI (Relative Strength Index)
-- OBV (On-Balance Volume).

For those seeking stock recommendations, see the attached from ARM Investment.

MY CAVEATS:
1. This was as at 6th November, which means prices have already changed. Due diligence is advised!
2. Yesterday, the NSE achieved the globally highest return of 6.23% for 12Nov2020. This was also the best single day performance of the NSE in the last 5 years. The surge in the All-Share Index was so fast that the NSE circuit-breaker had to be activated at 12:55 pm, for the first time since year 2016.
3. Of course, some stocks are still undervalued, but many are now overbought. Even stocks with poor fundamentals and bad results are now rising.
4. The 2-week RSI (Relative Strength Index) of the NSE is now about 96. Any RSI above 70 is usually taken as a sell signal by Technical traders.

CONCLUSIONS
A. "Hot" money has invaded the NSE and prices are now rising primarily on sentiment.
B. If you are a medium to long-term investor, stick to companies with good fundamentals and take partial profit on your portfolio as prices continue to rise.
C. If you are a short-term investor, this is not the time to sleep. Buy fundamentally good and liquid stocks and watch your portfolio (and the charts) like a hawk. Once your target is met, don't be greedy - hit the sell button!
D. For the Methuselahs in the house, I salute you! Remember year 2008? Similar conditions have started building up in our market...

Taciturn1:
Okay thanks. The All Share Index, in simple terms means?

Circuit breakers are electrical devices, unless there exists also, stock circuits, I find it's usage in stock exchange, very strange.

The "All-Share Index" is a series of numbers showing the changing average value of share prices of all companies on a stock exchange.

It is used as a measure of how well a market is performing. When prices are continuously rising it is called a "Bullish" trend and when prices are continuously dropping it is called a "Bearish" trend. The idea behind this is from the animal kingdom: bulls are supposedly very bold while bears are timid.

On the term "circuit-breaker", you are correct; the term was borrowed from the field of electrical engineering; a circuit breaker is an automatic device for stopping flow of current in an electric circuit as a safety measure.

In a stock market or stock exchange, a "circuit breaker" is an automatic rule for stopping share trading as a safety measure, in the occurrence of an "extreme" event. On the Nigerian Stock Exchange, any rise or drop of more than 5% in the All-Share Index (during a trading day) constitutes such an extreme event.

Krisuba:
What actually happened. How was d circuit broken. And what did it imply.?? Regarding this bull?

Here is the explanation for the NSE circuit breaker:

https://www.nairaland.com/6252741/what-nse-circuit-breaker-why

Enudapan:
Nah eh! No qualms
This is so unsophisticated

Someone should read explain nd summarize

Here is the explanation for the NSE circuit breaker:
https://www.nairaland.com/6252741/what-nse-circuit-breaker-why

Taciturn1:
Any economist in the house?

Here is the explanation for the NSE circuit breaker:
https://www.nairaland.com/6252741/what-nse-circuit-breaker-why

Benesis:
Hw many people understand this one sef, may someone summarize hw e go take affect us

Here is the explanation for the NSE circuit breaker:
https://www.nairaland.com/6252741/what-nse-circuit-breaker-why

samuelson06:
Meaning?

Here is the explanation for the NSE circuit breaker:
https://www.nairaland.com/6252741/what-nse-circuit-breaker-why

LibertyRep:
The OP or any other person will do well to educate us on the implication of this ' circuit breaker ' on the economy of the country and that of the average Nigerian.
Thank you.

It has no general implication on the economy. It is simply a mechanism to protect investors in the Nigerian Stock Exchange.

Here is the explanation for the NSE circuit breaker:
https://www.nairaland.com/6252741/what-nse-circuit-breaker-why

slawormiir:
damnnn niggarrrr
Isoright...
I swear i nor get wetin i fit yarn for this kind topic

Here is the explanation for the NSE circuit breaker:
https://www.nairaland.com/6252741/what-nse-circuit-breaker-why

For earlier post by GYMER, see: https://www.nairaland.com/6252005/nse-triggers-circuit-breaker-asi

At 12:55 pm Thursday 12Nov2020, the Nigerian Stock Exchange (NSE) halted trading activities when the NSE All-Share Index (NSE ASI) rose beyond the set threshold of 5%. So what exactly is this "Circuit Breaker"?

NSE CIRCUIT BREAKER
-- Was put in place to check extreme price volatility and protect investors.
-- When NSE ASI rises or drops 5% in a trading day (10.15am - 1.45pm), circuit breaker is triggered.
-- Market goes off and there will be no activity for 30 minutes.
-- After 30 mins, market resumes and all trading activities resume.
-- After market resumption, if there is another 5% price movement in same direction, circuit breaker can be triggered a 2nd time (within same day), but will force closure of the market and resumption next trading day.

lancee:
I rem we mentioned something like that when iNYSE mkt crashed around same period ..but NSE own no triggered that time

Was the market down up to 10% that time ..Am not too sure ..oga mi R.onifa , mcy56 etc will know better

The drop in prices in March were not sharp enough to trigger the NSE circuit-breaker.

We must keep in mind that it takes 5%+/- movement in the ASI (All Share Index) to activate the circuit-breaker, which is one of the mechanisms for protecting investors in the event of "extreme" market activity.

Before today, the last time the trigger was activated was in the year 2016 (as I recall).

Several US states on Tuesday imposed restrictions to curb spread of the coronavirus as people admitted to hospitals soared, straining facilities and medical resources across much of the country. Number of patients hospitalised with COVID-19 in California has risen 32% over the past 2 weeks and intensive-care admissions have spiked 30%, Dr Mark Ghaly, the state’s health and human services secretary told reporters.

As a result, Ghaly announced that 3 counties – San Diego, Sacramento and Stanislaus, home to about 5.5 million people must reverse their reopening plans and go back to the most restrictive category of regulations under which indoor dining in restaurants is not allowed and gyms and religious institutions are also not permitted to hold indoor activities.

“We anticipate if things stay they way they are … over half of California counties will have moved into a more restrictive tier” by next week, Ghaly said.

In Minnesota, Governor Tim Walz announced new restrictions as the Midwestern state reported a fresh record high in daily COVID-19 hospitalisations and medical systems in Minnesota expressed concerns about their ability to cope with the surge. The state reported 1,224 coronavirus hospitalisations Tuesday, up from 1,084 the previous day and a new daily record, according to a Reuters news agency tally.

Beginning Friday, restaurants and bars in Minnesota must close dine-in services between 10pm and 4am (04:00 GMT and 10:00 GMT) and keep the number of patrons below 50% of capacity. The governor’s order also includes private social gatherings, which must be limited to 10 people from 3 households or less. “We’ve turned our dials, we’re going to have to turn them back a little bit today,” Walz told a briefing.

In Illinois, which recorded its highest number of daily cases on Tuesday with 12,626 new infections, Governor JB Pritzker told reporters the majority of the state’s regions were seeing higher hospitalisation rates compared with last spring.

Faced with rampant coronavirus infections and a strained healthcare system, Iowa Governor Kim Reynolds also took steps to curb the disease’s spread by limiting size of social gatherings and imposing a targeted mask-wearing requirement for certain situations.

HOSPITALISATIONS HIT RECORD
US Health Secretary Alex Azar expressed concern about rising hospitalisations that were straining medical facilities in areas hardest hit by the surge, and said health officials will work to set up temporary medical facilities where they might be needed. “As you get more cases, you get more hospitalisations,” Azar said in an interview with MSNBC. “It’s just simple math.”

There were more than 59,000 COVID-19 patients in hospitals across the US on Monday, the country’s highest number ever of in-patients being treated for the disease. Daily new infections exceeded 100,000 for the 6th consecutive day. Hospitalisations are a key metric of how the pandemic is progressing because, unlike case counts, they are not influenced by number of tests performed.

The harsh statistics tallied by Reuters cemented the US position as the country worst affected by the coronavirus pandemic, even as drugmaker Pfizer Inc on Monday provided some hope: successful late-stage tests of its vaccine.

HARSH WINTER
US infectious disease expert Anthony Fauci welcomed the Pfizer vaccine announcement but warned winter months promise to bring more infections as people stay indoors. Fauci said health officials were reporting more infections from small gatherings, an indication the virus is being spread by asymptomatic people.

“There are people out there, innocently and unwittingly, who are infected, don’t have any symptoms, who are infecting others,” he told broadcaster MSNBC on Tuesday. “So much more widespread testing of asymptomatic individuals is going to be very important as we enter, and go into, these months of indoor-type gathering.”

NURSING HOMES CASES SPIKE
The American Health Care Association and National Center for Assisted Living warned about a spike in COVID-19 cases in nursing homes.

“As we feared, the sheer volume of rising cases in communities across the US, combined with asymptomatic and pre-symptomatic spread of this virus, has unfortunately led to an increase in new COVID cases in nursing homes,” Mark Parkinson, president and chief executive of the American Health Care Association and National Center for Assisted Living, said in a statement.

Nursing homes in the hard-hit Midwest saw a 120-percent increase in weekly COVID-19 cases since mid-September, the group said.

SOURCE: https://www.aljazeera.com/news/2020/11/11/covid-us-states-resume-lockdowns-as-hospitalisations-skyrocket

husu:
All these green horns analysing stocks. Zenith was sold for 66naira per share in 2008

Another 2008 Methuselah sighted. Salutations sir!

ositadiima1:
I think Zenith highest price ever was 34 something in 2018. Will zenith break this record ? Simple calculation shows that it is likely .

If dividend payout remains same at 2.8 Naira then 2.8/34*100 = 8% which is still better than current interest rates.

Osita,

your brain is actively complete and completely active. Kudos!

Danniee:
This bull dey fear me ooooo.........
Pls what's the name of fear of making money?

Chrometophobia is the extreme fear of money. Also known as chrematophobia, it encompasses everything from the fear of spending money and the fear of thinking about money, to even the fear of touching money. It combines the Greek word "chermato", which means “money,” and the Greek word "phobos", which means “fear.”

The Canadian Government in its latest draw held in November has invited 4,500 fresh express entry candidates to apply for permanent residency. This was contained in the Canadian immigration newsletter recently released. This round of draws is the 3rd instance where Canada issued 4,500 invitations at a time, the largest number of invitations issued in a single draw.

The minimum Comprehensive Ranking System (CSR) score for this draw was 478, seven points higher than 471 points recorded in the last draw held in October. According to the report, the highest-scoring candidates received an Invitation to Apply (ITA) for Canadian permanent residence in the Express Entry invitation round. In this round, Canada invited the top 4,500 candidates to apply for permanent residence.

In case of a tie between candidates, IRCC applied the tie-breaking rule. So, for this draw, candidates who had a CRS score of 478 or more, needed to have submitted their Express Entry profile before October 26, 2020 at 22:44:19 UTC in order to receive an invitation. Meanwhile, the new draw brings total number of ITAs issued in 2020 to 87,350. This year is shaping up to be a new record-breaking year for Express Entry, as the number of ITAs issued to date is the highest it has ever been.

HOW IT WORKS
Express Entry is the application system that manages the pool of candidates for Canada’s 3 main economic immigration classes:
-- Federal Skilled Worker Program (FSWP),
-- Federal Skilled Trades Class (FSTC), and
-- Canadian Experience Class (CEC).

A set number of the highest-ranked candidates are invited to apply for Canadian permanent residence through regular draws (usually bi-weekly) from the pool. These invitation rounds typically involve candidates from all 3 Express Entry-managed categories. Candidates are ranked based on a score awarded under the CRS, which considers factors such as age, education, skilled work experience, and proficiency in English or French.

WHAT YOU NEED TO KNOW
In a recent report, Immigration, Refugees, and Citizenship Canada (IRCC) announced that French-speaking candidates now get additional points for their language skills, up from an initial 15 points while bilingual candidates will now get 50 points compared to an initial 30 points.

These regular draws and invitations show the Commitment of the Canadian Government to receive more immigrants as Canada announced in October its multi-year immigration levels plan. In the report, Canada promised to welcome over 400,000 permanent residents every year until 2023. It also stated that more than 100,000 of these new immigrants will come in through Express Entry-managed programs in the Federal High Skilled category.

Canada recorded a slower unemployment rate in October from 9% recorded in September to 8.9% as fresh 84,000 jobs were added in the month. This is a great improvement as the country looks to recover from the COVID-19 induced restrictions that took away over 3 million jobs earlier in the year.

SOURCE: https://nairametrics.com/2020/11/10/canada-invites-4500-express-entry-candidates-promises-to-accept-more-immigrants/