MarketWatch

[savvy]

Originally Posted by docjuli

The SMN users seem to be low today.
Anyone know why?
Or is it just an ISP glitch?

Nope we are slowly marching towards the 400 mark.. its 399 for now..
There sure is some more interest in stocks again..
I consider the 430-450 range to be the 'cautious' zone

What do you think Zain.. that is if you were keeping records during the euphoria season of last year..

[c kenneths]

Originally Posted by docjuli

The SMN users seem to be low today.
Anyone know why?
Or is it just an ISP glitch?

Many are haggling on the NSE floors to buy some more stocks. Too busy to post now.

[docjuli]

Originally Posted by zainabusman

Docjuli,

I hope u dont mind but i edited ur post to remove the market cap and Index. These are for 25th March. It usually takes the NSE an hour or so after closing to update the Index and Mkt cap. The editing is to ensure members get an updated info.

Thanks for ur understanding.

oscosnot. (of course not)

[yemo]

Originally Posted by zainabusman

Docjuli,

I hope u dont mind but i edited ur post to remove the market cap and Index. These are for 25th March. It usually takes the NSE an hour or so after closing to update the Index and Mkt cap. The editing is to ensure members get an updated info.

Thanks for ur understanding.

Market summary 26 May 2009

[c kenneths]

Bulls return as index rises by 1.5%

Testing this link.

[billions]

Originally Posted by c kenneths

Bulls return as index rises by 1.5%
Testing this link.

The index increased by 2.03%.

[c kenneths]

Originally Posted by billions

The index increased by 2.03%.

Really? I copied that link from punchonline and was testing if its possible to use this device to paste links, but it seems not to be possible. Punch is wrong then.

[wanaj0]

Am I the only one having problems with the site? It's become unstable for a while now.

Anyway, the BULLS are doing quite well. The BEARS are so scared stiff now. Some newbies will be joining the market now. Soon we will start to see the rise and rise of stocks like Afroil again. So invest wisely.

[c kenneths]

Originally Posted by wanaj0

Am I the only one having problems with the site? It's become unstable for a while now.

Anyway, the BULLS are doing quite well. The BEARS are so scared stiff now. Some newbies will be joining the market now. Soon we will start to see the rise and rise of stocks like Afroil again. So invest wisely.

Someone was bombarding me for advice for whether to buy Inter. Bank, as if he just woke up today after sleeping for six months.

The mistakes of 2007 will still be repeated, and thats why I think I will be very rich after the next crash lol!

[billions]

Originally Posted by c kenneths

Really? I copied that link from punchonline and was testing if its possible to use this device to paste links, but it seems not to be possible. Punch is wrong then.

The index increased by 1.47% yesterday...this is close to 1.5%.

[wanaj0]

Originally Posted by c kenneths

Someone was bombarding me for advice for whether to buy Inter. Bank, as if he just woke up today after sleeping for six months.

The mistakes of 2007 will still be repeated, and thats why I think I will be very rich after the next crash lol!

So funny how in life nothing EVER changes.

One of the first things I learnt was that when the market is filled with public/private offers it is a sign that the market is OVER valued. Sure many people knew that but refuse to put it into practice.

I've seen some optimism being displayed now and I start to wonder whether some magical companies just got listed on the NSE. I mean people were scared of Diamond at N4.00 but happy to harass their broker for not buying at N9.00!!! What has changed.

As for me and my household, any stock above 20% from year low is a no go area. I want a stock with HUGE upside but minimal downside.

[pumping]

For now the market is just a legitimate pyramid scheme. People will continue to buy at any price for as long as they believe someone will buy it off them at a higher price.

I had a discussion with some folks that have been buying stocks in the last few weeks and I was surprised to hear the reasons given for choosing one stock over another one. Nothing substantial but every one of them is feeling great because whatever they bought turns to profit in a few days!!

Well, this is a good time for those that thrive on cycling in and out. For long termers, I guess, it's just to buy and sleep until the bus conducters finally decide to enter the market....by the time everyone is in on it...the pyramid will likely collapse...and some correction must set in..for now, let's all smile to the bank and keep our ears close to the ground...the last 4 weeks have been too 2 sweet...

[hispy99]

Originally Posted by pumping

For now the market is just a legitimate pyramid scheme. People will continue to buy at any price for as long as they believe someone will buy it off them at a higher price.

I had a discussion with some folks that have been buying stocks in the last few weeks and I was surprised to hear the reasons given for choosing one stock over another one. Nothing substantial but every one of them is feeling great because whatever they bought turns to profit in a few days!!

Well, this is a good time for those that thrive on cycling in and out. For long termers, I guess, it's just to buy and sleep until the bus conducters finally decide to enter the market....by the time everyone is in on it...the pyramid will likely collapse...and some correction must set in..for now, let's all smile to the bank and keep our ears close to the ground...the last 4 weeks have been too 2 sweet...

It must have been for you to have written 2 twice

[hispy99]

The Punch: NSE soft-pedals on deadline for share certificate dematerialisation

[hispy99]

The Punch: SEC stops mandatory underwriting of new issues

[c kenneths]

Originally Posted by hispy99

The Punch: SEC stops mandatory underwriting of new issues

If new issues are not underwritten anymore, lots of public offers will hit the market and we may see many failed offers as investors alone cannot buy all shares on offer.

I think the underwriters are scared of being left to carry the can.

[hispy99]

Vanguard Online Edition - Shareholders indict NSE over delisting of moribund companies

Shareholders indict NSE over delisting of moribund companies

[hispy99]

THISDAY ONLINE / Nigeria news / African views on global news

SEC Moves against Price Manipulation

[c kenneths]

Originally Posted by hispy99

The Punch: NSE soft-pedals on deadline for share certificate dematerialisation

The problem with dematerialization is that many investors didnt know what they were walking into. They were bombarded from the media, adviced by friends, bankers and even their barbers to buy public offers. Now they are saddled with certificates they dont know what to with.

Met one boy in a bank one day, he used his life savings to buy FBN offer N99,000, (3000 units) now he wants to sell even as FBN was selling for N17, (he needs his cash for school fees) now he approached a branch of FBN to refund him his money and was made to know that its impossible. He was asked to meet a broker, CSL is next door so he walked inside and asked to sell his FBN and was made to know that he will first open a brokerage account with 500,000 naira! While he is looking for 35,000 for school fees!

He must also open a current account to cash his dividends. I think all these should be explained to prospective investors.

[knightofdelta]

Originally Posted by wanaj0

Am I the only one having problems with the site? It's become unstable for a while now.

Anyway, the BULLS are doing quite well. The BEARS are so scared stiff now. Some newbies will be joining the market now. Soon we will start to see the rise and rise of stocks like Afroil again. So invest wisely.

Originally Posted by c kenneths

Someone was bombarding me for advice for whether to buy Inter. Bank, as if he just woke up today after sleeping for six months.

The mistakes of 2007 will still be repeated, and thats why I think I will be very rich after the next crash lol!

There was a client that I was introduced to who I advised to start buying up stocks two months ago. He looked at me as if I was from outer space...

Last week he came with a lot of money and told the brokers to start buying but of course all the stocks he asked for we all on "bid". He came two days ago to complain about how he has been poorly treated.

I shook my head and was glad that I don't have to deal directly with clients. There is something called "Greater Fool Theory", a mini-bubble is forming already and I expect a minor crash within the next few weeks as this run is quite unsustainable. At the bottom of this mini-crash, the other institutional investors like PFAs and more foreign investors will hit the market and drive it up again towards the end of the year.

Like someone said, I believe that the NSE will close positive this year...