MarketWatch

[billions]

...Just checked todays price list,the volume traded seems to be back to normal and things are moving North.

I think the bears would have been effectively displaced by the real bulls come next week monday.

Fresh "money" is moving into the market to support the total capitalisation...

[olusolakemmy]

Originally Posted by docjuli

According to BusinessDay (11/06/08) NSE has denied freezing drop in prices. Although this has been a welcome development but I think that it should not be so since some stocks have been overpriced. The true fundamentals of some stocks could be seen now but I believe that when mega companies have released their FYE, the market will pick up; say end mid July.
Cheers

excuse me, did you say that BD reported NSE denied freezing downward movement of share prices?????????
that is laughable!!!!!!!!!
so who did?
what is wrong with this people, you did something on the 9th and denied it o the 10th!
well, am waiting for today (11th) price list to know my next comment, originally, the downward movement will last for five trading days and normal movement to resume next week.

[riskreturn]

Originally Posted by zainabusman

It is a good development. There will be no basis for anybody now asking 4 a premium above the PP price.

It will also reduce the attraction of PP's. This might help liquidity in the secondary market.

But how are we sure that upon listing of shares at their PP prices, the prices would not continue to rise at the maximum 5% everyday until they piece the roof (or, sorry, the sky) as they have almost always been doing? For instance, the Big Treat, when first listed, rose by the allowable maximum of 5% for several days or weeks to reach close to 20 Naira and this rise could not be explained by listing it above its PP price. Dangote Flour rose to about 50 Naira before it now rests at just above 20 Naira, despite the fact that it was first listed at the PO price of 15 Naira. I think listing at the PP prices may not do very much magic in curbing arbitrary rises in the prices of newly listed stocks. Probably, the new rule that 10% of the listed shares must have been verified and entered in the CSCS accounts may go some way in moderating this tendency, but not requirement of listing at PP price as such.

[billions]

Originally Posted by zainabusman

I dont believe in ur conspiracy theory.

Prices fall when supply outpaces demand. It is possible some big institutional investors might have unwound thier positions in banks but it is their right to sell. Right now Intercontinental is on offer because it is over priced relative to other banking stocks.

No one was screaming when penny stocks were rising 500% or more. Now hell has broken loose cos the market has lost 3%.

Well,i screamed when d prices of stocks with no fundamentals were moving North for no reason.

What u call a conspiracy theory is my opinion and until i have a good reason to believe otherwise..i cannot change it.

I hope that we will get to know the reason(s) behind all dis.....

[zainabusman]

Originally Posted by billions

...Just checked todays price list,the volume traded seems to be back to normal and things are moving North.

I think the bears would have been effectively displaced by the real bulls come next week monday.

Fresh "money" is moving into the market to support the total capitalisation...

The only way is up since there is an executive order against downward movement.

[billions]

Originally Posted by zainabusman

I dont believe in ur conspiracy theory.

Prices fall when supply outpaces demand. It is possible some big institutional investors might have unwound thier positions in banks but it is their right to sell. Right now Intercontinental is on offer because it is over priced relative to other banking stocks.

No one was screaming when penny stocks were rising 500% or more. Now hell has broken loose cos the market has lost 3%.

lets wait and see...

[fredski]

Originally Posted by kenebobo

Some stocks in my portfolio are begining to turn positive at last. I wonder why people dey complain about NSE recent action. To me its for our own good

YES I Concur all is looking good for now. Time to Hold Cash

[XXCASH]

Originally Posted by billions

lets wait and see...

As i have always said.

[olusolakemmy]

we are patiently waiting.
now they have denied freezing but only implement minimum trade of 100k unit daily.
but we know that lots of stocks are trading in their millions and the prices are not moving.

even when the market was really bullish, there was never a time that its either you appreciate in price or you remain where you are, some stocks will definitely shed price.

well, we are in nigeria, where anything is possible.

but this week price appreciation should not be used as a yard stick, because its not a standard situation.

rest my case on this price fixing

[kenebobo]

I am begining to suspect foul play in all this. The truth would come to light. Why should they deny the freeze

[billions]

Originally Posted by kenebobo

I am begining to suspect foul play in all this. The truth would come to light. Why should they deny the freeze

The denial was not necessary! It is better for them to educate the public on d solutions they are working on.This will improve public confidence in d market,...not this official denial.

[kenebobo]

Originally Posted by billions

...Just checked todays price list,the volume traded seems to be back to normal and things are moving North.

I think the bears would have been effectively displaced by the real bulls come next week monday.

Fresh "money" is moving into the market to support the total capitalisation...

Amen o! let the real bull displace the bears and not this counterfit bull wey no fit pass NAFDAC test

[hispy99]

Originally Posted by XXCASH

I still remain very positive about the market. When you find yourself in the same position like these guys (madam nse, CBN and co) then you would know that things are not as easy as you see them.
From the outside, it's very simple to criticize and know all the right answers.

Well, the market is trading close to 12B. Anyhow e go better.

My point is if Madam Ndidi had done her job in the first place, maybe we would not be here in the first place.

[hispy99]

Originally Posted by riskreturn

But how are we sure that upon listing of shares at their PP prices, the prices would not continue to rise at the maximum 5% everyday until they piece the roof (or, sorry, the sky) as they have almost always been doing? For instance, the Big Treat, when first listed, rose by the allowable maximum of 5% for several days or weeks to reach close to 20 Naira and this rise could not be explained by listing it above its PP price. Dangote Flour rose to about 50 Naira before it now rests at just above 20 Naira, despite the fact that it was first listed at the PO price of 15 Naira. I think listing at the PP prices may not do very much magic in curbing arbitrary rises in the prices of newly listed stocks. Probably, the new rule that 10% of the listed shares must have been verified and entered in the CSCS accounts may go some way in moderating this tendency, but not requirement of listing at PP price as such.

Even this is not good enough. Most likely the people that cause the price manipulation control more than 10% of the shares outstanding. The new company should provide evidence that share certificates have been sent to ALL shareholders before the company is listed. Furthermore, the registrar should provide evidence that EVERYONE that wants to dematerialize their certs can.

[knightofdelta]

Originally Posted by hispy99

My point is if Madam Ndidi had done her job in the first place, maybe we would not be here in the first place.

The market has become unpredictable right now. There are allegations and counter-allegations and everybody is covering their backsides and leaving us investors wandering what under the sun is going on. It would have made a whole lot of difference to let the market decides for itself.

Why do I have the feeling that some of the powers that be read SMN? Because anytime we raise our eyebrow about an issue the regulators just start coming up with excuses. Maybe it is time to become a little bit more venomous on the authorities when they mess up.

@XXCASH. I agree that things are not easy if one is inside but them when it comes to things like these, you do not let your emotions take over your judgement. A mere 3% YTD loss and all hell have been let loose? Madam is there because the people that put her there felt she had the credentials to be a leader. Leaders are not frazzled when they see challenges. What we don't like is putting a price floor on share prices (which is what happened, no matter what they say). It goes against economic principles.

Now, I am scared of buying stocks because I don't know what will happen next week.