Omoba3:

As you sef fit see from your reply wey pass my own, student pass student.

u be oga student, me i be  omo ise student now 

Thanks. Nothings beats learning.

Bros omoba, stop dis rough play o!
stop with all this student gist jare, me sef i be student!!
here's how i see it

@omoba

if u have hit ur target it may be wise to take some profit now cuz that last candle is a spinning top and would suggest a reversal to the downside soon.

i hope our fellas and fellettes pick up on this thread soon u know

Omoba3:

As we no longer have access to Stockmarket Tips, may be this can hopefully be the interim solution?

Last post by Ijogbon:

@aktopgun

What say you about UBA? I remember you having a dialogue a few posts back about a 'frying pan bottom'? I think UBA is exhibiting the direct opposite of the frying pan i.e the dumpling top reversal.

@ijogbon et omoba

ijogbon o!!!

u are spot on sir including about volume not supporting the pattern as needed. dumpling top it is but the last candle is almost a positive candle as it is almost a shooting star(the tail would need to be twice the length of the body for it to be fully a shooting star) after a downtrend, meaning that although the stock opened higher than its close (hence the red candle), the long upward shadow suggests renewing interest in the stock cuz fellas want to buy at a good price. in a dumpling top , this would suggest a failing of the pattern even after the gap down. i expect some improvement in the coming days for UBA based on this.

@invisible

una dey read gaan o!

knowledge is power abi

cool!

LondonCool:

I was looking for the "Bump and Run Reversal" stuff on my book shelf and found lots of info about it in a book I just bought which came out 2 weeks ago.Its titled "[red]Encyclopedia of Candlestick Charts " by Thomas N. Bulkowski[/red]

I also would like to share other books I own which I found to be very critical to my understanding about investing in the stock market (both in the FTSE/NSE).

[red]Fire Your Stock Analyst.  by Harry Domash [/red]  (I was introduced to this book by my friend the CEO of Proshare-compulsive reading)


[red]The Alchemy of Finance: Reading the Mind of the Market by George Soros[/red] (this is like a pyschoanlaysis of how the market behaves,the character of investors and the influence of fear and greed as motivating factors)


[red]How I Made $2,000,000 In The Stock Market by Nicolas Darvas[/red]

(Here Darvas (who was a dancer)  experience in stock trading goes through 4 stages-as a gambler, then as a fundamentalist, then as a technical analyst-developing his own “Box theory” then as Techno-fundamentalist.He made his money in stocks while he was on a 2 year tour around the world.He was sending coded telegrams to his Broker and prompted suspicion of espionage)

[red]Trading for a Living by Alexander Elder[/red]-(Interesting story how he left his job to start day-trading)

[red] One Up On Wall Street : How To Use What You Already Know To Make Money In The Market by Peter Lynch [/red] (Was forced to buy this book when I joined TICN; I had to learn how to trade in Options)

[red]How to Make Money in Stocks: A Winning System in Good Times or Bad by William J. O'Neil[/red] (and any other book by the author)

[red]"Financial Times" Guide to Using the Financial Pages by Romesh Vaitilingam[/red] (was asked to read the book by my ex-line manager -I also I heard my pastor mention the book when he accused Black folks of skipping over the financial columns in UK newspapers)

[red]The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy by Robert G. Hagstrom [/red] ( this is my main "bible" for fundamental analysis. It puts everything I ever learned into perspective.

[red]The Great Investment: Balancing. Faith, Family and Finance to Build a Rich Spiritual Life by T. D. Jakes [/red] ( The book taught me about how to balance my quest to make millions on the NSE/FTSE with my purpose in life. It also provided a platform for what I call "Inspirational analysis"-picking stock based on inspiration (don't try this at home)

You can share your own stock books too

bros londoncool

serious books u have in ur library. i have one up on wall street by peter lynch and i have one called candlestick charting explained by greg morris(nice ot see u have gotten enough inr=terest in candlestick charting to buy a book on it).

i read on the internet a lot as well as much as i can and get varied ideas and explanations.

planning on deepening my knowledge with one last acquisition in the summer- john murphy's book

@ijogbon

i am feeling ur analysis gaan. i just thot i'd point it out cuz of the similarities

@ioma

thanks. now a resultant question from ur post, what the

ijogbon:

@loma

Some people might mistake your quote as a rally to the abandonement of value (read - longterm) investing and an endorement of 'CICOes'? I no dey O!

And concerning your remark about not wanting to meet me in the night,,,,well ,,,where I am right now ,,,,it is night,,,,what do you think now about meetin me in the dark?

a whole ' ina'n jo ogiri o'sa' like you.

ijogbon( fear dey catch me as i dey type that name, u know wetin e mean!!   )

abeg interpret that latin wey ioma type for me jare  

loma:

Spem longam reseces. Dum loquimur,
fugerit invida
Aetas: carpe diem, quam minimum
credula postero.

Oro agba!

LOMA!!! as my latin isnt what it used to be (it never was ), could u tell me the meaning of this in english? pls. pretty pls

@ijogbon

pls share some of urs as well. i know we have a wealth of it on here and i am glad u've come out of the silent zone to join in the party.

keep it coming man.

case in point, pls take a lok at mobil and tell me what u think.

ijogbon:

@aktopgun

Impressive.

Infact I posted about 2 seconds after you ,,,,,,,I should have waited,,,,and received the added insight you provide with the pictures. I believe it was Quintus Horacius Flaccus who said in 65-8 BC that 'A picture is a poem without words' ,,,,,,,, you Sir, bring that saying to profound prominence.

. For u man (and pls stop with the "Sir" thing. )

Horace
(65-8BC) [Quintus Horacius Flaccus] Latin Poet, Satirist


Quintus Horatius Flaccus, was born on November 27, 8 BC. The renowned Roman Satirist and Lyrist was known in the English world as Horace. His father was a manumitted slave, however, he saved enough to see to Horace's education. His lyrical writings ('satires and lampoons') were to eventually come to the attention of Virgil and, in turn, to one of the ministers of Octavianus. With the recognition of those on high and gifts bestowed (one of which was a farm in the Sabinian Hills above Rome), Horace was able to lead a life of leisure and luxury; and, eventually, was to acquire the position of the poet laureate. His poetry supplies more phrases which have become proverbial than the rest of Latin literature put together.


A picture is a poem without words.


Adversity reveals genius, prosperity conceals it.


A word once uttered can never be recalled.


Adversity reveals genius, prosperity conceals it.


All seasons are beautiful for the person who carries happiness within.


Art is long, life is short. [Ars longa, vita brevis.]


Either follow tradition or invent what is self-consistent.


He has half the deed done who has made a beginning.


It is when I am struggling to be brief that I become unintelligible.


Knowledge without education is but armed injustice.


Pale Death with impartial tread beats at the poor man's cottage door and at the palaces of kings.


Remember, when life's path is steep, to keep your mind even.


Seize the day, leave as little as possible to tomorrow. [Carpe diem, quam minimum credula postero.]


Wisdom is not wisdom when it is derived from books alone.


Youth is unduly busy with pampering the outer person.

ijogbon:



@pumice

I think what you are describing would be near to a bump and run reversal. Although I believe you need a tested resistance for the pattern to be complete. I could be wrong though.

@ijogbon

bros u sef dey? cool!!

e be like say u and i see am the same way (see what i posted above)

pumice, pumice, pumice, or should i say winch, winch, winch!!!

i agree 110% with ur analysis and as eniyanman has said too, looking to time bottoms can be dangerous and an exercise in futility. the candles are ther best tool i have found so far that gets anywhere close.

on the name of the pattern u are looking for, here u go on the same Mbenefit- BUMP RUN REVERSAL TOP

@andico

now, firstalum is a more classic frying pan pattern i think. see here and pls tell me what u think

andico34:

@Aktopgun and others, greetings to u all
I have largely been a silent reader but i post sometimes. Congrats to u AKT u are becoming a guru in chart analysis! What u did on mbenefits(to further analyse was a perfect "pan in the handle" formation. We are at the point of the handle which may last from two weeks to one month which is always noticeable with a volume dryout as indicated in your chart. My opinion is that this is the best time to buy mbenefit(in the handle area) for medium term investors or u may wait for a volume spike to confirm entry point. In addition to other tech parameters, u should also use the cup in the handle or pan in the handle formations. It works very well on the nse e.g utc cup formation(jan 2007- N1.22-N4.00), first alum etc. But always go with the trend i.e entrying with the upcoming bull cycle!!!
Kudos to u all , i ve enjoyed all your posts and am really humbled

me guru ke! na learn man dey learn jare. but thanks for the compliments. i have to say easimoni, roughcut and pumice put me up to this TA route and they are the ones i need to thank as well. they will know why sooner than they realise.   _{(talking in cryptic code})

on the pattern for mbenefit, i actually see it as a cup in handle formation cuz the trough is a bit too deep to be a pan. it looks like a Tea cup with a handle doesnt it. what do u think man?

eniyanman:

absolutely! one indicator alone doesn't tell the full story. recall, i mentioned the chaikin money flow (CMF) gradient some time ago.When I refer to Chaikin, I mean CMF and its gradient. I use gradient to confirm the CMF.

On the surface macd and rsi don't appear to look at the money flow. But implicitly they do. You would agree that when money flows into a stock, it price rises and vice-versa. RSI and MACD focus on the price rises/falls and thus follow the money.

The other problem with MACD and RSI vis-a-viz NSE is the +/-5% daly cap. It distorts the over-all picture. This introduces non-linearity. In other economies where this cap doesn't exist, the MACD and RSI can be used as a pair in helping to decide market entry/exit.

E be like say I don talk too much 
Happy investing

TALK TOO MUCH KE! I DEY GBADUN U GAAN .

i like the fact that no be only me don think about the effect of that 5% NSE cap but it has a good use as well in that it gives investors time to get out of a particular stock that may have reported bad results or one that is headed south quickly cuz of bad news around it. i have thought about it in the case of the candles as well but because it is inter-day differences that the cap is about it doesnt affect intra-day levels of prices, hence the reason for net bid and net offer positions on a daily basis and therefore doesnt affect the candles much. in english, , what i mean is say a stock closed at N20 and there's someone willing to buy it at N100 then it will rise to N21 the next day and be a green marubozu but there will be unfilled bids which in the following days will cause the price to rise

also, case in point, if it were in a market where there were no caps then the stock price of companies like afroil and capoil would have crashed megally on the back of that news from SEC. but cuz of the cap they can only go south by 5% in any one day. hence net offer positions and 4 price doji or red marubozu forming

will like to gist more about the effect of the cap on rsi and macd later with u if u dont mind. gotta run now

thanks

@mecatcha

dunlop. As u know caveats apply

pumice:

Guy you deserve it.

Meanwhile taking another look NEM, it's possible we could draw another trendline using the lowest low that would allow the doji to be above the support which would mean confluence and thus a reverse is pending. What do you think?

Personally I'm more worried about the resistance above. The stock has been in a down trend these past weeks, and with the bears back in town I'm not sure it can develop the momentum to break this resistance. My 2 kobo.
Cheers.

on a lighter note, i thought we agreed we would all contribute at least N1 per post and stop all this 2kobo posts  

abi no be so faketan!

pumice:

Guy you deserve it.

Meanwhile taking another look NEM, it's possible we could draw another trendline using the lowest low that would allow the doji to be above the support which would mean confluence and thus a reverse is pending. What do you think?

Personally I'm more worried about the resistance above. The stock has been in a down trend these past weeks, and with the bears back in town I'm not sure it can develop the momentum to break this resistance. My 2 kobo.

Cheers.

interesting. but u see, its not always a good idea to draw trendlines that touch the price when they(the prices that touch the trendline) are too close together.

u be winch sha cuz i was doing the same thing on the NEM last night but had to draw 3 trendlines to get acceptable touches on the line. that resistance is a worry in this season but short term CICO (ie ultra-short CICO)may have to be the adopted strategy.

if u draw a trendline from a more recent price bottom then the convergence becomes more obvious

blueband:

This nairaland must be the site with the "most related" posters.

Aktopgun,how far now?How was the Benny Hinn thingy?

I need expo for coming week o.Have some dormant funds .Abi make I save am re-enter ABC?for quick CICO.

u want some of my anointing abi! . it was great and i'm back for more this evening. for next week as FOF2 don talk and the charts show boc as a possible candidate.

i dont need to add caveat for u ke!

eniyanman:

@all,
For those using TA, especially charts for CICO, please pay attention to Chaikin Money Flow. With the NSE, always see where the money is going. Indicators like RSI, MACD are not very quick in observing money in-flows. They eventually do, but where a quick 10-15% gain is required, I advise you use Chaikin.

Disclosure: I have not tried this myself.

money flow alone never tells the full story and its not advisable to use one indicator. it can actually lag further behind the RSI or macd histogram

actually, macd and rsi do not look at money flow (sure u know that though). apples and oranges scenario.   .

another indicator that does look at that is the money flow index (it is too similar to the RSI for me) but i have to admit i prefer the chaikin money flow probably cuz of the bar chart-like representation.

the most important thing with the chaikin is the gradient - thats what tells the real story

abi i no correct? see example

pumice:

@ aktopgun

I just woke up now and I saw you question a few pages back on DSR. I immediately went to nigerian securities to have look. I noticed the trendline bounce that SavvyLanre saw _{correct guy}. Remember that's the same trendline I entered in a while ago _{I'm still in}. But I was stuck when you said it wasn't in the candles. I didn't even notice the positive divergence on the in the MACD. So there is more than one indicator suggesting coming price direction.

That's very perceptive of you aktopgun. Your analyses is growing from strength to strength and I really appreciate what you give on this thread.  Thanks a lot for your insights.

Cheers.

all this for me. i just dey learn jare but thanks for the compliments. i am good student abi

@fof2

good morning sir, happy easter, i hope u have seen my campaign to have u back here full time, is this to say u are back with us fully? pls say yes!

I found this funny and thought i'd share it. The unlevel playing field on the NSE

eniyanman:

I be investment banker to myself  . Nope, I'm not into investment banking but suffice to say they use similiar algorithms to the one I use in my everyday work.

fair enough. so did u notice the bottom we were talking about hte other day. i think it was dunlop wasnt it? cant remember.

eniyanman:

exactly. that's why I asked if Pumping had closed his position (if not his losses will be around 15%). The insurance sector is a mine-field. You won't fnd me there!!

I AM ON THAT PLANE TOO BUT AS I HAVE SAID BEFORE, I DO LONG HAUL FLIGHTS. I AM IN THE RED ON IT AS WELL BUT NOT PARTICULARLY WORRIED. WILL WAIT OF RA BULL RUN TO RECONSIDER MY POSITION ON IT  (ie i have not shorted my position based on this bear attack)

btw, are u an investment banker or anything along those lines by any chance?

buzzgonz:

aktopgun - men i read through your blog,nice articles can we have a chat in yahoo now! YIM =  " lr4dollar "

I CANT FIND U ON YIM

IEI is also looking like it may continue for a few days more.

here u go my prince  

@my prince11

bigtreat-https://www.nairaland.com/nigeria/topic-31554.21984.html. here's what i thought of it to naijadr a couple of days ago

NEM's candle suggests a rise coming in the days. a gravestone doji on thursday would suggest renewing interest in the stock. it has violated its trendline with thursday's close but looks to recover from that violation.

Mbenefit crying out for help!