onicha123:
hello guys....
I have been following up on the discussion on stocks ...to be honest I find it hard to understand what you guys say something.I really want to understand how this stock thingy works....I need help.
I know there are lot of pros in this house.
and do I need to go to school or become certified to trade stocks.

thanks guys

Yem0350:
The Nigerian Stock Exchange has announced the Index Circuit Breakers Rule will be effective from today, Friday 15th of January.
 
Rule 15.46: Trading Halts Due to Extraordinary Market Volatility (Index Circuit Breakers)
 
(a)   The Exchange shall halt trading in all stocks and shall not reopen for the time period specified in this Rule if there is a Significant Market move in either direction.
 
(b)   For purposes of this Rule, a Significant Market move means a five per-cent (5%) move in price of the All Share Index between 10:15am and 13:45pm on a trading day as compared to the closing price of the All Share Index for the immediately preceding trading day.
 
(c)   Halts in Trading: if a Significant Market move occurs after 10.15am and any time up to and including 13.45pm The Exchange shall halt trading in all stocks for thirty (30) minutes. The Exchange shall not halt trading if a Significant Market move occurs after 13.45pm.The Exchange shall halt and reopen trading based on a Significant Market move only once per trading day.
 
(d)   If, following the reopening of trading after a Significant Market move halt, the All Share Index moves further by a minimum of five per-cent (5%) below its closing value on the immediately preceding trading day, during any trading day The Exchange will halt all trading for the remainder of the day. The last traded price in any security prior to the closing of the market shall be deemed the closing price in such security for the day.
 
(e)   Re-opening of Trading: the re-opening of trading following a trading halt shall follow the procedures as may be set forth by The Exchange.
 
(f)     Nothing in this Rule shall be construed to limit the ability of The Exchange to otherwise halt, suspend, or pause the trading in any stock or stocks traded on The Exchange pursuant to any other Exchange rule or policy.

freeman67:


Thanks Yemo0350 that's what we expect to hear. Even though it shouldn't have happened in the first place. Not someone coming to tell us that if we are not lazy we should calculate when the money is obviously missing.

chillykelly86:
Copied:-

In Zimbabwe, a man appeared and announced to the villagers that he would buy monkeys for $20.00 each. The villagers seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at $20.00, and as supply started to diminish, the villagers reduced their effort.
He further announced that he would now buy at $30.00. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms.
The offer increased to $40.00 each and the supply of monkeys became so little that it took so much effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at $100.00! However, since he had to go to Jo'burg on some business, his assistant would now buy on his behalf. In the absence of the man, the assistant told the villagers, "Look at all these monkeys in this big cage that the man has collected. I will sell them to you at $80, and when the man returns from the city, you can sell them to him for $100.00 each." The villagers came together with all their savings and bought all the monkeys.
Then they never saw the man or his assistant, only monkeys everywhere!

You have just been given a free lecture on how the stock market works!!!

bigjay01:


have just noticed this (?dodgy) entry. I have always been charged the annual fee in October.

I opened my A/C in October 2014, was charged
2.5K in October 14
2.5K in October 15
2.5K in January 16

I'll get on the blower to them on Monday. Every little helps (as my favourite grocery chain would say)

Yem0350:
The issue of double deduction of access charge by Morgan Capital has been escalated to the appropriate authority and it is being worked upon. Kindly exercise patience.

Yem0350:
There was a staff (with required access control to make reversals) that tried to make a reversal of a double posting into a client account on 15th Oct., 2015. He inadvertently clicked and reversed the auto-posted annual charge that was posted on 1st Jan 2015 and this reversed ALL annual charges out of ALL clients accounts who had account with us as at 1st Jan 2015, which was the effective date of that posting.

When this error was noticed during routine reconciliations, a new auto-posting was made on 12th Jan 2016 with effective date of 1st Jan 2015 as necessary. However, this new entry debited ALL clients who have account with us as at 12th Jan, 2016. This effectively means that all clients that opened their account with us from 2nd Jan 2015 - 12 Jan 2016 would have been affected by a double posting of annual charges for 2015 because they weren't affected by the reversal error.

In correcting this for the clients affected (that is: those that opened account btw 2nd Jan 2015 - 12 Jan 2016) we can't make a simple auto-posting to correct this error (this would generate postings across all clients including those not affected), so we have to post individually a reversal into these affected accounts and this process started on the 13th Jan, 2016 and we expect it to be finalized by 22nd Jan 2016. Some clients affected might have seen these reversal postings, but all should see it by 23rd Jan 2016.

To further proof this was the case, if anybody has a friend who opened account with us before 1st January, 2015 ask him or her and he would tell you there was indeed a reversal of the 2015 annual charges which was then reposted on 15th Oct 2015. This was why the narration of the posting was clearly stated. Nobody commits fraud by stating clearly a narration like what was stated on the 15th Oct, 2015.

We are indeed very sorry for the late explanation and the inconvenience this must have caused you.

Regards,
CEO

angelo82:


Do you mean the rule is bad for the market or what?

chillykelly86:
Copied:-

In Zimbabwe, a man appeared and announced to the villagers that he would buy monkeys for $20.00 each. The villagers seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at $20.00, and as supply started to diminish, the villagers reduced their effort.
He further announced that he would now buy at $30.00. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms.
The offer increased to $40.00 each and the supply of monkeys became so little that it took so much effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at $100.00! However, since he had to go to Jo'burg on some business, his assistant would now buy on his behalf. In the absence of the man, the assistant told the villagers, "Look at all these monkeys in this big cage that the man has collected. I will sell them to you at $80, and when the man returns from the city, you can sell them to him for $100.00 each." The villagers came together with all their savings and bought all the monkeys.
Then they never saw the man or his assistant, only monkeys everywhere!

You have just been given a free lecture on how the stock market works!!!

zendi:
It leads to more panicky dumping when the breaker is removed, because it sends the message that things have become terribly bad with the market. Remember, people are hyper nervous and trigger happy over their money.
Also it conveys the idea of artificially manipulated market. Do you go to Balogun, Alaba or Onitsha mkts and set off alarm for trading to stop because prices have gotten too low?
People want to trade in as natural a market as possible. So let prices find their level, whatever level.
It may get real scary but ultimately will engender supreme confidence in the market.
I dont remember hearing of circuit breaking in the advanced markets of the western world.

9free:


Chai.......... I think it's high time we up North starts hoarding our Crops, Vegetables and Livestocks.
Just as the Niger Deltans and Easterners were shouting OUR OYEL. We must start shouting OUR FOODS.

rychard:
I borrowed some bank shares from my broker last year sold them off@ 9N , well, I'll buy 'em shares @ 3.66 on Monday and return to my btoker, along with their admin fee...

It's all risk biz. And I just became profitable..
The market is yet to bottom out, so no rush, ASI needs to hit the 20k or market cap. drop between N5 - N6tr. That's the time to go in.

carpenter:


Circuit Breakers exist in most or all advanced countires also...where do you think Nigeria got it from? Whether it is effective is another thing entirely.

I would think if everything is going down, and you stop it...you may be lucky that sentiments have changed by the time you resume as against allowing it to continue going down with no end in sight.

modified*** http://www.sec.gov/investor/alerts/circuitbreakersbulletin.htm

zendi:
Okay, the info is noted. Like you said, its all from the west.
I just pray we rarely have to resort to it.

9free:


Chai.......... I think it's high time we up North starts hoarding our Crops, Vegetables and Livestocks.
Just as the Niger Deltans and Easterners were shouting OUR OYEL. We must start shouting OUR FOODS.

zendi:
i no hear noise about resource control again now wey ragolis water, sorry pure water wan cost more than the oyel.
man fit even come up north come join una dig zinc and other stones for Jos area.

zendi:
i no hear noise about resource control again now wey ragolis water, sorry pure water wan cost more than the oyel.
man fit even come up north come join una dig zinc and other stones for Jos area.

zendi:

But O, Gboko Haram!

megainvest:
Brent crude now $28.94/bbl where is PETERiCHY with the news?

valacious:
na wao...the blood on the floor is so thick men. Who would prophesy first bank at N3.50, i mean N3.50, and no bid....

locodemy:


make the thing quickly go down to $20 so that the market go bottom out and money making process go form

Justcul:
@ sir manie and sir stockbull, what is your take on FBNH at N3 /sub N3? Is it safe considering the management of the bank? can a longterm investor pull the trigger at this point in time?

Experienced heads are also encouraged to contribute; no jokes ooo

megainvest:


You read my mind bro. It is better the crude bottoms out this January so that it will not affect FY earnings bull in Feb / March. In fact if it bottoms out now, it will make the BULL stronger by the time results hit the market.

locodemy:


No need to panic again.let them continue buying buying buying while we wait for crude oil and stock market bottom out.i prefer buying zenith at #5.00 and have strong mind it will not fall more to buying at #9.00 anticipating a bull to take off from their only to be disappointed.

my problem now is my brokers are still with my money and are pressing me to buy.pls is my money in safe hand as i am not ready to buy anything now until i am willing?i deposited the money directly into their bank account and my bank deposit teller and receipt from my broker for the payment are still with me or do i buy now out of fear that my money wont be consumed by them.just a sum of two million naira.

pls i need your advice b4 i regret either.

locodemy:


just like that?it will cost you one tortoise eye,poo of a virgin dog,fallopian tube of a green snake then you are welcome.

UkwuAmu:
These are trying times for investors. The signals are not good and its not peculiar to Nigeria alone . Prices of equity may have come down significantly but that does not mean you should catch a falling knife. Yields of most equities are very attractive but how long are you prepared to hold? Its not easy to time the market but what hope and direction does the nation give you to believe things will become normal in the next one year? people may have bought GTB at 13 yesterday but it could fall to 7 and the implication is you could have bought up to double the shares you bought at 13.
The 400 richest people have lost $305 billion from their combined net worth this month as global equities tumbled for the worst start to a year on record as concern mounts that global growth is faltering . The Dow industrials lost almost 400 points in Yesterday’s selloff, and investors snatched up bonds anew, sending 10-year Treasury yields briefly below 2% for the first time since October.
fresh lows in oil prices, stumbling Chinese stocks and weak U.S. economic data shows all is not well with financial markets worldwide. I do not see where the hope is for Nigeria considering the fact that we can't even solve our little problems
This may not appeal to everyone but cut your losses and keep your cash for the time being and you will be happy for it . Those who bought first bank at N8.00 thought they were making a killing . they could have bought 3 times more shares now. For dividend hunters, your N2.00 dividend of 2014 will be better than your N4.00 dividend in 2016 .
please check this write up and see exactly where the market is going . The sell off is very far from over . Its a very simple explanation of what is going on . if you need clarity , post your questions

http://www.nigeriaretailinvestors.com/index.php/investor-forum/the-trading-room-home-of-technical-analysis/292-is-the-world-stock-market-crashing

I am not a prophet of doom and I know a lot of us are too emotional when it comes to investments but I will advise that you listen to wise counsel.
One more thing , there is a certain 'audacious" Oil company who cannot survive with oil prices below $32 dollars. The implication is that company is going to wind down. I have sounded this warning ages ago and people criticized me . Even people made money from Nospecto and even a dead clock can be right 2 times in a day .
The question of how to navigate the market at times like this is to do nothing .However its very difficult to do nothing especially when you have cash.
Prices might be low but it does not mean equities are relatively cheap
Thread carefully brethren