fxuser:

- i don't really buy into d '' do your due diligence '' slogan , I prefer '' do your Personal EMOTIONAL due diligence better ''

have a good weekend , good people

Is UACN about to release their result ?

I have placed orders for the stock since morning, but no luck buying.

stocks with new 52 week lows

Nestlé #570.00k

Vitafoam #1.72k

FO #50.35k

fidson #0.95k

aiico #0.55k


no new 52 week highs

aiico on huge volume of 97.5m + unit.that's 16 times it's average daily volume of 3 months
huge volume on bearish breakout.too badt

Dollar 440/460 black market. Afternoon price BLACK MARKET.
Before evening, it could be exchanging for 420

fxuser:


fcmb
- reluctant sellers vs reluctant buyers
- closing at 1.30 , back to back
- any news will stimulate activity


Dis
still heavy here

Your emotions are cast in STEEL..... .
I have always asked myself 'is waiting not a form of activity?'
I was just imagining how someone that bought UCAP last year, collected his dividend, only waited till now has made multiples of returns(X), while DIAMOND BANK took away 3(X) or even more from my JIJO with it....

Waiting can be painful, but I am no longer eager to enrich my broker either.. .

Even if that result is the last one that will be released in 2017, I must see it first. I promise them.
I am good at taking unusual positions. I have learnt to make more money with my eyes closed these days....

binaflexia:
Dollar 440/460 black market. Afternoon price BLACK MARKET.
Before evening, it could be exchanging for 420

Do you have PETERICHY'S number?
He may need to SHORT!
We have to share information here EITHER WAY....

binaflexia:
Dollar 440/460 black market. Afternoon price BLACK MARKET.
Before evening, it could be exchanging for 420

hONESTLY, I wont mind buying at N400/$ as an investment. I believe the DOLLAR will return to its glorious position once OGA is back from 'YANKEE'.

DeRuggedProf:


Your emotions are cast in STEEL..... .
I have always asked myself 'is waiting not a form of activity?'
I was just imagining how someone that bought UCAP last year, collected his dividend, only waited till now has made multiples of returns(X), while DIAMOND BANK took away 3(X) or even more from my JIJO with it....

Waiting can be painful, but I am no longer eager to enrich my broker either.. .

Even if that result is the last one that will be released in 2017, I must see it first. I promise them.
I am good at taking unusual positions. I have learnt to make more money with my eyes closed these days....

Na wa ohh..All this dey happen to u and you keep quite.?

So these insiders in ZENITH must finish buying before their friends will start marking up and eventually release results..

OBAGADAFFI:


Is UACN about to release their result ?

I have placed orders for the stock since morning, but no luck buying.

No idea .

fxuser:


No idea .

Hmm!
Many bottom-less pits on this NSE....
After guessing on a bottom and taking position, the stock go just shake body continue towards Bayelsa...

binaflexia:
Dollar 440/460 black market. Afternoon price BLACK MARKET.
Before evening, it could be exchanging for 420

Nice rate. By next week, i guess $$$ to Naira should fall to N300... so that those holding (speculating/transacting) $$$ should burn their fingers

DeRuggedProf:


Hmm!
Many bottom-less pits on this NSE....
After guessing on a bottom and taking position, the stock go just shake body continue towards Bayelsa...

lol umm I used to be attracted to dem back in the days, took time to realise that 52 week lows only know how to make new 52 week lows . .

i prefer 52 week highs

rotadelbxtian:


Nice rate. By next week, i guess $$$ to Naira should fall to N300... so that those holding (speculating/transacting) $$$ should burn their fingers

binaflexia:
Dollar 440/460 black market. Afternoon price BLACK MARKET.
Before evening, it could be exchanging for 420

its already 420 in apapa now

pasuma:
its already 420 in apapa now

So bear don enter black market !!!!. I pray this wicked bear leaves our equity market and remain there.

DeRuggedProf:



I need PETERICHY'S opinion too.

Like I said earlier personally I stop hoarding USD when it initially crossed N480 since I earn it on monthly basis after all this was a stuff we sent @ the rate of N165 less than 3yrs ago.

That been said this kneel jerk approach will boomerang and send USD above N600 if their no total float.

*ThE OcToPuS*

pasuma:
its already 420 in apapa now

Had to sell some of my dollars yesterday and retain the rest...This is because sustainability of this FX regime is uncertain as forex accretion remains the focus and with FDI & FPI still at their lowest ebb, it won't take long before another spike in rate occurs.

OBAGADAFFI:


Is UACN about to release their result ?

I have placed orders for the stock since morning, but no luck buying.

I am not convinced this stock has bottomed o. I bought at N12.02 yesterday to increase my holding. Decided to go and wait with my bro at that bus stop of N10 (well more like N11).
There are these 2 sell orders of 2m ish that appears everyday. Buyers snapped them up today but I am not sure that's all the sellers are offloading. Make them no do as FO did today.

Coolcash1:


Had to sell some of my dollars yesterday and retain the rest...This is because sustainability of this FX regime is uncertain as forex accretion remains the focus and with FDI & FPI still at their lowest ebb, it won't take long before another spike in rate occurs.

CBN had sold over $600m this week alone thus ensuring liquidity in the forex market & narrowing the difference btwn the parallel mkt rate and official rate. The question still remain how long will the CBN continue to issue $600m on a weekly basis if demand side of the forex mkt remain constant or increase.

I agree with your view, it just a matter of time the rate move back to over =N=500

DeRuggedProf:


Hmm!
Many bottom-less pits on this NSE....
After guessing on a bottom and taking position, the stock go just shake body continue towards Bayelsa...

I can relate. Was targeting FO below N50. It reversed at about N50.40 to settle at N52 ish. I was like.....so I don miss this rally? But made up my mind not to jump into that bus regardless. Then it made a new low today. So you were not ready to move before? Wickedness in high places.

Manonamission:


I am not convinced this stock has bottomed o. I bought at N12.02 yesterday to increase my holding. Decided to go and wait with my bro at that bus stop of N10 (well more like N11).
There are these 2 sell orders of 2m ish that appears everyday. Buyers snapped them up today but I am not sure that's all the sellers are offloading. Make them no do as FO did today.

The volumes say otherwise. I entered at N12.60 today thanks to obagadaffi's post earlier today.

Willie2015:



CBN had sold over $600m this week alone thus ensuring liquidity in the forex market & narrowing the difference btwn the parallel mkt rate and official rate. The question still remain how long will the CBN continue to issue $600m on a weekly basis if demand side of the forex mkt remain constant or increase.

They would have studied the history of their past interventions and the attendant effects. I think the aim of this most recent intervention is to shrug off the speculative demand in the market. If they can get the price so low as to trigger off massive sell-offs from the speculators, future demand will take care of itself with liquidity from the speculators themselves. Thank God the ones we have here have even started confessing that they're selling off their dollar portfolios. I think N400 is their emotional threshold. I'm very anxious to see the reaction on the fx market once it touches N400.

Willie2015:



CBN had sold over $600m this week alone thus ensuring liquidity in the forex market & narrowing the difference btwn the parallel mkt rate and official rate. The question still remain how long will the CBN continue to issue $600m on a weekly basis if demand side of the forex mkt remain constant or increase.

Y'all shouldn't look at this in isolation. Crude production hit about 2.2m this February and with sustained average crude price above $55 per barrel. It is easy to figure out how external reserve has been rising steadily and what the muscle-flexing by the CBN is all about. If production and prices can be sustained, the CBN will be able to defend the naira longer than you can imagine. But we all know it doesn't take long before the creek boys do their thing. Let's keep our fingers crossed and hope that doesn't happen but instead production increases. Forcados is still down. As for FDIs, them go come........stability and some level of clarity/certainty will attract them. Was Naira floated before they left?

Manonamission:

Y'all shouldn't look at this in isolation. Crude production hit about 2.2m this February and with sustained average crude price above $55 per barrel. It is easy to figure out how external reserve has been rising steadily and what the muscle-flexing by the CBN is all about. If production and prices can be sustained, the CBN will be able to defend the naira longer than you can imagine. But we all know it doesn't take long before the creek boys do their thing. Let's keep our fingers crossed and hope that doesn't happen but instead production increases. Forcados is still down. As for FDIs, them go come........stability and some level of clarity/certainty will attract them. Was Naira floated before they left?

I seriously do not hope and think the CBN will use the gains from the rise in oil price and production to continue pumping USD 600million into the Fx market every week. That would be very irresponsible.

duni04:

The volumes say otherwise. I entered at N12.60 today thanks to obagadaffi's post earlier today.

Yeah, I alluded to that in my post.....buyers simply snapped up that supply. I just kept refreshing to see if the bad guy still got some left. Today's volume was remarkable indeed.

Manonamission:

Y'all shouldn't look at this in isolation. Crude production hit about 2.2m this February and with sustained average crude price above $55 per barrel. It is easy to figure out how external reserve has been rising steadily and what the muscle-flexing by the CBN is all about. If production and prices can be sustained, the CBN will be able to defend the naira longer than you can imagine. But we all know it doesn't take long before the creek boys do their thing. Let's keep our fingers crossed and hope that doesn't happen but instead production increases. Forcados is still down. As for FDIs, them go come........stability and some level of clarity/certainty will attract them. Was Naira floated before they left?

Well said.

Coolcash1:


Had to sell some of my dollars yesterday and retain the rest...This is because sustainability of this FX regime is uncertain as forex accretion remains the focus and with FDI & FPI still at their lowest ebb, it won't take long before another spike in rate occurs.

Sir, you are absolutely right. I still don't understand this premature jubilation of this forex policy. If this policy can hold for 2-4 months, then it is kudos to CBN. I hope we all remember the body language of our "Nowhere to be found President, PMB when he won the election then"...? Anyway, let's just keep praying for Nigeria and focus on what works best for us.

duni04:

I seriously do not hope and think the CBN will use the gains from the rise in oil price and production to continue pumping USD 600million into the Fx market every week. That would be very irresponsible.

If you asked me, they hope to do it long enough to convince investors they are now capable. You would recall CBN gov was always saying he should be given time that patience is needed. That was his response to the senate committee when he was invited. Now we got this new announcement. The game plan should be obvious. They actually think their strategy is yielding the desired results following the over subscription of that their .....shey na euro bond sef.

fxuser:

Zenith bank
- failed to break N16 resistance #flag
- failed to hold support above N15 on big vol #flag
- took a quick loss immediately it closed below N15
- broker is happy , i can sleep well

Lesson
- I didn't wait for breakout above N16
- I didn't wait for support to be valid at N15
- I ignored the charts and was getting corky
- shit happens , cut the losses asap

#tradeDiary

So brother are you saying zenith is a good buy at the current price? Am interested in the stock. Just for medium term. Good analysis will be appreciated. As well as Gtb.