Market correcting itself!

Be patient.

Lemme rephrase that...This market punishes good results from banks, it does, really.
Other sectors maybe not so much apart from the temporary corrections. I think one can borad the Co-op bus now though..

After observing KCB's results today, I am doubly impressed by CoopBank. They made virtually the same after tax profit in Q1 with a smaller balance sheet. CoopBank - Kshs 1,640,742,000 (92% of KCB's figure of 1,774,235,000) with a Total Assets base of Kshs 169,452,916 (63% of KCB's 270,943,498,000).

Hopefully KCB will correct this anomaly in the coming months. I have no doubt that Equity will top this profit figure with an even higher figure than that for KCB. I am heavily in this behemoth called KCB, so it had better.

I am now on the lookout to acquire me some Coop having sold out out prior to Q1 results at circa 20. I also made an interesting speculative play on it when it dropped to the low 16s and exited at 18.30 - 18.50. Now another opportunity beckons!

Yes, YCSUN. Coop has never quite shaken out retailers and hence still tends to experience a lot of volatility. Some of these tend to sell ONLY when the prices drops (fear), which allows one to play with it.

I will try to catch it on the troughs and sell at the peaks. Hopefully, I will be able to do this several times over. However, if Q2's performance is maintained at this level or better, I will progressively change my stance.

The lower tax-rate on Co-op is because of it being a "new" listing. Same applies to Equity Bank which has been enjoying a 20% corporate tax for the last 5 years. Equity's should be over this year.

And it keeps going lower...

The lower the better for those of us who are eyeing it. I am already dipping my toes in. Got some at 17.50 but I would really love to get in, in a big way at about 17.