wukan wrote:Ericsson wrote:Fyatu wrote:Sufficiently Philanga....thropic wrote:Following the Prseident's refusal to sign the Finance bill until the rate cap is done away with, September 2019's 10 year low of 2420 will be the floor.....
Woe unto those who are not inside the market.....watabaki tu kukula na macho.
Market conditions still weak to push a rally.Top gainer today is at 4%.
This bear will teach many a lesson. The problem is structural and interest rates on their own won't deal with the underlying structural issues. Fiscal stimulus has failed to stimulate the expected growth now they will try monetary stimulus. You need to look at point 3 of the president's memo.
Technically looking at the chart you can see the tail has to be longer than where it is now to complete the correction.
I am not a TA, however, i have noticed general lack of supply in most stocks over the recent past(6 months)and reduced turnover hinting that perhaps we have bottomed-out.
I am keen to know how low the NSE20 can go as you seem to suggest. Can it go sub 1500 points? If it goes sub 1500 what will be the price of KCB or Equity or Safaricom etc shares? . Is there a possibility of seeing KCB at sub 17 bob or Safaricom at sub 12 bob? Will Britam trade at 3bob?
I strongly doubt the index will go any lower than 2420.Also, you will notice that most companies posted improved numbers HY2019 and there were less profit warnings. Most tier 1 banks performed very well and are highly likely to post better results FY2019 that previously posted pre-rate cap.
The bear is good. I want it to last a little longer so that i can cement my positions.
Dumb money becomes dumb only when it listens to smart money