PE now 14+, down from the recent 20. Will this one bottom out when the PE also gets to around 7, like so many Blue Chips ? Anyone thinks it's time to buy ? I sold last Thursday @ 9800 at a helluva loss, but glad I did !
one naira was about 8 cents now its 10c thats a 20% return on exchange and they use their cell phones big time in the land of oil and money I go there on sunday again was there 3 weeks ago and nothing changed there
As long as some part of the population would first buy airtime and then food, then MTN must make money. I added to my futures now @ 8310 & 8360 (started @ 9460) I hope my nerves will make it ! [It trade now @ 50% of the all-time high - if that means anything (?)]
Please let sanity prevail there is no food problem in nigeria believe me airtime is cooking up there they do not even think twice about airtime what other communication system do you have there ??? so we see
Calling the bottom now is like Russian Roulette - The Jse Overall has broken 19 000 and I do not see any particular resistance level on the charts, therefore no place to pin my bets. Johan Rupert said that he would not buy shares unless he is going to keep it for 6 years. Sit on the side or short - that is about it
Skippy called the bottom a week or two ago when he said we'll reach the R64 level based on the broadening formation breakout. Just ask louisg, he scoffed at this as - oh, what does he call it again? - "crystal ball talk".... Ha ha, it's wonderful what a good study of market psychology (that's Technical analysis to most) can do for your investing/trading.
I am red lining here ( But shorting this one at this level is like playing Russian Roullette with every barrel loaded takes a brave soul so if you can I would say stay on the side ( I am just bailing myself out waiting for the short squeeze ) when MTN runs it runs
If you want some hope... here it is, MTN has gapped down today from yesterday's low. If this market can close that gap today and close near it I believe we can see a rally in the next couple of days. Do not be sucked in though, a rally is your chance to exit stale longs before the next leg down. Buy when we reach the R60's, OMO.