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Share on Facebook Tweet on Twitter Stock Market Report For May 10, 2016 Stock Market Report For May 10, 2016 Equity transaction on the floor of the Nigerian Stock Exchange for today ended with the All Share Index at 25,630,62-0.06% and the Market Capitalization at 8, 819,838,610,424.03 with the volume gaining 198, 459, 473.00 and […]Read More

The Central Bank of Nigeria (CBN) has ordered all banks in the country to programme their Automated Teller Machines (ATM) in such a way that it would not dispense cash if the user blocks his or her image from the security camera. This is stipulated in the Guidelines on Operation of Electronic Payment Channels in […]

President Muhammadu Buhari says he is not demanding “any apology from anybody” after UK Prime Minister David Cameron described Nigeria as “fantastically corrupt”. Speaking at a pre -summit  keynote address in London, President Buhari said he was more interested in the return of stolen assets held in British banks. In his words: Am not going to […]Read More

The Federal Government on Wednesday announced the removal of subsidy on Premium Motor Spirit,PMS, otherwise known as petrol, which simply means that Nigerians will now have to buy the product for N145 per litre.This change in pump price from  N86:50 to N145, represents  a seventy percent increment.   The decision was reached today at a meeting of […]Read More

Over the past two weeks we observed two curious, vol-related phenomena. First, it was Tom DeMark cautioning that even as stocks have surged, the amount of VXX shares outstanding has soared to record highs, a seemingly contradictory confluence of events because it suggested that investors, traditionally “going with the market flow”, are betting on a […]

Via Dana Lyons’ Tumblr, Oil stocks are at a seemingly “must-hold” level within their long-term reversal attempt. If there is one sector that best symbolizes the prospects of the post-February stock market rally, it is energy. It isn’t that energy stocks have been the only area performing well in this rally. To the contrary, we have […]Read More

Following months of appeasement of Turkey’s dictator Recep Erdogan, Europe has found itself surprised that as it yields to every incremental demand, Turkey simply asks for more and more. One such example was chronicled by the FT earlier today in “Turkey demands EU hands over €3bn for refugees” in which we read that “a row […]Read More

Submitted by Mike Krieger via Liberty Blitzkrieg blog, The latest Quinnipiac University Survey on the 2016 U.S. Presidential election is absolutely fascinating, and presents some very bad news for team Clinton, as well as all the clueless pundits who say Trump can’t win. The major takeaway is that Trump and Clinton are locked in a total dead heat in the […]Read More

Remember how awesome it all felt yesterday, yeah that’s all gone… Pride (in senseless uncorrelated low volume rallies) always comes before the fall… [embedded content] Macy’s ate the jam out of the market rally’s donut today despite crude’s spike (and thus Energy stocks) on the DOE inventory draw… This was S&P Retail Sector’s worst day […]Read More

Via GoldSwitzerland.com, Lars Schall interviewed Peter Boockvar. Peter is one of those rare and informed people in the investment space who really understands the history and role of Central Banks in general, the Federal Reserve Bank in particular, and their interactions with the financial industry on (government) policy. We are very pleased to have Peter […]

Things are deteriorating fast for the cash-strapped Islamic State. One month ago we reported that as a result of the collapse of ISIS’ oil trade with Turkey following the relentless bombing of its oil extraction and transportation infrastructure mostly by Russian forces, the money inflows generated by the Islamic State have plunged. “In mid-2015, the […]

It has been a twofer from Bill Ackman’s Pershing Square this afternoon, which first released its latest weekly performance moments ago, revealing that as of May 10 it was down -1.7% for the month, but also -19.4% YTD, back to its worst 2016 performance since April 12. Ackman also released his disastrous Q1 Portfolio Update, […]