This lion is organising a comeback rally

But i still see major resistance at 23bob we need big buyers to come and wipe out the supply like they did at 19

I have been holding my breath on KCB as I did not sell my holding. I thought there was some gas in it but was not so sure. For once I have gotten good advise from my broker - he advised against a sale order I had placed on KCB @ 22.50.
The plan was to offload then try reentering at abetween 20 and 21- for a 5 months hold.
He said rentry may be a problem as they did not anticipate much downward movement on the counter.:-) :-)

I think anyone in KCB shoould hold until Q3 results are released... I have a good feeling about them...

[quote=mwanahisa]
I decided to bail out but only managed to sell about 25% of my portfolio thus far at Kshs 23. Price has since dropped a bit. I will progressively sell more if the price continues going up.

I bought some Co-op at 18.10 today. I hope I will not live to regret the switch.[/quote]

KCB hit my target of 23 (the pre-rights price in the mkt which I figured would be a psychological resistance level) and I decided to take some profit. I had hoped to buy back below 22 but well, you can't have it all.

I am still hoping that it continues going up as I have most of my stash still held, and I wish to offload it.

I agree with g267 regarding prospects of good 3rd qtr results. KCB had lent massive amounts of money when things were bad and the likes of BBK and Stanchart were shrinking their loan books. With the economy looking up I would expect that these loans are being serviced. I therefore expect growth in profits to be at least double digit (15-20%).

Can we expect KCB to march past Kshs 25 - another psychological barrier in my book?

Meanwhile my buys of Co-op at 18.10 look to have been nicely timed. There were some sales today at 18.90. I could exit Co-op and get back to KCB at 22.75, having endeared myself to my broker for the good commissions he will have earned, LOL! Mzee Young will be outraged!!!