Good to see someone else believe what I said last month that the NSE was approaching a slowdown and it was time to start taking profits especially with "referendoom" and the euro crisis. Good job by the way with your trades. I am up 40% for the year mostly from trading EQTY but NSE is up 35% so not filling that good yet.

mY 2 cents, stocksmaster you seem to have done very well here, i suggest yo take your initial investment of 500k from the market and start again wth the 250k you have and you wont worry bout the market fluctuations.

Its anticipated for the market to start correcting itself, unless you see some bargain counters

ACTIVITY 8:PURCHASE OF 3100 STANCHART SHARES @ AVERAGE PRICE OF KSH 228
DATE OF ACTIVITIES:7TH & 8TH JULY 2010

VALUE OF ACTIVITY 8: KSH 228 X 3100 = KSH 706,800

ADD 2% Transaction cost = KSH 14,200

TOTAL COST OF ACTIVITY 8 = KSH 721,000

CASH IN HAND AFTER ACTIVITY 7 = KSH 810,390

CASH IN HAND AFTER ACTIVITY 8 = KSH 89,390

RATIONALE OF PURCHASE
1. Rights issue on the horizon
2. 27M additional shares issued (a 10% increase)from the previous 272M thus a potential 1:10 rights offer.
3. Target of Ksh 2.5B means offer price could be as low as Ksh 95 per share (assuming target of Ksh 2.5B and all 27M shares offered at a ratio of 1:10)
4. Reason for rights is to buy Portion of Barclays bank business with a yearly revenue of Ksh 600M (With the aim to grow it to a Ksh 1B revenue business by 2012). Cost of the acquisition is Ksh 1.88B with remainder money raised to be ploughed back to the bank business.
5. Good dividend history (pays almost 75% of net profits as dividends). Also pays interim dividends.
6. 1st Quarter 2010 growth of 39% (almost overtaking Barclays if this growth persists......remember its even taking 600M business from barclays)
7. A good diffensive stock for the forthcoming referendum........
8. Limited liquidity of the stock means should the details of the rights offer excite the market, the share could experience reasonable capital gains.

Happy hunting.

@stocksmaster, you have bought SCB? Totally unexpected for stocks play. SCB should be a longer term stock IMO. All the best

@Stockmaster u have just gone too defensive...forget this referundum BS...if i were you...i would have gone into UNGA or BBK...BBK reported a 9% drop in Q1 profits due to once off staff costs...come 1H they will have swung back into profitability...i think that would excite the markets and push the stock up...