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TRW WEEKLY REPORT FOR 4TH-8TH OF OCTOBER 2010.

The market sang a new song this week reversing after a 2 weeks Bearish rally as the Bulls closed the week up by 1.59% closing the NSE ASI at 23,050.59 points.

Monday, the markets opened with a gap lower from Fridays down rally, Tuesday, the Bulls surfaced cautiously, and there was a sharp follow up through Wednesday and Thursday threatening to begin a larger correction, but by the end of the week they had regained the quarter of their losses for the month.

A turnover of 1.1 billion shares worth N10.5 billion in 21,572 deals was recorded this week, in contrast to a total of 971 million shares valued at N8.36 billion exchanged last week in 28,629 deals. The stock market opened for four days as Friday was declared Public Holiday to commemorate the 50th Independence Day anniversary.

The month of September lost a total of 1,217.65 as against Augusts 527.53 points. A terrible month I must say.

As Nigeria turns 50 today, what direction are we looking at?

One positive area is third quarter Earnings seasons, with a lot of companies earlier posting positive financial scorecards.

Technically,

There is an interesting patterns developing in the markets as all major indexes shows MACD crossing-over confirming a Buy signal (except NSE Insurance)RSI levels are approaching it's 50 points level and possibilities that the markets will be met with quick and urgent selling and stalling the Bull advances.

Other area of importance to watch are how the market indexes deal with resistant levels and whether buyers will continue to buy within these levels.

This does not mean the markets have transitioned to downtrends, but more likely, that a period of range-bound price movement is on the way.

Use TRW STOCKBROKERS STOCKS WATCH LIST FOR MULTIPLE TIME FRAME OF DAILY, WEEKLY & MONTHLY

Have a Great Trading week.

INDEX

Ticker

Date/Time

Previous

Price

WTD

MTD

Yearly

NSE

30/09/2010

   22,689.09

   23,050.59

1.59

-5.02

10.68

NSE 30

30/09/2010

         953.69

         976.80

2.42

-3.34

17.97

NSE BANKING

30/09/2010

         327.82

         336.29

2.58

-5.38

-0.89

NSE F&B

30/09/2010

         709.94

         718.02

1.14

-8.62

36.32

NSE INS

30/09/2010

         148.79

         141.24

-5.07

-18.36

-43.28

NSE O&G

30/09/2010

         332.00

         329.91

-0.63

-8.73

14.53

WEEKLY GAINERS

Ticker	Date/Time	Previous	Price	Weekly
NIWICABLE	30/09/2010	0.61	0.73	19.67
UBN	30/09/2010	3.17	3.63	14.51
COSTAIN	30/09/2010	6.24	7.00	12.18
SKYEBANK	30/09/2010	6.80	7.54	10.88
AFROMEDIA	30/09/2010	0.64	0.70	9.38
NB	30/09/2010	69.20	74.58	7.77
UACN	30/09/2010	37.43	40.32	7.72
ACCESS	30/09/2010	7.78	8.38	7.71
UBA	30/09/2010	8.82	9.45	7.14
DIAMONDBNK	30/09/2010	5.94	6.36	7.07
JAPAULOIL	30/09/2010	1.01	1.07	5.94
STARCOMMS	30/09/2010	1.89	2.00	5.82
CADBURY	30/09/2010	23.99	25.37	5.75
OANDO	30/09/2010	57.00	59.95	5.18
DANGSUGAR	30/09/2010	14.91	15.67	5.10
ZENITHBANK	30/09/2010	11.80	12.35	4.66
UNHOMES	30/09/2010	0.66	0.69	4.55
DANGFLOUR	30/09/2010	11.94	12.46	4.36
ETI	30/09/2010	14.00	14.51	3.64
PZ	30/09/2010	30.01	30.99	3.27
IKEJAHOTEL	30/09/2010	1.12	1.15	2.68
NSE BANKING	30/09/2010	327.82	336.29	2.58
NSE 30	30/09/2010	953.69	976.80	2.42
UNILEVER	30/09/2010	24.00	24.50	2.08
INTBREW	30/09/2010	6.97	7.10	1.87
NSE	30/09/2010	22,689.09	23,050.59	1.59
FIDELITYBK	30/09/2010	2.25	2.28	1.33
NSE F&B	30/09/2010	709.94	718.02	1.14
PLATINUM	30/09/2010	0.94	0.95	1.06
FIRSTBANK	30/09/2010	10.94	11.00	0.55
NAHCO	30/09/2010	9.16	9.21	0.55

WEEKLY LOSERS

Ticker	Date/Time	Previous	Price	Weekly
INTERCONT	30/09/2010	1.47	1.21	-17.69
CUSTODYINS	30/09/2010	2.62	2.22	-15.27
RTBRISCOE	30/09/2010	3.11	2.70	-13.18
ASHAKACEM	30/09/2010	22.80	20.00	-12.28
OCEANIC	30/09/2010	1.20	1.08	-10.00
AP	30/09/2010	29.53	26.66	-9.72
GLAXOSMITH	30/09/2010	27.55	24.91	-9.58
7UP	30/09/2010	40.84	36.95	-9.52
FTNCOCOA	30/09/2010	0.73	0.67	-8.22
UNITYBNK	30/09/2010	0.76	0.70	-7.89
WEMABANK	30/09/2010	0.91	0.84	-7.69
FIDSON	30/09/2010	3.00	2.77	-7.67
WAPIC	30/09/2010	0.54	0.50	-7.41
GTASSURE	30/09/2010	1.53	1.42	-7.19
FCMB	30/09/2010	5.95	5.53	-7.06
STERLNBANK	30/09/2010	1.55	1.45	-6.45
NSE INS	30/09/2010	148.79	141.24	-5.07
UAC-PROP	30/09/2010	19.00	18.05	-5.00
TOTAL	30/09/2010	237.50	225.63	-5.00
CAP	30/09/2010	33.43	31.76	-5.00
PRESCO	30/09/2010	6.65	6.32	-4.96
OKOMUOIL	30/09/2010	12.40	11.80	-4.84
HONYFLOUR	30/09/2010	5.18	4.93	-4.83
NIGERINS	30/09/2010	0.84	0.80	-4.76
BAGCO	30/09/2010	2.11	2.01	-4.74
EVANSMED	30/09/2010	1.30	1.24	-4.62
NASCON	30/09/2010	5.76	5.50	-4.51
UTC	30/09/2010	0.90	0.86	-4.44
AFRIBANK	30/09/2010	1.40	1.34	-4.29
VITAFOAM	30/09/2010	6.40	6.14	-4.06
GOLDINSURE	30/09/2010	0.52	0.50	-3.85
CCNN	30/09/2010	13.50	13.00	-3.70
BECOPETRO	30/09/2010	0.83	0.80	-3.61
REDSTAREX	30/09/2010	2.95	2.90	-1.69
CONTINSURE	30/09/2010	1.20	1.18	-1.67
LIVESTOCK	30/09/2010	0.63	0.62	-1.59
FLOURMILL	30/09/2010	58.00	57.10	-1.55
ECOBANK	30/09/2010	3.64	3.59	-1.37
GUARANTY	30/09/2010	14.79	14.59	-1.35
IBTC	30/09/2010	7.60	7.50	-1.32
BERGER	30/09/2010	8.06	8.00	-0.74
NSE O&G	30/09/2010	332.00	329.91	-0.63
GUINNESS	30/09/2010	171.00	170.00	-0.58
NBC	30/09/2010	35.00	34.85	-0.43
MAYBAKER	30/09/2010	4.12	4.11	-0.24

For 30/09/2010 the closing price was 23,050.58(NSE INDEX)
Overall, the bias in prices is: DOWNWARDS.
Short term: Prices are STALLING
Intermediate term: Prices are TRENDING
The projected upper bound is: 23,560.91.
The projected lower bound is: 22,470.90.
The projected closing price is: 23,015.90.
Note: these price projections are for reference only, and can be easily exceeded by the market. market.

For 30/09/2010 the closing price was 976.80(NSE30)
Overall, the bias in prices is: DOWNWARDS.
Short term: Prices are STALLING
Intermediate term: Prices are TRENDING.
The projected upper bound is: 999.79
The projected lower bound is: 951.62
The projected closing price is: 975.71
Note: these price projections are for reference only, and can be easily exceeded by the market.

For 30/09/2010 the closing price was 336.29.(NSE BANKING)
Overall, the bias in prices is: DOWNWARDS
Short term: Prices are MOVING
Intermediate term: Prices are TRENDING
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 349.34
The projected lower bound is: 321.93.
The projected closing price is: 335.63.
Note: these price projections are for reference only, and can be easily exceeded by the market. market.

For 30/09/2010 the closing price was 718.02.(NSE FOOD, BEV.& TOBACCO)
Overall, the bias in prices is: DOWNWARDS.
Short term: Prices are STALLING.
Intermediate term: Prices are TRENDING.
The projected upper bound is: 738.81
The projected lower bound is: 693.71.
The projected closing price is: 716.26
Note: these price projections are for reference only, and can be easily exceeded by the market.

For 30/09/2010 the closing price was 141.24.(NSE INSURANCE)
Overall, the bias in prices is: Downwards.
Short term: Prices are MOVING.
Intermediate term: Prices are TRENDING.
The projected upper bound is: 146.65.
The projected lower bound is: 144.27.
The projected closing price is: 140.46.
Note: these price projections are for reference only, and can be easily exceeded by the market.

For 30/09/2010 the closing price was 329.91.(NSE OIL & GAS)
Overall, the bias in prices is: DOWNWARDS
Short term: Prices are MOVING
Intermediate term: Prices are TRENDING
The projected upper bound is: 338.28.
The projected lower bound is: 319.14.
The projected closing price is: 328.71.
Note: these price projections are for reference only, and can be easily exceeded by the market.

BELOW ARE TRW STOCKBROKERS STOCKS WATCH LIST FOR MULTIPLE TIME FRAME OF DAILY, WEEKLY & MONTHLY
SHORT TREND TRADERS TO USE MA 5
MEDIUM TREND TRADERS TO USE MA-50
LONG TERM TRADERS TO USE MA-100
MA (MOVING AVERAGE)

ticker	date/time	MA-100	MA-50	MA-5	Overall Trend	Trend Phase	Comments
7UP	30/09/2010	-	-	- - -	Down Trend	Initial	Watch Trend?
ABCTRANS	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
ACADEMY	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
ACCESS	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
AFRIBANK	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
AFROMEDIA	30/09/2010	+	+	+	Up Trend	Initial	Stay with Trend
AGLEVENT	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
AIICO	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
AP	30/09/2010	-	-	- -	Down Trend	Initial	Watch Trend?
ASHAKACEM	30/09/2010	-	+	- -	No Trend	Initial	trading range-avoid
BAGCO	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
BCC	30/09/2010		+	+	No Trend	Initial	live to trade another day
BECOPETRO	30/09/2010	-	-	-	Down Trend		Watch Trend?
BERGER	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
BIGTREAT	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
CADBURY	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
CAP	30/09/2010	+	+	- -	No Trend	Initial	Risk for short term reversal
CAPHOTEL	30/09/2010	+			No Trend	Initial	live to trade another day
CAPOIL	30/09/2010	-			Down Trend	Initial	Watch Trend?
CCNN	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
CHAMS	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
CHEVRON	30/09/2010	+	-		No Trend	Progress	live to trade another day
CONOIL	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
CONTINSURE	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
CORNERST	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
COSTAIN	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
CRUSADER	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
CUSTODYINS	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
CUTIX	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
DAARCOMM	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
DANGFLOUR	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
DANGSUGAR	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
DIAMONDBNK	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
DUNLOP	30/09/2010				Down Trend	Progress	Watch Trend?
ECOBANK	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
EQUITYASUR	30/09/2010				Down Trend	Progress	Watch Trend?
ETERNAOIL	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
ETI	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
EVANSMED	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
FCMB	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
FIDELITYBK	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
FIDSON	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
FIRSTBANK	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
FIRSTINLND	30/09/2010	-			Down Trend	Initial	Watch Trend?
FLOURMILL	30/09/2010	-	- -	-	Down Trend	Initial	Watch Trend?
FTNCOCOA	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
GLAXOSMITH	30/09/2010	+	-	- -	No Trend	Initial	live to trade another day
GOLDINSURE	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
GTASSURE	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
GUARANTY	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
GUINNESS	30/09/2010	+	+	-	No Trend	Initial	Risk for short term reversal
HMARKINS	30/09/2010				Down Trend	Initial	Watch Trend?
HONYFLOUR	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
IBTC	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
IKEJAHOTEL	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
INTBREW	30/09/2010	+	+	+	Up Trend	Progress	Stay with Trend
INTENEGINS	30/09/2010	-			Down Trend	Initial	Watch Trend?
INTERCONT	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
JAPAULOIL	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
JBERGER	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
JOHNHOLT	30/09/2010	-			Down Trend	Progress	Watch Trend?
LASACO	30/09/2010	-			Down Trend	Initial	Watch Trend?
LAWUNION	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
LIVESTOCK	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
MAYBAKER	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
MBENEFIT	30/09/2010	-			Down Trend	Progress	Watch Trend?
MOBIL	30/09/2010	-	- - -		Down Trend	Initial	Watch Trend?
MULTIVERSE	30/09/2010				Down Trend	Progress	Watch Trend?
NAHCO	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
NAMPAK	30/09/2010	-	-		Down Trend	Progress	Watch Trend?
NASCON	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
NB	30/09/2010	+	+	+ + +	Up Trend	Initial	Stay with Trend
NBC	30/09/2010	-	+	-	No Trend	Initial	trading range-avoid
NCR	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
NEIMETH	30/09/2010	+	-		No Trend	Initial	live to trade another day
NEM	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
NESTLE	30/09/2010	+ +	+	+ + +	Up Trend	Progress	Stay with Trend
NIG-GERMAN	30/09/2010	-	-		Down Trend	Progress	Watch Trend?
NIGERINS	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
NIWICABLE	30/09/2010	+	-	+	No Trend	Initial	trading range-avoid
NSE	30/09/2010	- - -	- - -	+ + +	No Trend	Initial	Risk for short term reversal
NSE 30	30/09/2010	- - -	- - -	+ + +	No Trend	Initial	Risk for short term reversal
NSE BANKING	30/09/2010	- - -	- - -	+ + +	No Trend	Initial	Risk for short term reversal
NSE F&B	30/09/2010	- - -	- - -	+ + +	No Trend	Initial	Risk for short term reversal
NSE INS	30/09/2010	- - -	- - -	- - -	Strong Down Trend		Watch Trend?
NSE O&G	30/09/2010	- -	- - -	- - -	Strong Down Trend	Initial	Watch Trend?
OANDO	30/09/2010	- -	-	+ +	No Trend	Initial	Risk for short term reversal
OASISINS	30/09/2010	-	-		Down Trend	Progress	Watch Trend?
OCEANIC	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
OKOMUOIL	30/09/2010	-	-	-	Down Trend	Progress	Watch Trend?
PLATINUM	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
PRESCO	30/09/2010	-	+	-	No Trend	Initial	trading range-avoid
PZ	30/09/2010	+	-	+	No Trend	Initial	trading range-avoid
REDSTAREX	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
ROYALEX	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
RTBRISCOE	30/09/2010	-	-	-	Down Trend	Progress	Watch Trend?
SCOA	30/09/2010	-			Down Trend	Progress	Watch Trend?
SKYEBANK	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
SKYESHELT	30/09/2010	-	-	- - -	Down Trend		Watch Trend?
SPRINGBANK	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
STARCOMMS	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
STDINSURE	30/09/2010	-			Down Trend	Initial	Watch Trend?
STERLNBANK	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
TANTALIZER	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
TOTAL	30/09/2010	+	- -	- - -	No Trend	Progress	live to trade another day
TRANSCORP	30/09/2010				Down Trend	Initial	Watch Trend?
TRIPPLEG	30/09/2010	-	-		Down Trend	Progress	Watch Trend?
UAC-PROP	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
UACN	30/09/2010	-	-	+ +	No Trend	Initial	Risk for short term reversal
UBA	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
UBN	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal
UNHOMES	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
UNIC	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
UNILEVER	30/09/2010	-	+	+	No Trend	Initial	live to trade another day
UNIONDAC	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
UNITYBNK	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
UNIVINSURE	30/09/2010				Down Trend	Progress	Watch Trend?
UNTL	30/09/2010	-	-	-	Down Trend	Progress	Watch Trend?
UPL	30/09/2010	-	-		Down Trend	Initial	Watch Trend?
UTC	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
VITAFOAM	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
WAPCO	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
WAPIC	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
WEMABANK	30/09/2010	-	-	-	Down Trend	Initial	Watch Trend?
ZENITHBANK	30/09/2010	-	-	+	No Trend	Initial	Risk for short term reversal

This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. TRW accepts no liability whatsoever for any loss arising from any use of this expert or its contents.

INVEST FOR A GOLDEN TOMORROW

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