ISX ready for lift-off

[k98nights]

ISX ready for lift-off

January 7th, 2011 by DeWeaver

The Iraq Stock Exchange ended the year with a bang last month, with Rabee Securities’ RSISX index rising 8.8% in the final two weeks of trading. Having been down as much as 10% year-to-date in early October, this index actually managed to close 2010 up 1.7%. Volume in the final week rose above IQD 10 bn for the first time since May to IQD 11.9 bn (US$ 10.2 mn), more than double the previous week’s IQD 4.5 bn.

During the holiday shortened first week of 2011 (consisting of only January 4 and 5) there were more positive signs. In just those two days the RSISX rose a further 6.7%, while volume came to IQD 12.9 billion, of which Baghdad Soft Drinks (IBSD) accounted for 72%. IBSD has been limit up for three days in a row, starting on December 23 (the last trading day of 2010), when the shares finally resumed trading following a six month suspension due to a capital increase.

Even more exciting market action can be expected in 2011. With the formation of the new government now a done deal, the stage has been set for a return to the pre-insurgency peaks of 2004-2005 when IBSD got as high as 8.55, compared to just 1.33 today, INCP, now only 4.45, reached 27.22, and BCOI, which last traded at 1.39, peaked at 7.78. (Old highs are adjusted for subsequent capital increases. See my November 2 post for more examples.)

And there’s no reason prices should stop at those levels. This time there will be much more money chasing Iraqi stocks as investors from Iraq’s oil-rich neighbors and the Iraq funds now being marketed around the world scramble to get in. But the supply of stock isn’t going to be all that much greater than it was five years ago. These buyers may start out cautiously, trying not to push too hard while filling enormous orders, but will soon find that they have no alternative but to bid wildly. Then the market will truly go ballistic, gapping up over a series of weeks until the supply-demand equilibrium is finally reached at some stratospheric new level.

http://www.iraq-businessnews.com/2011/01/07/isx-ready-for-lift-off-2/?wpmp_switcher=mobile

[Danneedsrvnow]

Even more exciting market action can be expected in 2011. With the formation of the new government now a done deal

Interesting statement........"done deal"

Wonder what this is to really imply........if the GOI is indeed done, or that it's so close you might assume it's done.

It's not "done" for me, without the official announce!

Thanks for the post k98

Dan

[Plumb Crazy]

Any action is good action! Thanks for the post. Go RV!!!!!

[singaporesling]

Hey K98, I've got stock in Bank of Baghdad and Modern Construction Materials; do you think those two are good bets based on the fact that Iraq is out from under Chapter 7 now?

[Frank61]

Hey K98, I've got stock in Bank of Baghdad and Modern Construction Materials; do you think those two are good bets based on the fact that Iraq is out from under Chapter 7 now?

I know I think they are good bets.

ISX ready for lift-off

January 7th, 2011 by DeWeaver

The Iraq Stock Exchange ended the year with a bang last month, with Rabee Securities’ RSISX index rising 8.8% in the final two weeks of trading. Having been down as much as 10% year-to-date in early October, this index actually managed to close 2010 up 1.7%. Volume in the final week rose above IQD 10 bn for the first time since May to IQD 11.9 bn (US$ 10.2 mn), more than double the previous week’s IQD 4.5 bn.

During the holiday shortened first week of 2011 (consisting of only January 4 and 5) there were more positive signs. In just those two days the RSISX rose a further 6.7%, while volume came to IQD 12.9 billion, of which Baghdad Soft Drinks (IBSD) accounted for 72%. IBSD has been limit up for three days in a row, starting on December 23 (the last trading day of 2010), when the shares finally resumed trading following a six month suspension due to a capital increase.

Even more exciting market action can be expected in 2011. With the formation of the new government now a done deal, the stage has been set for a return to the pre-insurgency peaks of 2004-2005 when IBSD got as high as 8.55, compared to just 1.33 today, INCP, now only 4.45, reached 27.22, and BCOI, which last traded at 1.39, peaked at 7.78. (Old highs are adjusted for subsequent capital increases. See my November 2 post for more examples.)

And there’s no reason prices should stop at those levels. This time there will be much more money chasing Iraqi stocks as investors from Iraq’s oil-rich neighbors and the Iraq funds now being marketed around the world scramble to get in. But the supply of stock isn’t going to be all that much greater than it was five years ago. These buyers may start out cautiously, trying not to push too hard while filling enormous orders, but will soon find that they have no alternative but to bid wildly. Then the market will truly go ballistic, gapping up over a series of weeks until the supply-demand equilibrium is finally reached at some stratospheric new level.

http://www.iraq-businessnews.com/2011/01/07/isx-ready-for-lift-off-2/?wpmp_switcher=mobile

This is awsome. So we have a high demand with a limited supply. Its a great place to be. I credit Adam M with teaching me how important it is to get into the ISX and buy stock, not just let your money sit in a account getting simple interest. I now am invested in 8 companies and hold some 6 million of shares !! Im not done buying yet.

[gp49]

Frank61

Thanks

[bethany]

Frank61,

Could you share the stocks you are in? If not, where can i have information regarding the ISX or someone who can give me advice.

Thanks,

[djgabrielie]

K98 thanks for the post... did you read some of the comments to that post?

Wow that's all I can say.

I too would like 3 sources for brokers on the ISX

[Maureen39]

Frank61,

Could you share the stocks you are in? If not, where can i have information regarding the ISX or someone who can give me advice.

Thanks,

Bank of Baghdad, and symbols for the rest : BDSI, BGUC, BUND.....banks NDSA...insurance INCP....national chemical INSD and IBSD.......soda companys. I will buy warka bank and Iraq for general transport when they trade.

A good source is Rabee securities website. It is easy on the eyes.

[bethany]

Thanks a bunch!!!!

[Frank61]

Thanks a bunch!!!!

That post was from my Mom, her first one !

[rw.sutton]

That post was from my Mom, her first one !

Welcome mom, I like reading after your son..

[steveo]

Does anyone know if you can set up a trading account from Canada or is it just possible for US citizens? If anybody can give me more info on this that would be great.

Thanks!!