Junior Market pulled back on Tuesday

Stocks mostly gained at the close of trading on the Junior Market on Tuesday with the market Index declining 14.45 points to close at 3,218.50 as 25 securities changed hands versus 20 on Monday.
At the close on Tuesday just, with 6 stocks rising, 10 declining and 9 remaining unchanged with an exchange of 1,254,634 units valued at $4,719,006 compared to 1,232,739 units valued at $4,669,444 on Monday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator closed Tuesday with 4 stocks ending with bids higher than their last selling prices, while 2 closed with lower offers.
Trading ended with an average of 50,185 units for an average of $188,760 in contrast to 53,597 units for an average of $203,019 on Monday. The average volume and value for the month to date amounts to 106,499 units valued at $554,839 and previously 114,409 units valued at $518,311. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
At the close of trading, Blue Power concluded trading with a loss of 1 cent at $5.49, with 916 units, Cargo Handlers settled at $13, in trading 7,708 shares, Caribbean Cream ended trading at $6, with 115,002 shares, Caribbean Producers finished trading of 40,261 units, with a loss of 49 cents at $5.51, Consolidated Bakeries closed at $2, with an exchange of 43,693 shares. Derrimon Trading ended at $2.70, with the swapping of 40,500 shares, Dolphin Cove concluded trading with a loss of 8 cents at $14.80, with 2,756 shares changing hands, Elite Diagnostic finished 21 cents higher at $3.40, with an exchange of 2,606 stock units, Everything Fresh lost 10 cents, in closing trading with 75,706 shares to close at of $1.90, Express Catering ended trading of 5,850 shares with a loss of 1 cent at $7.99. FosRich Group traded 95,406 shares, with a loss of 55 cents to end at $3.20, General Accident finished trading 178,900 shares, to close 15 cents higher at $3.75, GWest Corporation closed with a loss of 20 cents at $1.80, with 33,757 stock units trading, Honey Bun ended at $3.99, with 2,900 units passing through the market. Indies Pharma ended trading of 52,586 shares and gained 10 cents to close at $3.10, Jetcon Corporation ended trading with a loss of 7 cents at $3.85, with 70,501 stock units after trading as high as $4.50, Key Insurance traded 300,000 units at $3.25, Lasco Distributors ended with a loss of 10 cents at $3.90, with 4,000 shares being exchanged, Lasco Financial concluded trading 19 cents higher at $5.19, with 4,611 stock units. Lasco Manufacturing finished at $3.17, trading 115,688 units, Main Event settled with a loss of 5 cents at $5.55, with an exchange of 10,200 shares, Medical Disposables ended trading 14,200 shares and close 10 cents higher at $8.10, SSL Venture Capital traded 17,050 shares at $1.81, Stationery and Office finished trading of 19,737 stock units and moved 30 cents higher to $9.50 and tTech ended activity at $6, in exchanging just 100 shares.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market gained on Monday

The Junior Market followed up gain on Friday with another increase on Monday with the market Index advancing 17.44 points to close at 3,232.95.
At the close on Monday just 23 securities changed hands versus 20 on Friday, with 5 stocks rising, 10 declining and 8 remaining unchanged leading the Junior Market Index to gain 14.49 points to close at 3,215.12
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading turned positive at the close of Monday with 5 stocks ending with bids higher than their last selling prices, while one closed with a lower offer.
The day’s activity ended with an exchange of 1,232,739 units valued at $4,669,444 compared to 1,378,210 units valued at $4,765,299 on Friday.
Trading ended with an average of 53,597 units for an average of $203,019 in contrast to 68,911 units for an average of $238,265 on Friday. The average volume and value for the month to date amounts to 114,409 units valued at $518,311 and previously 123,432 units valued at $565,096. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
At the close of trading, Access Financial lost 50 cents to close at $49.50, in trading 175 shares, Cargo Handlers settled at $13, in exchanging 200 shares, Caribbean Cream ended trading 70 cents higher at $6, with 9,000 shares, Caribbean Producers traded 2,000 units at $6, Consolidated Bakeries closed at $2 in swapping 150 shares. Derrimon Trading ended with a loss of 8 cents at $2.70, as 50,945 shares changed hands, Elite Diagnostic finished with a loss of 21 cents at $3.19, with an exchange of 17,459 stock units, Everything Fresh closed trading with 27,394 shares to close at $2, Express Catering ended trading at $8, with 10,000 shares, FosRich Group traded 28,212 shares with an increase of 55 cents to $3.75. General Accident finished trading 2,400 shares and rose 10 cents to close at $3.60, GWest Corporation closed 10 cents higher at $2, with 1,913 stock units changing hands, Honey Bun ended with a loss of 1 cent at $3.99, while exchanging 7,530 units, Jamaican Teas settled with a loss of 5 cents at $3.90, with 13,115 shares trading. Indies Pharma ended trading 130,739 shares and declined 10 cents to close at $3, Jetcon Corporation ended trading 17 cents higher at $3.92, with 246,091 stock units, Knutsford Express closed at $12, in trading 1,200 shares, Lasco Distributors ended with a loss of 5 cents at $4, with 189,595 shares changing hands, Lasco Financial concluded trading with a loss of 25 cents at $5, with 160,971 stock units. Lasco Manufacturing lost 1 cent to close at $3.17, with 312,100 units, Medical Disposables ended trading 10,000 shares with a loss of 30 cents at $8, SSL Venture Capital traded 10,000 shares at $1.81 and Stationery and Office finished trading 1,550 stock units at $9.20.
Prices of securities trading for the day are those at which the last trade took place.

Stocks to Watch This week

NCB Financial Constant Spring Road.

Last week’s stock to watch, former IC Top 10 listing, NCB Financial, released record full year results and announced an interim dividend of 70 cents per share with investors welcoming the news by driving the stock to a record intraday high of $135.
The stock closed the week at $133 with good volume passing through the market. Demand is building for NCB Financial between $125 and $131, with offers at $133, $135 and then at $138. The stock could make more gains in the week if demands picks up. Technical chart shows NCB Financial heading to $155, an area of potential resistance, that means that the current price is not very far from the short-term target.
This coming week, several companies will report results for the third quarter. Some of them could result in stock price movements. Other stocks to watch this week are Stationery and Office Supplies that should report third quarter results that should benefit from profit from the new book manufacturing business as well as from contract that was being worked on from the second quarter and slated for completion in the third quarter. Seprod is another to watch, now that the allocation of the 92 million shares that were recently offered to the public should be known on Monday. Third quarter results will be pasted during the week but when that is combined with the likelihood that many investors will end up getting only a small amount of the shares they applied for, it will be anyone guess what impact both could have on the price in the secondary market.
Following the release of full years’ results with an increase of 84 percent to $374 million and a 315 percent increase in the last quarter to $193 million at Barita Investments, investors have been buying the stock in a second wave of demand, its one to be watched going forward. The Jamaica Stock Exchange has been enjoying increasing trading in the second half of the year and this is expected to provide a big boost in profit for the quarter and year to date, the stock should benefit in the coming week from this.

Scotia Group eases into IC Top 10

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Scotia Group could see strong growth in 2019 profit.

The big news this week is the entry of Scotia Group to the main market TOP 10 with a fall in the price to $50 at the close of the week. Based on IC Insider.com forecast, Scotia is set to earn around $4.60 for the 2018 year to October with the PE at just 11 times earnings.
Scotia replaced Berger Paints that was merely squeezed out to sit just outside the TOP 10 at the number 11 spot. Top 10 list movements were modest for the past week, following the previous week of volatility. In the Junior Market, Honey Bun sneaked into the TOP 10 by easing out Jamaican Teas in the process.
Scotia Group, reported flat profits for the nine months from normal ongoing operations. Gains from sales of Credi Scotia and exceptional foreign exchange gains in the July quarter push profit up well above that of 2017. Importantly, the best indicator going forward for increased profitability, is growth in loans. During the July quarter loans grew a strong 3.7 percent between April which works out at an attractive 15 percent per year that should equate to 25-30 percent profit growth in 2019 if the trend continues.
The main market closed the week with the overall PE slipping to 15.3 from 15.6 from the previous week, the PE of the Junior market remained unchanged at 5.5 from the prior week.
The PE ratio for Junior Market Top 10 stocks average 9.3 and the main market PE is now 9.7.
The TOP 10 stocks now trade at an average discount of 40 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings. The main market stocks trade at a discount of 37 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis based on new information received that can result in changes in and out of the list as well.

Junior Market seems poised to rally on Monday

Bulls prowling around Junior Market.

The Junior Market rose on Friday and seems poised to further the gains on Monday with the IC bid-offer Indicator flashing strong positive signals at the close of trading.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading turned positive at the close of Friday with 7 stocks ending with bids higher than their last selling prices, while none closed with a lower offer.
At the close on Friday just 20 securities changed hands versus 22 on Thursday, with 10 stocks rising, 4 declining and 6 remaining unchanged leading the Junior Market Index to gain 14.49 points to close at 3,215.12
The day’s activity ended with an exchange of 1,378,210 units valued at $4,765,299 compared to 2,355,219 units valued at $9,942,794 on Thursday.
Trading ended with an average of 68,911 units for an average of $238,265 in contrast to 107,055 units for an average of $451,945 on Thursday. The average volume and value for the month to date amounts to 123,432 units valued at $565,096 and previously 131,510 units valued at $613,516. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
At the close of trading, Access Financial closed 73 cents higher at $50, with an exchange of 500 shares, Caribbean Cream gained 30 cents to close at $5.30, trading 7,000 shares, Caribbean Producers traded 25,912 stock units, at $6, Consolidated Bakeries finished trading at $2, with an exchange of 17,000 units, Derrimon Trading closed 3 cents higher at $2.78, with 22,000 shares being traded, Elite Diagnostic concluded trading of 53,251 shares, rising 20 cents in closing at $3.40, Express Catering settled 15 cents higher at $8, swapping 23,000 units, FosRich Group ended trading 112,015 shares at $3.20, GWest Corporation finished trading at $1.90, with an exchange of 12,160 shares, Honey Bun closed at $4, trading 12,000 stock units. Indies Pharma ended trading 651,500 shares and rose 10 cents to close at $3.10, Iron Rock ended with a loss of 1 cent at $4.99, trading 10,008 units, Jetcon Corporation closed 5 cents higher at $3.75, with 6,486 shares changing hands, Key Insurance ended trading 2,950 stock units and rose 17 cents to $3.25, KLE Group traded 40 cents higher at $3.90, with 4,321 units. Lasco Distributors gained 6 cents to $4.05 and closed with the trading of 257,905 shares, Lasco Financial ended with a loss of 5 cents at $5.25, while 1,500 shares were exchanged, Lasco Manufacturing concluded trading with a loss of 2 cents at $3.18, with 148,536 stock units, Medical Disposables settled with a loss of 70 cents at $8.30, exchanging 2,000 shares and Stationery and Office traded 8,166 shares at $9.20.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market down could slip further

Negative movement in the Junior Market continued on Wednesday with 20 securities changing hands versus 26 on Tuesday, with just 4 stocks rising, 8 declining and 8 remained unchanged leading the Junior Market Index to fall 23.46 points to close at 3,219.22.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading flashed negative sentiments with 7 stocks ending with bids higher than their last selling prices, while 7 closed with lower offers.
The day’s activity ended with an exchange of 1,116,649 units valued at $4,642,267 compared to 1,035,040 units valued at $4,104,381 on Tuesday.
Trading ended with an average of 55,832 units for an average of $232,113 in contrast to 39,809 units for an average of $157,861 on Tuesday. The average volume and value for the month to date amounts to 136,271 units valued at $644,972 and previously 153,569 units valued at $733,759. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
At the close of trading, AMG Packaging ended with a loss of 2 cents at $1.88, with 1,676 stock units changing hands, CAC 2000 finished market activity at $16, in exchanging 15,000 shares, Caribbean Cream dropped $1 to $5 and ended trading 30,000 shares, Derrimon Trading ended 20 cents higher at $2.80, with 1,526 shares changing hands, Elite Diagnostic closed 18 cents higher at $3.20, with the trading of 14,275 stock units. Eppley settled at $8, with 24,500 units changing hands, Everything Fresh ended trading of 100,000 shares, to close at $1.80, Express Catering traded 8,788 shares in closing at $8, FosRich Group traded 190,099 shares in rising 60 cents to $3.80, General Accident finished trading 1,797 shares with a loss of 25 cents and ending at $3.50. Indies Pharma ended trading of 134,987 shares at $3, Jetcon Corporation gained 10 cents to close at $3.85, in exchanging 343,605 stock units, KLE Group finished trading with a loss of 30 cents at $3.50, with 5,560 shares changing hands, Knutsford Express closed at $12, with 13,870 shares trading, Lasco Distributors ended with a loss of 4 cents at $3.95, with 76,656 shares changing hands. Lasco Financial concluded trading with a loss of 3 cents at $5.37, in exchanging 25,570 stock units, Lasco Manufacturing finished with a loss of 2 cents at $3.40, with 1,464 units changing hands, Main Event settled at $6, trading 13,118 shares, SSL Venture Capital traded 57,508 shares at $2 and Stationery and Office finished trading with a loss of 19 cents at $9.01, with 56,650 stock units.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market falls again on Monday

Trading ended on the Junior Market with 24 securities changing hands versus 20 on Friday, with 8 stocks rising, while 7 declined and 9 remained unchanged resulting in the Junior Market Index declining 29.23 points to close at 3,239.48.
The day’s activity ended with an exchange of 1,167,494 units valued at $4,279,897 compared to 10,752,516 units valued at $53,885,826 on Friday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 6 stocks ending with bids higher than their last selling prices, while 4 closed with lower offers.
Trading ended with an average of 48,646 units for an average of $178,329 in contrast to 537,626 units for an average of $2,694,291 on Friday. The average volume and value for the month to date amounts to 197,715 units valued at $957,242 and previously 280,916 units valued at $1,391,984. October ended with an average of 69,421 units valued at $347,455 for each security traded.
At the close of trading, AMG Packaging ended 3 cents higher at $1.88, with 213,003 stock units changing hands, Caribbean Cream traded 2,000 shares at $6, Caribbean Producers finished trading 6,970 units and rose 48 cents to close at $6, Derrimon Trading ended 10 cents higher at $2.60, exchanging 34,596 shares, Eppley settled at $8, with 15,993 units changing hands. Everything Fresh rose 4 cents in trading 10,950 shares, to close at $1.99, Express Catering ended trading 76,081 shares at $8, FosRich Group rose 43 cents to $3.63, with 319,784 shares changing hands, General Accident finished trading 2,500 shares, with a loss of 25 cents at $3.50, Honey Bun ended at $4.14, with 100 units changing hands. Indies Pharma gained 15 cents to close at $3.15 in the exchange of 56,960 shares, Iron Rock concluded trading at $5, with 2,000 shares, Jamaican Teas settled with a loss of 19 cents at $3.90, with 16,966 shares changing hands, Jetcon Corporation ended trading 111,887 stock units and rose 4 cents to $3.75 at the close, KLE Group finished trading 13,715 shares with a loss of 10 cents at $3.80. Knutsford Express closed trading at $11.80, with 1,417 shares, Lasco Distributors ended at $4, with 13,218 shares changing hands, Lasco Financial concluded trading of 47,629 stock units 30 cents higher at $5.30, Lasco Manufacturing finished with a loss of 10 cents at $3.30, with 131,207 units changing hands. Main Event settled with a loss of 49 cents at $5.96, with 52,256 shares, Paramount Trading fell 5 cents to $2.70, with 13,878 shares changing hands, SSL Venture Capital traded 16,821 shares at $2, Stationery and Office finished trading with a loss of 20 cents at $9, with 6,950 stock units and tTech ended at $6, with 613 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Just one change in IC Top 10

Changes in IC Insider.com Top 10 list were modest for the past week which followed a previous week of volatility.
tTech moved back in price to $6 from $5 and moved out of the Junior Market TOP stocks to be replaced by Caribbean Producers that fell to $6 from $6.80 at the end of the previous week. These were the only movement in and out of the TOP 10.
Investors should keep an eye open for former Top stock, NCB Financial that should be releasing full year results and announcing final dividend for 2018, on Thursday
The main market closed the week with the overall PE slipping to 15.6 from 15.4 from the previous week, the PE of the Junior market moved up to 15.4 from 15.4 at the close of the prior week.
The PE ratio for Junior Market Top 10 stocks average 9.2 and the main market PE is now 9.9.
The TOP 10 stocks now trade at an average discount of 41 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings. The main market stocks trade at a discount of 37 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis based on new information received that can result in changes in and out of the list as well.
There will be no Market Watch report for this week.

Junior Market slips again on Friday

Lasco Financial profit dropped 39% in 2018 Q2.

Lasco Financial posted 39 percent lower profit for the September quarter than in 2017 after the market closed on Thursday, the stock traded up to $5.95, shortly after the market opened but shortly before the close 10 million units were pushed through with the stock ending at $5.
Trading ended with 20 securities changing hands, versus 23 on Thursday, with 8 stocks rising, while 10 declining and 2 remained unchanged. At the end of trading the Junior Market Index declined 4.80 points to close at 3,268.71, with 10,752,516 units valued at $53,885,826 changing hands, compared to 1,326,877 units valued at $5,969,489 on Thursday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 6 stocks ending with bids higher than their last selling prices, while 2 closed with lower offers.
Trading ended with an average of a mere 537,626 units for an average of $2,694,291 in contrast to 57,690 units for an average of $259,543 on Thursday. The average volume and value for the month to date amounts to 280,916 units valued at $1,391,984. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
At the close of trading, Access Financial closed with a loss of $2.73 at $49.27, with 750 shares trading, AMG Packaging ended with a loss of 10 cents at $1.85, with 318,796 stock units, Blue Power concluded trading of 4,940 units at $6, Caribbean Cream ended trading 36,886 shares, 35 cents higher at $6, Consolidated Bakeries closed with a loss of 30 cents at $2, with 15,000 shares changing hands. Elite Diagnostic finished trading 25,351 stock units, with a loss of 16 cents to end at $3.02, Eppley settled with a loss of 10 cents at $8, with 3,000 units changing hands, Everything Fresh fell 5 cents in trading 53,824 shares, to close at $1.95, Express Catering ended trading of 400 shares and climbed 17 cents higher to $8, FosRich Group traded 13,152 shares and rose 1 cent higher to $3.20. GWest Corporation closed 10 cents higher at $1.80, with 84,012 stock units trading, Honey Bun ended 33 cents higher at $4.14, with 4,100 units changing hands, Indies Pharma closed with a loss of 30 cents at $3 exchanging 74,333 share, Jamaican Teas settled with a loss of 1 cent at $4.09, with 3,000 shares changing hands, KLE Group finished trading 3,321 shares at $3.90. Lasco Distributors ended at $4, with the trading of 53,571 shares, Lasco Financial concluded trading of 10,004,955 stock units with a loss of 40 cents at $5, Lasco Manufacturing finished 10 cents higher at $3.40, with 38,650 units, Main Event gained 35 cents to end at $6.45, with 14,211 shares changing hands and Stationery and Office finished trading 264 stock units and climbed 20 cents to $9.20.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market down again – Tuesday

Medical Disposables traded at new all-time high of $10.

The Junior Market Index lost 18.06 points to close at 3,289.45, on Tuesday with 29 securities trading, versus 26 on Monday. At the close 11 advanced, 10 declined and 8 remained unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 9 stocks ending with bids higher than their last selling prices, while 3 closed with lower offers.
The market traded just 1,044,222 units valued at $3,800,904, compared to 758,861 units valued at $3,466,162 on Monday.
Trading ended with an average of a mere 36,008 units for an average of $131,066 in contrast to 29,187 units for an average of $133,314 on Monday. The average volume and value for the month to date amounts to 59,915 units valued at $276,934 and previously 61,226 units valued at $280,213. September, ended with an average of 484,335 at $2,628,299 for each security traded.
At the close of trading, AMG Packaging ended trading at $1.80, with 108,833 stock units exchanged, CAC2000 finished trading 200 shares at $16, Caribbean Cream ended with a loss of $1.10 at $5.65, trading 20,000 shares, Caribbean Flavours traded 510 stock units and rose $1 to $18, Caribbean Producers finished trading with a loss of 1 cent at $6.50, with 40,000 units. Consolidated Bakeries closed with a loss of 11 cents at $2.29, in exchanging 167 shares, Derrimon Trading ended with a loss of 41 cents at $2.41, in trading of 46,715 shares, Elite Diagnostic finished trading 28,229 stock units at $3.17, Eppley settled with a loss of 85 cents at $8.15, with 1,000 units changing hands. Everything Fresh fell 6 cents in trading 18,369 shares, to close at $2, Express Catering ended trading 6,486 shares and rose 10 cents to $8.10, FosRich Group traded at $3.10, in exchanging 103,268 shares, General Accident finished trading 1,500 shares and closed 25 cents higher at $3.75, GWest Corporation closed 10 cents higher at $1.70, with 23,477 stock units. Honey Bun ended with a loss of 5 cents at $4.05, trading 61,379 units, Indies Pharma rose 10 cents and closed at $3.20 with 128,477 shares changing hands, Iron Rock concluded trading 20 cents higher at $5, in swapping 9,500 shares, ISP Finance finished trading 3,300 shares at $20, Jamaican Teas settled with a loss of 9 cents at $4, in exchanging 2,435 shares. Jetcon Corporation gained 20 cents to end at $3.70, in trading 298,550 stock units, Knutsford Express closed 20 cents higher at $12, with 366 shares changing hands, Lasco Distributors ended at $4, in exchanging 83,099 shares, Lasco Financial concluded trading of 16,666 stock units and closed 5 cents higher at $5.50. Lasco Manufacturing finished with a loss of 16 cents at $3.60, exchanging 16,031 units, Main Event settled 40 cents higher at $6.50, trading 1,000 shares, Medical Disposables jumped $2.50 to an all-time high of $10, with 9,174 shares being exchanged, Paramount Trading ended at $2.75, with 300 shares changing hands, SSL Venture Capital traded 7,173 shares but lost 5 cents to close at $2 and Stationery and Office finished trading of 8,018 stock units at $9.50.
Prices of securities trading for the day are those at which the last trade took place.