The Nigerian stock market, last week, showed a robust sign of revving up for a rebound. Great! As I suggested last week, majority of stocks that showed promise of northward expression were in the banking and insurance sectors. On paper, there is so much money to be made with recently stricken otherwise blue chip stocks in the banking sector baring beggarly price tags with humbling price earning ratio after the onslaught of the bears.

However, I believe it is not yet time to run into the fray as the bulls take on the bears to change the character of the market. Whoever did not buy when the market was abysmally low should be patient enough to rest out the initial face of the upward swing, this is the way I see it and it’s going to be my position.

I have a hunch feeling the first set of price rising would benefit the skillful speculators that would be on the lookout to off load relative price increase on the easily excited peripheral market players that, expectedly would rush into the market, desperate to share in the lapping of the juice.

I’ll suggest you let the institutional players set the tone, they have bagful of funds, in another two weeks we should know where the market is truly headed for.

So, if you belong in my investment family, I counsel that you play the calm in the storm of the recent excitement.