CAVEAT EMPTOR-BUYERS BEWARE

I have been extremely busy lately with some stuffs and that is why I am just posting today.I would have left what I am about to write till next week but it might be too late by next week.
I feel i should let you know what I feel about the rapid appreciation in price of most stocks on the floor of the exchange for the past two weeks.You would recall that I predicted in my last post that the appreciation in price of most securities will continue this year. I am however of the opinion that the price of some of the stocks that are appreciating rapidly does not justify the increase.A phenomenon which I have chosen to refer to as 'appreciation without fundamentals'.What is a stock like Avon crown caps and container doing at N14 ,Oando @ 200naira in my own opinion is expensive and what of Nigerian wire and cable that is only a strolling distance from my house.This company just opened again for business after it went to sleep for more than a year.Don't forget that the company is not enjoying a monopoly and a price of 12naira is laughable.
Note: The fact that I believe these and many other stocks are expensive does not mean they are not going to appreciate further but I am only saying caveat emptor...Don't get your fingers burnt.