Nandrolone, directly estrogenic.

[oswaldosalcedo]

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stanozolol too

http://www.sciencedirect.com/science...03720712003838

...both AAS were able to activate membrane rapid signaling involving IGF-I receptor, extracellular regulated protein kinases 1/2 (ERK1/2) and AKT, after binding to estrogen receptor (ER), as confirmed by the ability of the ER antagonist ICI182, 780 to block such activation. The estrogenic activity of nandrolone and stanozolol was further confirmed by their capacity to induce the expression of the ER-regulated gene, CCND1 encoding for the cell cycle regulator cyclin D1...

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and upregulate aromatase



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[DocToxin8]

Well yeah, that's really not a suprise.
However, this experiment is done in vitro on a cancer cell line (of breast tissue),
and when it comes to cancer cell lines you have to remember that genes like P53 (tumor suppressor gene) and usually some oncogenes (increases cell proliferation) are turned off and on respectively.
Thus the cell line will accumulate DNA damage (mutations) without going through apoptosis (P53 should regulate programmed cell death upon accumulated DNA damage), so these cell lines doesn't really behave like normal cells anymore.

But still, the findings is in agreement with what I thought, as I've heard of (yet very uncommon) gyno from stanozolol.
And nandrolone is both a progestin and does aromatise to an estrogen so we allready knew one has to control E while on deca.