Tabuse20:


Very sound picks, 4Play. Given the present situation (covid, oil, looming global recession), what is your general outlook about the market? Obviously, one cannot time it, but it is also wise to observe trends too. Many portfolios are red, and stocks are available at a bargain too. But does one keep throwing in cash regardless? I also read about the possibility of US experiencing hyperinflation if their govt continues this money printing?

I think a wait and see approach is appropriate if, like me, your investment horizon is to buy and hold stocks for up to a year.

The markets bounced off the lows after the Fed injected liquidity but we need positive news about the covid-19 situation to move significantly higher. Otherwise, we are going to be in a stalemate (bouncing back and forth), and even retest the lows if the virus situation doesn't improve.

It's the big tech stocks that I am keen on like, Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOG) for their strong balance sheets but even here I will exercise caution given the stalemate I noted.

I also like Regeneron (REGN), Costco (COST), and Walmart (WMT) for their balance sheets. Unlike the aforementioned tech stocks, I suspect they can trend higher even in a bear market if the covid-19 crisis doesn't improve.

PS: I think hyperinflation out of the question as the Fed's liquidity injection supports asset prices (good for stocks) but hardly flows into the real economy. We should pray to avoid deflation in the US.

OakPearl:

If it's the account opening form you are filling, then enter your debit card details.
They need it to be programmed in the system to enable you fund your trading account shoukd you elect to do so with your card.

It may take about 48 hours to verify your docs.

Sorry to bring you back to this quote OakPearl. For Trove, I am trying to open the account, filled the forms, added the account and now inputting my debit card details, but I keep seeing "pin required" How do I input the pin

Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

lucaschase:


Sorry to bring you back to this quote OakPearl. For Trove, I am trying to open the account, filled the forms, added the account and now inputting my debit card details, but I keep seeing "pin required" How do I input the pin

Your debit card (ATM) pin number and the 3-digit number behind it are required to complete the authentication process.

4Play:


I think a wait and see approach is appropriate if, like me, your investment horizon is to buy and hold stocks for up to a year.

The markets bounced off the lows after the Fed injected liquidity but we need positive news about the covid-19 situation to move significantly higher. Otherwise, we are going to be in a stalemate (bouncing back and forth), and even retest the lows if the virus situation doesn't improve.

It's the big tech stocks that I am keen on like, Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOG) for their strong balance sheets but even here I will exercise caution given the stalemate I noted.

I also like Regeneron (REGN), Costco (COST), and Walmart (WMT) for their balance sheets. Unlike the aforementioned tech stocks, I suspect they can trend higher even in a bear market if the covid-19 crisis doesn't improve.

PS: I think hyperinflation out of the question as the Fed's liquidity injection supports asset prices (good for stocks) but hardly flows into the real economy. We should pray to avoid deflation in the US.

Your analysis is spot-on.
The bolded retailers are currently flying as "man must wak" with or without covid-19.

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

Congrats sir and thanks for opening this thread. I'm completely new to this and would like to try. I want to ask, is there a way to watch your stocks appreciating or depreciating by cents/steps or you simply wake up to see it up somewhere putting you at gain or crashing suddenly putting you at loss? Can I know when to bow out without losing my investments? Can I sell my stocks anytime I want to do so?

Can one buy stock while market is open or it has to be after trading hours?

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

Congrats bro. You were bold to buy that many shares and you held them for this long. You saw it rise to $9 then drop to $7. I bought a few call contracts on monday and I'm up 231%. I was planning to hold it till tomorrow but as I see you've sold your shares, make me sef no get greedy.

I'm eyeballing another biotech stock GNPX, I will like to buy at $2.30/share.

thetelz:
Can one buy stock while market is open or it has to be after trading hours?

You buy when the market is open. Market opens 2:30pm - 9PM naija time.

Snapchat (SNAP) reported a blockbuster earning yesterday and the stock rallied 36% today! I had bought a few Pintrest (PINS) call options monday and they are up 88% as of right now. Other social media stocks are rallying as a result of Snapchat's earnings. Facebook (FB) is up over 7% today while Twitter (TWTR) is up over 10%. I guess it was to be expected that daily active usage and new subscriber numbers will be high since more people are stuck at home. My only skepticism is based on the fact that most of these social media companies make money based on ads revenue, so if businesses are shutting down, who's paying for ads right now? Maybe my reasoning is flawed but I will be watching this space, I might get into Twitter at this level.

YerYer:


You buy when the market is open. Market opens 2:30pm - 9PM naija time.

Yeahh but I had to be held till the next opening by Trove so I was wondering

thetelz:


Yeahh but I had to be held till the next opening by Trove so I was wondering

Oh I'm not sure about Trove, but I will like to think the fill real time orders. Maybe others can chime in on this.

As a newbie in stock and option trading

What are the basic things to know/learn first or rather how is the learning curve/path exactly for more informed trading decisions?

Thank you sir.

@yeryer
@okapearl

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

Oga OakPearl, make I send account number? jokes aside, you do know how to pick these penny stocks. More loot for you this year. Nice one

4Play:


I think a wait and see approach is appropriate if, like me, your investment horizon is to buy and hold stocks for up to a year.

The markets bounced off the lows after the Fed injected liquidity but we need positive news about the covid-19 situation to move significantly higher. Otherwise, we are going to be in a stalemate (bouncing back and forth), and even retest the lows if the virus situation doesn't improve.

It's the big tech stocks that I am keen on like, Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOG) for their strong balance sheets but even here I will exercise caution given the stalemate I noted.

I also like Regeneron (REGN), Costco (COST), and Walmart (WMT) for their balance sheets. Unlike the aforementioned tech stocks, I suspect they can trend higher even in a bear market if the covid-19 crisis doesn't improve.

PS: I think hyperinflation out of the question as the Fed's liquidity injection supports asset prices (good for stocks) but hardly flows into the real economy. We should pray to avoid deflation in the US.

Thanks for the analysis and stock picks, my strategy is almost similar to yours. I agree with you regarding the tech stocks as the growth horizon is very favourable. I have MSFT too, and the stock has rebounded well since the last dip. When you say deflation, how exactly could this play out, hypothetically?

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

Doing it like a boss!

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

Every investor that bought most US stocks between mid-march and end of march are raking in a decent profit since early April while some doomsayers are screaming ''CASH IS KING'' from the rooftop. Congrats boss! I wish I could ''LIKE'' your comment more than once!

Pesbest:
As a newbie in stock and option trading

What are the basic things to know/learn first or rather how is the learning curve/path exactly for more informed trading decisions?

Thank you sir.

@yeryer
@okapearl

My brother everyone learns differently. When I started I watched a few videos on Udemy about stock investing for beginners. I started watching CNBC regularly and I browsed through Yahoo Finance. I tried reading a book about investing in stocks and I didn't get past the 20th page.

Most people will suggest you start by reading books, there are several books about stock investment such as "The intelligent Investor"; "A Beginner's Guide To the Stock Market" or "The Little Book of Common Sense Investing." Any of these books should teach you the fundamentals to get started and they cost less than $20 on Amazon. You can pay for a course on Udemy.com, they cost like $10.

I base most of my trading decisions on trends and sectors. For example during bitcoin's meteoric rise 3 years ago, every company who announced that they will be investing in crypto currency were rewarded by investors. So I rode the crypto wave that year until bitcoin dropped like a rock. Same with what I'm doing now with healthcare stocks particularly the ones that manufacture vaccines, ventilators or N95 masks, they are on an uptrend mainly due to the high demand during this pandemic. Another trendy sector is the stay-at-home stocks like Zoom (ZM), Teladoc (TDOC) , Livongo Health (LVGO), Chewy (CHWY), Docusign (DOCU), Papa John's (PZZA) ETC. For short term trades I follow the current trend, but for long term investment I keep a diversified portfolio of big cap stocks in different sectors.

In summary, start reading or searching videos, then browse cnbc.com and yahoo finance for commentary. As always if you have any questions, you can always ask here on the thread, we are all learning as we go.

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

congrts sire, im a new baby here loving your progress,whats the minimum amount one can have in his account before thinking of buying shares and the least of shares one can buy?

pls advise how do i register my account with expire id aand do i use credit can can i use an european id to identify an account open newly

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

CONGRATULATION[color=#006600][/color]

YerYer:


My brother everyone learns differently. When I started I watched a few videos on Udemy about stock investing for beginners. I started watching CNBC regularly and I browsed through Yahoo Finance. I tried reading a book about investing in stocks and I didn't get past the 20th page.

Most people will suggest you start by reading books, there are several books about stock investment such as "The intelligent Investor"; "A Beginner's Guide To the Stock Market" or "The Little Book of Common Sense Investing." Any of these books should teach you the fundamentals to get started and they cost less than $20 on Amazon. You can pay for a course on Udemy.com, they cost like $10.

I base most of my trading decisions on trends and sectors. For example during bitcoin's meteoric rise 3 years ago, every company who announced that they will be investing in crypto currency were rewarded by investors. So I rode the crypto wave that year until bitcoin dropped like a rock. Same with what I'm doing now with healthcare stocks particularly the ones that manufacture vaccines, ventilators or N95 masks, they are on an uptrend mainly due to the high demand during this pandemic. Another trendy sector is the stay-at-home stocks like Zoom (ZM), Teladoc (TDOC) , Livongo Health (LVGO), Chewy (CHWY), Docusign (DOCU), Papa John's (PZZA) ETC. For short term trades I follow the current trend, but for long term investment I keep a diversified portfolio of big cap stocks in different sectors.

In summary, start reading or searching videos, then browse cnbc.com and yahoo finance for commentary. As always if you have any questions, you can always ask here on the thread, we are all learning as we go.

Spot on, YerYer. I have improved on reading financials of companies via the methods you mentioned. Yahoo Finance is also a great resource too. I predict that this thread will also be a huge resource too moving forward as we all grow and read different, views opinion and picks from all. Well done too.

Tabuse20:


Spot on, YerYer. I have improved on reading financials of companies via the methods you mentioned. Yahoo Finance is also a great resource too. I predict that this thread will also be a huge resource too moving forward as we all grow and read different, views opinion and picks from all. Well done too.

Keep grinding bro, you will be financially independent sooner than you know it.

I just bought a few shares of Genprex (GNPX). This is a small biotech company and they currently have drugs in the pipeline to treat lung cancer and diabetes. This is a small cap stock that used to trade at $18 just two years ago. The chart looks good here and a move to $3 will value this company at over $100M. This is a very risky trade and it may not materialize.

YerYer:


Congrats bro. You were bold to buy that many shares and you held them for this long. You saw it rise to $9 then drop to $7. I bought a few call contracts on monday and I'm up 231%. I was planning to hold it till tomorrow but as I see you've sold your shares, make me sef no get greedy.

I'm eyeballing another biotech stock GNPX, I will like to buy at $2.30/share.

Please tell me more about call options. It appears the return is attractive with low cash outlay and short term horizon.
Can I trade options using Trove as am based in Nigeria?

naijaman0817:



Please tell me more about call options. It appears the return is attractive with low cash outlay and short term horizon.

In a nutshell when you buy 1 contact of a call option, its like you are paying a small premium to "borrow" 100 shares for a given period of time. If the stock goes up within that period of time, you can sell the contract and keep the gains. So yes the return can be really huge for a small percentage increase in the stock price but a small percentage decrease will cause a huge loss even as much as 100%. I realize that I trade more options for short term and currently I don't think any broker in Nigeria offer options trading. I try not to spam the thread with option trades so sometimes I buy a few shares if others want to follow in on the trade.

YerYer:


In a nutshell when you buy 1 contact of a call option, its like you are paying a small premium to "borrow" 100 shares for a given period of time. If the stock goes up within that period of time, you can sell the contract and keep the gains. So yes the return can be really huge for a small percentage increase in the stock price but a small percentage decrease will cause a huge loss even as much as 100%. I realize that I trade more options for short term and currently I don't think any broker in Nigeria offer options trading. I try not to spam the thread with option trades so sometimes I buy a few shares if others want to follow in on the trade.

Well done Yeryer. Please I'd like to know how you spot stocks before their price goes up. Thanks

xhuksy:


Well done Yeryer. Please I'd like to know how you spot stocks before their price goes up. Thanks

I work at night and sleep during the day. When I get home in the morning I tune into CNBC, listen to their commentaries and news about the market. But I pay particular attention to the scrolling thing at the bottom of the screen which lists stock symbols and the daily change in stock price. If I see a stock with a significant move up, I look it up to see if there's any recent news moving the stock higher. I now look at the chart to see if it's a new 52wk high or if the stock just shattered a recent price ceiling which could be a bullish sign that the stock will move higher and that former ceiling could be a new bottom. I glance at analyst recommendations as well as news articles related to the company from my broker. Sometimes the news articles mention other related companies in that sector that hasn't moved up as much and I might see that as a potential opportunity.

Believe me even with all that, I still buy stocks that will still disappoint. No one can accurately predict the market.

I also bought few shares of GNPX, think it should do well. Also bought some units of Document Security Systems (DSS), gone up a bit today but who knows......

YerYer:
I just bought a few shares of Genprex (GNPX). This is a small biotech company and they currently have drugs in the pipeline to treat lung cancer and diabetes. This is a small cap stock that used to trade at $18 just two years ago. The chart looks good here and a move to $3 will value this company at over $100M. This is a very risky trade and it may not materialize.

[quote author=YerYer post=88771092]

I work at night and sleep during the day. When I get home in the morning I tune into CNBC, listen to their commentaries and news about the market. But I pay particular attention to the scrolling thing at the bottom of the screen which lists stock symbols and the daily change in stock price. If I see a stock with a significant move up, I look it up to see if there's any recent news moving the stock higher. I now look at the chart to see if it's a new 52wk high or if the stock just shattered a recent price ceiling which could be a bullish sign that the stock will move higher and that former ceiling could be a new bottom. I glance at analyst recommendations as well as news articles related to the company from my broker. Sometimes the news articles mention other related companies in that sector that hasn't moved up as much and I might see that as a potential opportunity.

Believe me even with all that, I still buy stocks that will still disappoint. No one can accurately predict the market.[/quote



Thanks for this educative piece. Much love.

YerYer:


In a nutshell when you buy 1 contact of a call option, its like you are paying a small premium to "borrow" 100 shares for a given period of time. If the stock goes up within that period of time, you can sell the contract and keep the gains. So yes the return can be really huge for a small percentage increase in the stock price but a small percentage decrease will cause a huge loss even as much as 100%. I realize that I trade more options for short term and currently I don't think any broker in Nigeria offer options trading. I try not to spam the thread with option trades so sometimes I buy a few shares if others want to follow in on the trade.

Thank you very much for this prompt response and explanation of option trading. As you are familiar with option trading, may how covered call can help one mitigate again possible loss. Secondly do you know of any platform (broker) in the US through which someone in Nigeria can trade options. Lastly please be kind enough to tutor anyone that might want to explore this financial instrument.
Cheers.

abuhusna1:
Has anyone ever used trove to buy local stock. How reliable are they cos they don't give cscs number so how do I trace my stock or get my dividends as I am thinking of converting my dollars to naira and buying local stock from them for the first time instead of sending the money back to my account and back to my local broker. Please share your experience if you have done business on local stock with them

Yes, I did buy GTB shares with them in early March, and my trove wallet was credited with my dividend the same day GTB paid. The amount of stock will show on your portfolio just like the foreign stocks too.

I intentionally chose not to use Chaka because I do not want the hassle of stockbrokers and CSCS. I do own GTB stocks offline too, and I have never received dividend for over 8 years. When I took a day off work to visit their registrar in Gbagada with a signed and stamped form, I was told that I need to still go back to my stockbrocker and CSCS to get some other forms signed and then bring it back because I purchased from the secondary market, so they do not have my signature on their file. Ofcourse I abandoned the effort to retrieve my unclaimed dividends again, maybe forever. But I will never have any direct dealings with Nigerian stockbrokers, registrar or CSCS again. Imagine having to go through that process for every company stock I own. It is just madness.

So, except you are really planning to buy a lot of shares and keep for many years, which might be worth the hassle, Trove may be a better option.