₦airaland Forum

fxuser:
Zenith
Weekly
- last week went to d sellers , almost forming a gravestone doji ( inverted hammer)
(anyways expect more selling to come next week)

(trying to keep things simple can be a difficult task)

Thank you sir, we are following

Grupo:
The prices of goods would msot definitely increase.

Would CBN intervene? Nobody knows.

If they have more dollars, CBN will most probably intervene.
The problem is that our major sources of dollars have been impacted negatively....... From low oil price to reduced remittance from Nigerians in diaspora and FPI.

DeRuggedProf:
In the stock market, the greatest sin that can't be forgiven is not that of a wrong entry or exit point, but the sin of squeezing yourself into ILLIQUIDITY!

When the disjointly staggered clusters of bids suddenly run dry for weeks on end, you understand the very deep pains of a frail old man that paid the handsome bride price for a virgin....

Is like you want to take over from peter with all the meme o.....
Se this your babe na virgin ?

Justcul:
Sir, I suspect the mark down of Dangcement before it gained thereafter.. it is calculated from the previous day close.

What do I know self?

I also want to believe that the Dangcement mark down today distorted the index just like you mentioned

stcool:
Good day all, please I need info for a friend.

A friend wants an investment that can guarantee 10% - 15% per annum.

He is an Igbo businessman and used to invest in treasury bills hence he is looking for another investment opportunity.

He does not want to do fixed deposit due to low rates, No stock market.

*Initial investment N20M

Anyone knows any good investment/assets management company that can deliver. Preferably an investment house may be bank/ insurance subsidiary etc that can pay a return of 10 - 15 % per annum.


Thanks
cc: Oracle, Pa Emma, CoolCash, Loco, etc.

Kindly help.

The fg sukuk bond is available at 11.2% pa for a tenor of 7 years.

ahiboilandgas:
in a deregulated market if crude jump to 60 pms jumps to 180 in pump stations and prob 200 in maiduguri ....according to nnpc the markets has been deregulated....if price of limestone increase...cement go rise

Government said it is deregulated and they are still fixing the price. This is quite different from what we have with cement.
We still have a long way to go in the oil and gas sector

Tvegas:
This article is for those who have asked about how Dangote Refinery will affect or not affect Nigerias forex position in the future. Enjoy reading and Happy eidel fitri.

https://www.google.com/amp/s/www.theafricareport.com/21854/behind-the-hype-is-dangotes-refinery-a-game-changer/amp/

A very good article.

rebekah2011:
Caberton has done well by putting out information that 2020 is going to be a tough year for the company. If you see it at N1.50 it will not be a bad idea to buy for long term.

I don't think it will get that low.
N2 might not be bad

Mcy56:
The result is not bad.
FIDSON is currently trading at 3+ and they declared 15k, so also M&B @ 3+, 20k.

Though I knew they belong to different sector, yet Caverton is still cheap at that price by my own understanding.
The stock is just surrounded by negative sentiments, that's what I see there.
Also, there are times some stocks get bashed once dividend is declared but will start picking gradually again.

Wait o, are there no Caverton faithfuls here except OGG? Jideflash come and say something here.

The result is definitely not bad.
I think people are just disappointed with the dividend.

Mcy56:
Investors rush to Nigeria.....Bloomberg
Topic is on front page.
More money coming to NSE.

Zee arrived KM 17, may still go up more. So also others. As predicted by the Oracle.

Those guys are around...the PFIs. Nsempas let's play smart and wise. Make your money, don't be greedy lest you be the last Kaya carrier.
We're counting on our able Oga RabbiDoracle and few other bosses to keep us updated and alerted. Thanks sir.
We keep monitoring price movements.

That headline could be misleading o, hope you read the whole story.

unite4real:
Each time I watch the money in my pension fund, I get very unsettled especially if I imagined how much I would make if allowed to manage it myself. So unfortunate it's driven by government policy. I can only state at it in anger. I hope I'm the near future there will be a review of the policy to enable investment savvy guys to manage their fund themselves

The problem is how will the regulators recognize those that are investment savvy.
If the law is relaxed to give people the option of managing the funds by themselves,almost everyone will come out to claim expert in investment. And I can bet you a higher percentage of Nigerians will blow that account under one year.

iamadonis2:
Is there a possibility that, as soon as the interstate lockdown is lifted, the naira may gain against the dollar? Say exchange rate falls to 360 Naira.

Why am I asking? I'm in importation and currently sourcing my products with the current interest rate. If dollar falls in the shortterm it'll affect my prices and cause me to sell below my cost price.

Or is this the perfect time to just hold my money? Customer patronage is at an all time low right now anyway.

If you can get your dollar at the official rate,I will say you have nothing to worry about.
If you are sourcing from the parallel market, I will advise that you hold your money for now.

Godlylifeoneart:
Bra, I beg to differ.
The info on dz site has been my main guide.
This same info what was I used for Ardova whetit was down to year low.
Take the positive from their analysis.
Especially, the BVPS.
The financial report would not tell you the BVPS.
Not everyone got the dedication to be calculating bvps.
Moreover, the site tend to update companies information regularly.

You can buy any stock you want to buy,that is definitely not the point.
The point is that the information you posted about Guinness EPS and PE is wrong.

Godlylifeoneart:
As at yesterday, this info is available on easykobo.com

Very informative site

What they have there is actually not correct.
The correct information is on NSE website, you can download any company financial reports from the site to avoid being misled by all thes third party analysts

Godlylifeoneart:
Guinness has the best book value per share in the breweries industry.
Last traded N17
BVPS of N54. 33
EPS 4.46
PE3. 81
There is no other place to take a risk.
The worst scenario, it will reach 50% of the present book value in 6 months post COVID-19
A worthy risk. You will smile technically and laugh Fundamentally in 6 to 12 months.
Bookmark this post

Where did you get EPS of 4.46 and PE of 3.81 for Guinness.?
The EPS for Guinness as at q3 2020 is 62 kobo.

wanaj0:
E ku market ooo.

The most important thing in this era is CARE. So let us CARE for one another. I believe everyone is doing fine. Stay at home except you got no option. Maintain social distance and BOOST your immune system. Most will get infected (just a matter of time). Most will be asymptomatic and will get well without any drug or medication. Conquer the fear.

Next is CASH preservation. The market is irrational. You see a share with almost 20% dividend yield, <3 PE and you are looking at stocks with PE of infinity? I dont think you have CASH preservation in your dictionary.

There will be many job losses. Some will have to take pay cut to remain in jobs. This is a global phenomenon. But do you know what? Some companies are going to BENEFIT from this crisis. Some will supply the vaccines. Some will supply the surgical masks and gloves. Research that instead of monitoring prices every minute and giving yourself high BP.

The patient dog eats the fattest bone.

HAPPY INVESTING.

Your contributions is invaluable.
Hope you will post more regularly. Welcome big Boss!

fxuser:
UACN
- quickly found support at N6 , also a prev level last yr (important level)
- dis dilly dally under N7 , with last min vols i dont get
- the weekly macd histogram (Oracle likes d histogram ) suggest bears are losing dis battle
- i wud like to see a weekly close abv N7
- but looks ai

Guinness
- ummm catching a falling knife is not easy

While you were away, it was more of predicting the market and not much of analysis.
I really miss your contributions here.
Welcome back!

OBAGADAFFI:
Ideally Pharmaceutics(GSK, NEIMETH, MB and FIDSON) should fit into your analysis.

But most of them aren't properly managed.

I doubt if sir wanaj0 will buy any of those stocks.

ahiboilandgas:
if u got stable electricity,good healthcare system, relative security and low unemployement index (living wage ) Nigeria will be ok i think

For me the biggest problem is the level of insecurity.
My encounter with victims of kidnappers and armed robbers in recent times have changed my perception about Nigeria.

emmanuelewumi:
Some speculators have not been able to break even from the losses they suffered about 2 years ago

Speculators who do follow, follow will always get burnt.
The best time to buy is before official devaluation. Anyone who is buying dollars now at N450 is taking uncalculated risk.

With about 15% in devaluation at the official rate, the chance of further adjustment is remote.
What will likely play out is a wide fluctuation in spread between the official and the parallel market rate until CBN is able to accumulate more dollars to meet our fx needs.

There are reports that fpi who want to repatriate the proceeds of their investment are trapped with CBN telling them to wait. That is not good enough for the country.

emmanuelewumi:
If you have assets and Investments that beats inflation and currency devaluation, why then say the country is hopeless and thingy will continue to get worse.



A typical market place is rowdy and noisy, as a businessman or trader we should be less concerned about this, but concerned about the money we will make from the market

The way he put it might not be the best but many people share in his pessimism.
We are not doing anything as a country to make things better but that does not mean an individual cannot improve his life in this country

As long as we run a mono product economy, things will most likely remain the same and our currency will continue to depreciate.

In 2014, our foreign debt was below 10 billion dollar and fast forward to 2020 the foreign debt is about 27 billon dollar despite the fact that we have not been able to improve our revenue in any significant way.

For the past four year we have been using more than 50% of our revenue to service our debt. With current price of oil and the ravaging pandemic,we might be spending close to 90% of our revenue to service our debt this year. Who does that as an individual or organization and survive?

The bottom line is that the country is not moving forward but individual should take responsibility and make decision that will better his/her life.
Diversifying our assets base to include dollar denominated ones will not be a bad idea.
If anyone thinks naira will appreciate from the present official rate of N360, the person might be living in hopeville.

contumely2:
What do you think about busd sir? Is it not volatile?

It is very volatile for now.
This is not unexpected giving the uncertainty in the fx market.
The busd/ NGN market mirrors the naira dollar exchange in the parallel market for now.
If you want to buy and hold you may wait a little while for some pullback.

Akin3891:
I want to buy some coins..What is the limit one can buy using bank card or mobile banking apps, I believe Nigeria bank has a limit cap on debit card?

It all depends on your banks.
As for binance, the maximum deposit per day for banking apps is 18m while that of card is 430k.

Crazeworld:
Please what's busd?

Binance USD (BUSD) is a stable coin pegged to USD that has received approval from the New York State Department of Financial Services (NYDFS).

It is a stable coin created by binance (the largest crypto exchange in the world by volume) that is pegged to the dollar.

Buying busd is like buying dollar.

emmaodet:
Hello bro,

About the coin, how can i get it too.
I will like to keep my money in a currency that is immune to inflation or devaluation.
Can you explain more about it.

Binance has really made things easy for Nigerians.
Search for binance and follow the instructions on how to register.
Once you register and your account verified, you can deposit money directly with your mobile banking app or your card.
You can buy busd directly with your naira though I will not advise you to buy at current price.
Price today is between N437 and N450.

I will be glad to answer any other question you may have here.

Theconglomerate:
FEC is where they gather to debate on things they would actually do.
New regulations,advisory positions,opinions on public matters,etc...
Like a place where some sucker can stand up and say let's make defending the naira artificially a norm for the rest of our lives,the group will vote,approve and tomorrow you will hear CBN injects 1 billion dollars in the fx market despite depleting reserves
There and then my friend,your dollars don cast
So that is why no hoarder or speculator or BDC want to have fx at that time or won't buy at normal price no more.
Thread with caution bro,but I've kinda heard somethings from my tomato seller friends that suggests hoarders or speculators are safe,FOR NOW.

There are plenty meetings like that;MPC,FEC,etc...

They don't discuss forex in FEC..If it is MPC, I can agree but we all know how things work in Nigeria. It is a one man or some cabal that decide on how things are run in this country.
If you buy low there is nothing to fear.

No matter what CBN or anybody says as long as oil price and reserve is low naira will continue to depreciate.

Theconglomerate:
FEC meeting causing pandemonium in the fx market as we speak,but the degree of impact of the pandemonium seem to be almost insignificant as we just have 5 naira losses across segments.
I envisage a further drop after the meeting though,even though the fx market is unpredictable and one can hardly ever be right with these things.
Who knows what's going on?
Currency people make we discuss

How does FEC meeting affect fx market.
I have moved from holding/trading dollar to stable coin pegged to the dollar in crpto most especially busd.
You don't need any intermediary to buy or sell your dollar equivalent.
You can try that space.

zamirikpo:
It's like we have the minister of petroleum resources in our midst.

Discount.....crude oil price is not beans and garri that anyone can just discount.....

Argue with OPEC.

There is a discount on oil price with the current glut....

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.bloomberg.com/news/articles/2020-04-28/even-at-10-a-barrel-oil-traders-balk-at-buying-nigeria-s-crude&ved=2ahUKEwjXsZvKuKvpAhXh6OAKHcrgDb0QFjAFegQIBRAC&usg=AOvVaw39yLTcLgiZ_GVChKvgrK9F&cshid=1589187519376

ifeanyija:
Are u saying MBA can't make 90% in 6 month?

Making 90% or more is not the issue. There is no limit to the amount one can make in forex but......

ogwuche4u:
Only a fool says what he doesn't know. Where were you when they did their forex bootcamp in portharcourt? Be mindful of your claims cos if they find you and file a suit against you, I pray you have the money to get a lawyer.
Am so pained because some Nigerian youths still think forex is a scam. When are we going to break free of the shackles of white collar jobs? I pray for our youths.

I trade forex myself so I am not one of those youths you are referring to.
We know how forex works.

philos:
I like your simplicity, and honesty. I wish I could have what it takes (financially) to get started with Forex Trading, or at least invest in those expert forex traders like MBA.

MBA is not an expert in forex trading.
In all probability, they are more of a ponzi than fx trading.