₦airaland Forum

ojeysky:
Almost 4bn exchanged hands on wapco alone today, 75 definitely can't be the destination.

Xidget:
People have stopped buying from him at #2. So he doesn't sell much daily recently. He go tire sha.

Toluway:
I've been trying in vain to load more for days. So when I started hearing people are selling, people are selling this morning, I seized the opportunity to act accordingly. Got it around 70.15.or more because the price kept going up as I was loading. Because I had to be selling some other stocks. Life is a risk. No wonder we have Bobrisky 😁

johnok:
Don't be decieved, it will not be there at the end of the day.
It happened to me, My son bought Oando at N80, because he needed his money urgently and oando was on offer for
N73. I offered his on Morgan for N80,then log in into my account on Morgan and click his offer to buy at N80 per share.
To my surprise, Morgan sold to me at N80,but my son's offer was not filled.
In such a case , you know Morgan is warehousing such stock, they just filled up from their own stocks.
I COULDN'T BELIEF THAT

essentialone:
The seller fit dey this platform

GeeKudi:
Is this restricted to Oil or you want to add WAPCO?

Raider76:
Could be indicating the exit of smart money.

bastardson:
He is also refusing to sell below 2.

I have a bidded 1.90 everyday since Monday. He refused to sell.

Raider76:
Could be indicating the exit of smart money.

Raider76:
Could be indicating the exit of smart money.

Raider76:
Could be indicating the exit of smart money.

megawealth01:
Really

emmasoft:
@jadyclem Kindly chat me up with the number on my signature. I need to ask you some details that may not be proper to do here.

By the way have you open cscs/trading account before downloading the app?

Sunrisepebble:

crownprince2017:
In another news my 1m challenge just crossed 100% today, this is based on the term that people involved should communicate their progress. I have communicated my own, I'm sure I'm not the first person to reach that milestone.


Game is game in megawealth voice.

Streetinvestor2:
Lwkd.The people buying are dead /dirty money. This life is so funny. Wapco is done and dusted. I am looking for the next opportunity which should be how stock market should be played.
I am already pencilling down the stock that could replace my wapco and some people are busy trying to see if they can pull back the hand of time.
When you miss one,look for the next simple

BullBearMkt:
uuhmmmm! A possibility though; but with increase in buying pressure, there is high probability for price to go higher...

megawealth01:
Naira has moved from 1740 to 1680 = 1$ as at today...

We are watching closely

crownprince2017:
People that understand the practical economics knows the scarcity of dollar in Nigeria is artificial and it's bound to cast.

But I just don't have the strength to argue, the reason I just they look at the person saying naira will continue to fall.


Naira will appreciate in the medium to long term

chimex38:
https://leadership.ng/senate-passes-investments-securities-bill-for-third-reading/

crownprince2017:
People that understand the practical economics knows the scarcity of dollar in Nigeria is artificial and it's bound to cast.

But I just don't have the strength to argue, the reason I just they look at the person saying naira will continue to fall.


Naira will appreciate in the medium to long term

ghm:
I don't think anyone is arguing about the negative impact of devaluation on cost of living, stocks and share investments, prices of goods and services. What I see as the issue is that those who are pushing it are doing it in a very narrow-minded, straight-jacketed, textbook/theoretical way. They closed their minds to other possibilities that can make one take advantage of the situation. Savvy persons will not fold his/her hands and watch these policies ruin them but take advantage of the situation instead of lamenting and cursing the policy makers.

To shed more light so that it will not just be hypothetical talk, here are some of the ways people managed these situations:

1. Borrow in Naira and convert to forex. My eyes opened when a friend borrowed N50m and converted to USD @ N360 to $1; he is still paying the loan in NGN while the rate has fallen as low as N1700 to $1. Some did the same with UCAP mutual funds, etc. Some people change part of the income to forex monthly, etc. Someone quoted Eco 101 earlier, but we learn different things differently in each situation, I learnt in Eco 101 that borrowers gain during inflation.

2. Diversify into forex denominated investments instead of having 100% in NGN shares. Do Eurobonds, dollar funds, global stocks with Chaka, Bamboo, Trove etc. In fact, a sister/similar thread was even opened for that as far back as 2020 - https://www.nairaland.com/5669161/us-stocks-pick-alert

3. Reduce the tenure of your investments in NGN stocks. Take profit regularly, trade for earnings, news, do JIJO etc. That is why we pick these days, no lifetime loyalty to any stock any more. We go for stocks with asymmetrical returns, steady dividend, astronomical growth etc.

4. Keep no savings in devalued currency, in fact, have only what you will spend in NGN.

Let me stop here.

ghm:
1. Borrow in Naira and convert to forex. My eyes opened when a friend borrowed N50m and converted to USD @ N360 to $1; he is still paying the loan in NGN while the rate has fallen as low as N1700 to $1. Some did the same with UCAP mutual funds, etc. Some people change part of the income to forex monthly, etc. Someone quoted Eco 101 earlier, but we learn different things differently in each situation, I learnt in Eco 101 that borrowers gain during inflation.

Raider76:
Will you still recommend no. 1 in view of the current relative stability of the Naira, and increasing likelihood of its strengthening?

chimex38:
https://leadership.ng/senate-passes-investments-securities-bill-for-third-reading/

HesInMe:
Are they removing the ridiculous 10% max change per trading session?