The major indices are all trading significantly lower at midday following a gloomy overnight session and a steep morning selloff on Wall Street. The global COVID situation further deteriorated over the weekend and the number of U.S. infections also hit a new record, jumping above 80,000 two days in a row. The fact that a pre-election stimulus deal is now all but impossible also added to the bearish pressures this morning, even as the high-level talks are set to continue this afternoon.
Stock Pick Summary:
The market will remain extremely volatile, but we will continue to invest in top quality companies and maintain a patient, long term approach. Today, we open a position in an exciting company that operates as a software design and services company worldwide. The earnings are expected to grow 36% annually after a prolific growth of over 520% last year. So while the stock trades at a high valuation, we expect patient investors to be rewarded.
We don't recommend over investing in any stock. Consider starting with a small amount, say 2-3% of your portfolio's overall value, and add a little at a time.
You could invest as low as $200-$500 on a pick, and even buy just 1 or 2 shares, if you are new to investing, low on cash or just prefer going slow.
For best results, have an intention to hold your position for at least 2 - 3 years in general. However, you can always lock profits sooner if you prefer as every investor has a unique portfolio and different goals.
Consider investing in our multiple stock picks (the more the better).
The most successful members look to mirror our portfolio as much as possible.
Besides the new stock pick, you may also consider diversifying amongst some of the earlier picks from our market crushing portfolio.
Be patient and don't allow daily market swings to unnerve you. Remember, we have a pristine track record over last 10 years, so Buzz with confidence and patience.
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