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Good Friday and the market is closed #finance

Yes, it is Good Friday and the market is closed. I forgot and was quite looking forward to a day of market-watching. I think there is an element of gambling to investing in the stock market and it can be addictive.

Good Friday

A Good Friday analysis

So what can I do today except analyse and think about the events of the week and reflect? It is Good Friday and so a bank holiday.  Oh no, the market will be closed on Monday too! Anyway, I had a good week thanks to my little pharmaceuticals. Verona Pharma closed at 180 yesterday, down a little from earlier in the week but up from 145 last Friday. I paid 150 and so I’m 20% up. They have finished phase 2 of their trials on their drug for conditions that involve breathing difficulty. They will now start phase three of the testing. Prior to their consolidation, their high was equivalent to 300 so they have a way to go and could go to 500 if phase 3 is a success.

Immupharma

Immupharma has finished phase 3 of testing for their lupus drug and the share price lifted nicely this week to 159 from 122.5 last Friday. I bought Immupharma for 51 so that is a triple bagger. The next stage is to go for commercialisation. The big question is will they do a dodgy placing in the meantime and trash the share price?

Verona Pharma did a placing on the NASDAQ and so I’m reasonably confident they have enough funding for now and I watch the price on the NASDAQ because they trade after London closes. If Verona Pharma goes up on the NASDAQ after London closes which it did this week, then there is early buying next day in London. That could present a crafty buying opportunity. I also watch Lloyd’s Banking Group on the NYSE and look for buying or selling information there.

The rest

The rest of my portfolio was as expected. Solo Oil dropped further down it 3. Neil Ritson promised us 1p a share this year but that was before the consolidation. At this rate, he might keep his promise! Solo has increased its stake in the Horse Hill discovery and we still await news from Tanzania. Being AIM, the share price can just take off if we get good news. Solo invests in exploration based on its expertise so we can strike it rich at any time. The other share prices across my portfolio didn’t move much this week. ITV was given a ‘buy’ rating by one broker so I hope they will come good soon. Debenhams might be the target of a bid soon. Sports Direct owns a stake and is collaborating with Debenhams with a joint venture for online marketing. I suspect the share price has been forced down so a bid can go ahead on the cheap. That is great for new investors but existing investors will lose because the bid price will be lower than they have paid.

Investors and brokers tend to get pessimistic when they see lots of bad news and so become more cautious. That is when they sell and the market goes down. They even seem to acquire a negative mindset when the weather is bad. We might see a positive mood now spring is here! I’m looking for opportunities and I have my eye on Optibiotix but it is another AIM company. I would prefer a more established company for my next trade.  GSK went below 1300 last week and I should have bought, it ended the week at 1397. That was an opportunity missed. The price of oil is slowly climbing and so too is the value of the pound and those trends could bring opportunities.

That’s it for this week. If you would like to follow my blog just enter your email address at the top of the sidebar or follow me on Twitter for updates. You can also find links on my Facebook page.

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