So we are in the middle of Earnings Season in the US and I had a couple of Biotech firms which I am currently Spread Betting realease thier results today.
Normally, earnings are not particularly important for these type of companies as they generally make losses due to most of their budgets being spent on research. What I am waiting for is the news of succesful clinical trials or Government approval of new drugs etc.
In fact, on the whole, as earnings generally dissapoint, it is prudent to steer clear of these dates, though we tend not to see massive moves – like you might see on the big names like Apple or Twitter etc – they can still be a pain to open positions.
However, today two of my holdings came out well and went up. Yay! One was up 4.3% and the other 3.5%. Now, as I am spread betting and these are not large companies, this is only a few points, but none the less, this will point to hopefully a continuing move in the upward direction from here. All good.
Also, I own shares in a US Burger chain (not McD) which also released results today. I had missed this coming for some reason but was pleased to watch it climb a superior 13.4% for the day. This investment is currently up 17.3%.Now in which high street bank can you get returns like this in a few months??
I suppose you could say I am just trying to gain from human nature. Eat lots of burgers, then need drugs to cure you from the problems these bring you. Just seeing the world how it is….
Still a few more results for me to come this week….fingers crossed!
Love as ever,