TTP UPDATE: $SUPN

Our trade in SUPN was a great example in the value of honoring your stops. Everybody had a chance to get out cheap this morning, those that didn’t paid a heavy price as the stock started to cave in by 10:30 eventually closing down nearly 24%. We were filled here at $44.50, so with our trade entry of $47 we escaped losing only 5.3% on the trade. Also, this is why when entering the biotech arena we try and limit ourselves to profitable biotechs, as a general rule, with established drugs on the market. Had this been a small unestablished company with no marketed products we may not have been able to get out as cheaply as we did. We have several charts that look interesting so if the markets are cooperative we may have a new trade by the end of the week. Stay tuned!

-CJ

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