As we touched on this morning, large cap biotech is taking a beating on the heels of Celgene’s earnings. This touched of a quick downside reaction on the open in GILD which quickly touched near our stop at $77.00. This is why I always use “near” and use discretion when appropriate. For those who can not watch the market, always use something underneath a round number for your stop. It will not solve stop gunning issues all together but may save you from time to time. As for the TTP portfolio, we held our position this morning ahead of the GILD report tonight. As for UBSI, earnings were pretty much of a yawner and the stock is down only slightly. Our other positions are holding up well, but we have a feeling markets are about to get a bit more difficult. We will have another update later today.


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