Few expected it, but it happened: The UK is out of the European Union.  And while this may seem like an overwhelming and confusing event, and there is risk involved, it’s manageable.  First, we hedged our portfolio with a position in the ProShares Ultrashort Biotech ETF (BIS). This has helped to cushion any losses.   Stay with BIS and maintain a 7% trailing sell stop.

I’ve been monitoring the BTP portfolio carefully and there are three stocks that are looking especially good through all this.  

Use the weakness to enter Ambarella (NSDQ:  AMBA) our most recent BTP pick. Nothing has changed here other than the price has dipped.  There is still going to be a need for high speed, high resolution chips especially for security purposes.   Every time there is a terrorist attack or an “unexpected” geopolitical event, the little light will go off in someone’s head to buy that drone or that security camera.  

Stock up on Whitewave Foods (NSDQ: WWAV).  When times get hard people still have to buy food. And Whitewave remains at the forefront of the food trend for health conscious people. Its Silk almond milk and its Horizon organic dairy line are likely to continue to sell well.  And the company continues to roll out new products and expand through acquisitions.

Add to position in Cerus Corp. (NSDAQ: CERS).  This company continues to slowly move toward what I think will be a blockbuster FDA approval for its Intercept blood microbe neutralizing system to be used for red blood cell transfusions.  It’s already a leader in plasma and platelet transfusion neutralization and the U.S. government recently allocated $30 million dollars of a possible $140 million dollar grant to the company to further test Intercept in red blood cells. 

As always remain true to your long term investment plan and your overall risk profile. This remains a risky market and there is no need to rush into it as it could take several days to weeks before things clear up. 

Disclosure: I own shares in WWAV, CERS, and AMBA.

We’ll have more on Monday.