I had mistakenly omitted the EXPE active short from the list of trades that have just recently hit their first profit target.  I have several updated charts to post, including EXPE which is trading down 25% to just below the first target of 50.55 but the site is experiencing an issue with my web hosting company that is preventing the upload of any charts or images to the site.  We hope to have this issue resolved soon but until then, I just wanted to give a heads up on the EXPE trade as well as my thoughts.

For those in the trade that have not yet booked any profits today, keep in mind that support, once broken, becomes resistance.  My target levels are almost always key support levels where I believe a reaction (bounce or consolidation) is likely once prices approach it but in the case of a trade like EXPE, where the stock made a large gap down to the T1 level and has since traded below that level since the open, I will often hold off booking any profit unless prices make a solid move back above T1 (resistance).  Even if my initial plan was to take partial or full profits at T1, now that support level has been taken out, is becomes resistance.  Therefore, break of support not only opens the door for the next target (T2) being hit but it also allow me to place a relatively tight stop not far above the T1 level, helping to lock in most profits up to that point but also allowing for the possibility of additional gains should the stock continue lower to the next target.  As soon as the chart image uploading feature on the site is restored I’ll post an updated chart of EXPE as well as some of the other trades that have recently hit their first profit target.