The XLF (Financial Sector ETF) Active Short Trade has hit T1 for a relatively quick gain of 2.7% in just 2 trading sessions. Although I had planned to add additional targets & still believe that the financial stocks will continue lower in the coming days/weeks, please see my reply that was posted in response to the question from @ixtlanian in the trading room below. Previous & updated 60-minute charts:

@rsotc Randy, with XLF breaking below your sole short target, do you plan to add more targets or do you expect some pullback?

XLF has led the way down recently (vs. the broad market) so the odds of an oversold bounce are fairly high right now due to the very near-term oversold conditions. However, with the broad market & several other sectors just recently breaking down & several bearish technical events across the board today, there’s also a decent chance of a rush-for-the-exits type selloff in the broad markets & if that occurs, which I am leaning towards, any counter-trend rally in XLF will almost certainly be postponed.
I’ve been very busy all day with both the site & my own trading. Since I didn’t have time to add an additional target to XLF before the 60-minute (sole) price target was hit, the official trade will have to be consider completed. Personally, I’m not booking any profits on my banking shorts just yet.
One option for those short XLF, KRE or any individual financial stocks would be to either lower stops to protect profits or place a trailing stop to allow for the gains to run while protecting profits. (end reply)

From this point, I’d like to see how the markets close today: Do they ramp it into the close to regain some or all of today’s losses or do the dump it into the close, which would be quite bearish & a complete change of character from the pattern in recent months. As such, XLF might be added back as a new trade idea soon although Friday’s official short entry/trade on XLF will now be moved to the Completed Trades category as I was unable to add any additional targets in advance of the initial final target being reached.

On a related note, I’m still behind on updating the Short Trade ideas category. In the past, every single official trade idea, successful or not, was posted on the front page when it was re-assigned from the Active to the Complete Trade category for accountability/tracking purposes. As I’ve been preoccupied with some programming updates to the site recently & will be for at least the remainder of the week, I am going to make an exception & move all of the short trades that have either hit their final profit target or exceeded their maximum suggested stop to the Completed Trades category today in order to provide a more streamlined process when viewing the Short Trade ideas. A follow up post (or posts) will be made detailing the gain or loss on each of those trades, along with any significant notes asap.

One of the programming items that should be fixed soon is the way that the ticker symbols & the date of the most recent update associate with each trade currently appear in the tag cloud located at the top of each trade category. However, the functionality is still intact meaning that you can click on the ticker symbol for any trade idea to load all posts associated with that trade as well as the ability to sort all trade ideas by date (most recent updates) or ticker symbol.