EB Watch List Update Report

Dear Members: MARKET UPDATE Today we've got a bit of a mixed picture with the NASDAQ higher and the S&P and Dow lower. Two developments which make it quite interesting that stocks continue to remain in favor include another big spike in gold and lower government bond yields. In fact gold is back above $1350 for the first time in a year and the yield on the ten year government note is now at 2.03%, both indicating a move to safety. Yet all of the major indexes remain within striking range of their respective all time highs. The last time the ten year was lower than it is now was in November of last year when it was below 2%. That was also a time when the market began its march higher. So traders are wondering if we are seeing the bottom in bond rates, the $USD and a top in gold and if so, might that portend to be good for stocks? Or, are these warning signs for stocks? Whatever the case, it's a fact that both the NASDAQ and S&P remain above all key technical levels; that has to be seen as bullish. In looking at the VIX it does show that in spite of the resiliency of stocks there's still some nervousness underneath the market. This makes sense considering the movement we are seeing into what are perceived to be safer instruments. Right now we've got a range on the S&P of 2454 to the downside and 2490 to the upside. We could easily churning for a while as traders navigate during a month that has a reputation for being mostly unkind to stocks. But as long as the bulls hold the major indexes above key technical levels that should be seen as positive. KEY EARNINGS REPORTS Companies reporting earnings today (September 7) Before Market Opens BKS, DVMT, DCI, FCEL and HOV After Market Closes: FNSE, RDFN, SAIC and PAY Companies reporting earnings tomorrow (September 8) Before Market Opens: KR After Market Closes: None ADDITIONS TO WATCH LIST Going to be very selective here and will let you know if there are any new additions to the Watch List BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List LYV - Stock is fairly flat with our target remaining at $42. NVDA - Stock is up slightly with our target remaining at $172.50. Mid Cap Watch List SGMS - Stock continues to consolidate. A close above $36.20 would be bullish. YY - Stock exceeded our price target of $76.40 this morning so is being removed from the Watch List. Great trade! KORS - Stock was added to the Watch List yesterday at an initial entry price of $42.53 with a second entry on any pullback to $41.90 with a price target of $45.75 and a stop loss of any close below the 20 day moving average, currently at $41.88. Stock is showing some weakness today so that second entry level could come into play. Small Cap Watch List None DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats