EB Watch List Update Report

Dear Members: MARKET UPDATE We've got a mixed picture today as details of proposed tax reform start to take shape. So far the announcement has been met with a so-so response, not surprising considering it's been talked about for a very long time. In fact, traders are wondering if this could be a "sell the news" event. It might be but looking at the VIX, which got as low as 9.67 this morning, traders don't seem all that worried, and as has been the norm of late, it's already back to business as usual. One thing is obvious; traders aren't anxious to dump their long positions, at least not yet. Instead they seem happy with the status quo with the bulls wanting higher prices but willing to accept some consolidation, or even a modest pullback, if that's what it takes to move the market higher. It's also obvious that traders are looking forward to another strong earnings season when companies start reporting numbers for Q3 a few weeks from now. So traders are reluctant to dump shares en masse with the overall market mood quite positive. Some more good news for the bulls is the NASDAQ has joined the Dow and S&P in moving back above all key moving averages, giving them the total technical advantage. And the Dow and S&P remain within easy striking range of their respective all time highs. Bottom line; the overall picture remains bullish with a strong bid underneath the market. Thus it makes sense to respect the bulls here unless we see something that changes the narrative. KEY EARNINGS REPORTS Companies reporting earnings today (September 27) Before Market Opens WOR After Market Closes: JBL and PIR Companies reporting earnings tomorrow (September 28) Before Market Opens: ACN, BBRY, CAG, MKC, RAD and MTN After Market Closes: KBH ADDITIONS TO WATCH LIST Will keep you posted on any new additions to the Watch List BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock continues to hang around its 20 day moving average after pulling back from a nice move higher this morning. Once again would like to see it close back above its 20 day moving average, currently at $173.68, at a minimum. Mid Cap Watch List GWRE - Stock is flat as it tries to hold above all key technical levels. Would like to see it close back above $78.64 which would be bullish. PSTG - We issued a profit alert at $15.97 this morning. For those who continue to hold watch to see if the stock closes above $15.95 which would be bullish. Also you might want to consider raising your stop to make sure you lock in some profits. $16.40 remains the next key level of resistance. GREAT TRADE! SFR - Stock is up slightly as it tries to move back above its 20 day moving average, currently at $36.27, and a close back above that level would be positive. CTLT - Stock is higher today and a close back above the 20 day moving average, currently at $39.47, would be bullish. Small Cap Watch List GIII - Stock is down 1.4% and a close above the recent high of $28.98 would be very bullish. DELETIONS FROM THE WATCH LIST We are removing PSTG from the Watch List At your service, John Hopkins EarningsBeats