EB Watch List Update Report

Dear Members: MARKET UPDATE Traders continued to show their great interest in stocks yesterday as the S&P hit another all time high. Today we're seeing a little bit of selling in the NASDAQ, but not much, as the demand on the long side remains strong. The VIX continues to show a very calm market. Some would say too calm but the clear confidence in the market is quite evident. Note that the strength in the market comes even as the $USD and government bond yields rise. This shows that the appetite for stocks was strong when the $USD was weaker and when bond yields were lower and the appetite is still strong even with the shift into the dollar and the move away from safety that government bonds provide. We're nearing the end of September and so far the month has been just fine, in spite of its mostly negative history. And now we're within a few weeks of the beginning of earnings season when thousands of companies will report their Q3 numbers with expectations quite high. The S&P almost touched 2512 yesterday so that is a level the bulls will now try to clear. They would also just as soon hold above 2500 and certainly above the 20 day, now at 2490, should we see any selling. In the meantime the bulls remain in control of the market. KEY EARNINGS REPORTS Companies reporting earnings today (September 28) Before Market Opens ACN, BBRY, CAG, MKC, RAD and MTN After Market Closes: KBH Companies reporting earnings tomorrow (September 28) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST We added CRM to the Watch List yesterday with more information below BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock is down slightly as it has moved into consolidation mode. Next major closing level to clear is $179. CRM - This stock was added yesterday at an entry price of $93.15 with a price target of $98 and a stop loss of any CLOSE below $92.34. If it closes below that level it will be removed from the Watch List. Mid Cap Watch List GWRE - Stock is fairly flat and a close back above $78.64 which would be bullish. SFR - Stock is down 1.5% as it struggles to hold above its 50 day moving average. As a reminder the stop loss on this stock is any INTRA DAY move below $35.27 which is just over 30 cents from the original entry point. Just don't want to hold it if it moves below the stop loss. CTLT - Stock is down by 1.7% as it hovers just above its 20 day moving average, currently at $39.55. Would like to see it hold above that level. Small Cap Watch List GIII - Stock is down 1.4% and a close back above yesterday's close of above of $29.06 would be bullish. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats