EB Watch List Update Report

Dear Members: Market Update: What's different today? First, all of the major indexes slipped below their respective 20 day moving averages, the first time this has happened on the Dow and S&P in over two months. Next, the VIX is higher by almost 11%, and that's well off the session high when it was up by a full 25%. So for the first time in quite a while we have some technical damage on the major indexes with traders showing increased nervousness, a combination that favors the bears. It should be pointed out that all of the major indexes are well off session lows. Now the question becomes; will traders continue to buy stocks on this pullback, and specifically, to the point where the S&P closes back above its 20 day, currently at 2574? If the answer is yes, then the bulls will maintain control. However, further weakness and a close back below the 20 day turns the tides some in favor of the bears. The S&P got as low as 2557 this morning which is now new support. Below that is key technical support at the 50 day, currently at 2542. That becomes an important level for the bulls to hold as the S&P hasn't really been below that level since late August. We're more vulnerable today than we were yesterday. That could change but the VIX is telling me that traders have moved into cautious mode. No need to take on additional and unnecessary risks at this time until we see what develops. Companies Reporting earnings today (November 15) Before Market Opens TGT After Market Closes: CSCO, LB and NTES Companies reporting earnings tomorrow (November 16) Before Market Opens: BBY, VIA and WMT After Market Closes: GPS and KTEC ADDITIONS TO WATCH LIST Will keep you posted if are any additions to the Watch List. Going to be extremely picky here with the market showing signs of weakness. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List GM - Stock is down slightly as it tested its 50 day moving average before bouncing. Really would like to see it close back above its 20 day, currently at $43.11. Mid Cap Watch List SKX - Stock is higher by 1.3% and a close above $33.04 would be very bullish. OSK - Stock is lower by almost 1% as it tested its 50 day moving average before bouncing. Needs to close back above its 20 day moving average, currently at $86.05 to get back on track. Small Cap Watch List STRL - We added this stock to the Watch List yesterday with an initial entry price of $17.07 with a second entry on any pullback to the 20 day moving average with a stop of any INTRA DAY move below $16.16. It moved below that level this morning so the stock is being removed from the Watch List. PETS - Stock hit our price target today of $39 so is being removed from the Watch List. GREAT TRADE! If the stock closes above $39.23 that would be bullish and could take the stock higher. SSTK - Stock is fairly flat and a close above $39.71 would be bullish. SYNT - We raised out stop on this stock yesterday to $24.99 yesterday after it had moved up substantially and close to our price target and it hit that level Intra Day so is being removed from the Watch List. GREAT TRADE! DELETIONS FROM THE WATCH LIST SYNT, PETS and STRL are being removed from the Watch List At your service, John Hopkins EarningsBeats