EB Watch List Update Report

Dear Members: Market Update: The bulls didn't like being behind the eight ball yesterday and especially giving the bears momentum for a day. Accordingly buyers are back in force today with all of the major indexes up sharply, especially the NASDAQ, up 1.1% on the heels of strong earnings by Cisco after the bell last night. Also, Walmart reported blow out numbers with the stock higher by over 8%, helping to boost the Dow. It goes to show you that when everything is said and done, the market cares more about earnings results than just about anything else. The VIX is lower by 11% after rocketing higher yesterday. It remains above all key technical levels but the bulls are breathing easier today than they were just one day ago. The strong move in the NASDAQ today has it within 10 points of its all time high and within striking range of 6800. The other good news for the bulls; the bit of selling we saw the past few sessions took plenty of steam out of stocks with oscillators no longer overbought. We're right back to the bulls being in control with tech stocks leading the charge higher. As long as the major indexes remain above all key technical levels the bulls get the nod. Companies Reporting earnings today (November 16) Before Market Opens BBY, VIA and WMT After Market Closes: GPS and KTEC Companies reporting earnings tomorrow (November 17) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST We added ALSN and HUN to the Watch List today with additional information below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List HUN - Stock was added to the Watch List today at an initial entry of $29.75 with a second entry on any pullback to $28.96 with a price target of $32.30 and a stop of any close below the 50 day moving average. GM - Stock has worked its way back above all key technical levels and a close back above $43.57 would be very bullish. IBM - Stock closed below its 50 day moving average yesterday so is being removed from the Watch List. Mid Cap Watch List ALSN - Stock was added to the Watch List this morning at an initial entry price of $41.99 with a second entry on any pullback to $41.25 with a price target of $45.50 and a stop of any INTRA DAY move below $41. SKX - Stock is higher by 1.3% and a close above $33.04 would be very bullish. OSK - Stock is higher by 1.7% as it tries to close back above its 20 day moving average, currently at $85.94, to get back on track. Small Cap Watch List SSTK - Stock is higher by 3.8% and a close back above $39.71 would be very bullish. DELETIONS FROM THE WATCH LIST IBM John Hopkins EarningsBeats