EB Watch List Update Report

Dear Members: Market Update: The old saying, "Don't fight the tape" is on full display today as the market serves up a holiday gift for the bulls. All of the major indexes hit new all time highs including the S&P touching 2600 for the first time in its history. Traders are back to being very calm with the VIX back in the 9's as it gets closer to the all time low. Said another way, it's about as good as it gets - which on one hand is a bit scary - but traders aren't too concerned that the market might be a bit stretched. For sure the NASDAQ is technically overbought. Not the same for the Dow and S&P which are playing catch up. The big move of late does make it more risky to get overly aggressive on the long side; that is, enter too many new positions. In fact I wouldn't mind a pullback here though we might have to wait for that for a bit. Whenever you get to a new record level, like 2600 on the S&P, it's hard to say what might come next. First, it would be bullish if the S&P closed above that level. If it does that would embolden the bulls even more. Then there's the NASDAQ that has rifled through 6800; are the bulls eyeing 7000? Maybe, but again, the NASDAQ is already technically stretched. We'll need to continue to be very selective here; we've had a string of strong winners lately and want to be careful to not get caught in a sudden downturn. Not predicting that will happen but I would much rather see some steam let out of the market to give us even better reward to risk opportunities. Companies Reporting earnings today (November 21) Before Market Opens CPB, EV, HRL, LOW and SIG After Market Closes: CRM Companies reporting earnings tomorrow (November 22) Before Market Opens: DE After Market Closes: None ADDITIONS TO WATCH LIST We added CVA to the Watch List with more information below BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List HUN - Stock is up by 1.2% and a close above $31.06 would be bullish. Mid Cap Watch List SC - Stock hit our revised target price of $17.30 this morning so a profit alert was issues. Great trade! NFX - stock is fairly flat after making a nice move earlier in the session. A close back above the 20 day moving average, currently at $30.54, would be very bullish. OSK - Stock has pulled back from the high of the day as it tries to remain above its 20 day moving average. A close above yesterday's close of $86.59 would be bullish. Small Cap Watch List CVA - Stock was added to the Watch List yesterday at an entry price of $14.72 with a price target of $15.85 and a stop loss of any CLOSE below the 200 day moving average, currently at $14.36. Stock is up 1.35% today and a close above the 50 day moving average, currently at $15.08, would be bullish. DELETIONS FROM THE WATCH LIST SC is being removed from the Watch List as it hit our price target At your service, John Hopkins EarningsBeats