EB Watch List Update Report

Dear Members: Market Update: The overbought oscillators on the NASDAQ are finally taking a toll on tech stocks with the NASDAQ down over 1.4% while the Dow is higher and the S&P is slightly lower. But now both the Dow and S&P are technically overbought as well, and just as the Dow moved within striking range of 24,000. Not surprisingly, the VIX is higher as well, almost 6%, and back above both its 20 and 50 day moving averages; caution flag waving today. So trader nerves are being tested today. Of course we need to keep things in perspective here. Blue chips are doing just fine today as the Dow hit another all time high. And the S&P also hit an all time high earlier before pulling back some. As far as I'm concerned, it would be healthy if we saw some more selling all the way around, especially with all of the major indexes now technically stretched. Should the selling pick up, the S&P could possibly test the 2600 level. So this is a good time to go a bit slower, see what develops as the day progresses, and go from there. Companies Reporting earnings today (November 29) Before Market Opens None After Market Closes: None Companies reporting earnings tomorrow (November 30) Before Market Opens: BKS, DCI, KR, MIK, PERY, SHLD and TD After Market Closes: FIVE ADDITIONS TO WATCH LIST We added DVN 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 AMT - Stock is down by 1.4% as it pulls back to its 20 day moving average, currently at $146.54. Would like to see it hold that level to get back on track. DVN - We added DVN to the Watch List yesterday at an initial entry price of $37.23 with a second entry on any pullback to $36.55 with a price target of $40.50 and a stop of any close below the 200 day moving average. A close above $37.82 would be very bullish. Mid Cap Watch List NFX - stock is higher as it tries to move back above its 20 day moving average, currently at $30.42. It was above that level earlier in the session and a close back above that level would be bullish. OSK - Stock is up higher by 1.2% as it gets closer to our target of $89. It has some resistance right at $88.67, the high of the day. If it can clear that level it has a shot at the $89 level. Small Cap Watch List CVA - Stock is higher by 1%. A close above $15.40 would be bullish. DO - Stock is down slightly after touching its 20 day moving average earlier in the session. A close above that level, currently at $16.01, would be bullish. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats