EB Watch List Update Report

Dear Members: Market Update: The weakness in the tech sector has taken some shine off the market. Even though the NASDAQ is up slightly today it's having a difficult time making any progress. It's back below its 20 day moving average giving the bears some technical advantage. And when it makes any move to the upside traders are quick to take advantage by unloading positions. The good news for the bulls is both the Dow and S&P remain above all key technical levels. In fact, none of the major indexes are currently overbought. And the VIX remains relatively low on an historical basis; no panic in the air. But the market always does much better when all of the major indexes are in sync and at the moment they're not. The market could perk up quickly if the bulls can manage to get the NASDAQ back over its 20 day, currently just below 6800. In the meantime it makes sense to go slow here; there's no guarantee the NASDAQ will climb back above its 20 day and in fact we could easily see additional selling. Bottom line: Let's see some further evidence that the selling is slowing and if a near term bottom is detected there will be plenty of new opportunities to take advantage of. Otherwise no need to chase here. Companies Reporting earnings today (December 6) Before Market Opens AEO, HRB, HBC and VRA After Market Closes: AVGO and LULU Companies reporting earnings tomorrow (December 7) Before Market Opens: CIEN, DG, DLTH and MTN After Market Closes: COO ADDITIONS TO WATCH LIST PLEASE NOTE: The Candidate Tracker will be updated today. When complete there will be over 275 stocks on the list, some that will become trade alerts. We will keep you posted. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List DVN - Stock is lower by almost 2% and has pulled back below its 20 day moving average Intra Day. Need to see it close back above that level, currently at $38.03, to get back on track. Mid Cap Watch List None Small Cap Watch List CVA - Stock has pulled back below both its 20 and 50 day moving averages. The stock is still above our original entry price and since it is technically challenged. WE ARE REMOVING CVA FROM THE WATCH LIST at the current price of $14.87. DO - Stock is down by almost 4% and has fallen below its 20 day moving average Intra Day. Would like to see it close back above that level, currently at $16.17. IDTI - Stock is fairly flat. Would like to see it close back above its 20 Day moving average, currently at $29.79. IMAX - Stock is down slightly. As a reminder we have a second entry at $23.45. KLIC - Stock is up slightly. A close above yesterday's high of $24.60 would be bullish. DELETIONS FROM THE WATCH LIST CVA is being removed from the Watch List. At your service, John Hopkins EarningsBeats