EB Watch List Update Report

Dear Members: Market Update: Stocks are higher today, much like they have been most days for quite a while. In fact, the S&P has hit an all time high while the Dow is close to its all time high as well. The NASDAQ continue to lag; blue chips and non-tech are simply more in vogue at the moment. The VIX remains in the mid 9's, not that far off of the all time low in the mid 8's. In other words, traders are in a mellow mood. The Fed has started day one of its two day FOMC meeting that will culminate in a rate announcement tomorrow afternoon. The market is prepared for the Fed to raise rates by .25 and will be listening to the accompanying statement to see what they might be thinking for the future. The S&P is technically overbought with the Dow not far behind. On the other hand the NASDAQ has lots of room to move higher before it gets to that overbought level. Now that we've got a new all time high on the S&P what might be next? It would seem reasonable for the bulls to set their sights on 2700; it's certainly within striking range. But first we'll want to see if today's gains hold into the close which would be bullish. Companies Reporting earnings today (December 12) Before Market Opens None After Market Closes: None Companies reporting earnings tomorrow (December 13) Before Market Opens: None After Market Closes: PIR ADDITIONS TO WATCH LIST We added EXTR 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 DVN - Stock is up slightly and a close above $38.84 would be very bullish. PANW - Stock is up slightly and a close back above the 50 day moving average, currently at $145.86, would be a positive development. Mid Cap Watch List None Small Cap Watch List DO - Stock exceeded our price target of $16.95 this morning so is being removed from the Watch List. GREAT TRADE!. IMAX - Stock is higher by over 2.5% and is back above its 200 day moving average. Would like to see a strong close with our price target remaining at $26.50. KLIC - Stock is down slightly as it continues to consolidate above its 50 day moving average and and a close above the 20 day moving average, currently at $24.71, would be very bullish. SCVL - Stock is down slightly as it continues to consolidate above its 20 day moving average. A close back above Friday's close of $25.77 would be bullish. HIMX - Stock is flat. A close above the 50 day moving average, currently at $10.99, would be bullish. EXTR - Stock was added to the Watch List this morning at an entry price of $12.39 with a price target of $13.50 and a stop of any close below its 50 day moving average, currently at $12.31. A close back above the 20 day moving average, currently at $12.72 would be very bullish. DELETIONS FROM THE WATCH LIST DO is being removed from the Watch List as it exceeded our price target. At your service, John Hopkins EarningsBeats