EB Watch List Update Report

Dear Members: Market Update: I did say recently that the bulls would like to take a shot at 2700 on the S&P. They got within 5 points of that level earlier this morning as the market is off to a strong start with all of the major indexes hitting record highs. Trader confidence remains high with the VIX not that far from the all time low. Overbought or not, stocks are in vogue. It's good to see all of the major indexes moving higher in unison; the NASDAQ has finally caught up after lagging for a while. In fact the NASDAQ is within easy striking range of 6700 for the first time ever. Additionally, small cap stocks have joined the part as well after lagging as well. It's also helping that we're in a very bullish time of the year. It does get trickier to get more aggressive as the market climbs to lofty levels. Bottom line? Bulls remain in charge. Companies Reporting earnings today (December 18) Before Market Opens None After Market Closes: None Companies reporting earnings tomorrow (December 19) Before Market Opens: DRI, NAV and WOR After Market Closes: FDX, MU, RHT and SCS ADDITIONS TO WATCH LIST We added AVID to the Watch List today with more details below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List DVN - Stock is up slightly after testing and holding at its 50 day moving average earlier in the session. A close above $38.43 would be bullish. PANW - Profit alert was issued on the stock Friday so it is removed from the Watch List. Mid Cap Watch List None Small Cap Watch List IMAX - Stock is up slightly and would like to see it close back above $25.20 which would be bullish. KLIC - Stock is up by almost 2% but off the session high. A close above $25.22 would be bullish. EXTR - Stock closed below its stop loss Friday so is removed from the Watch List. ESIO - Stock closed below its 20 day moving average on Friday so is removed from the Watch List. A nice winner. Great Trade! ACLS - Stock is up by over 1.3% though off the session high. The next key resistance is at the 20 day moving average, currently at $30.84. AVID - Stock was added to the Watch List this morning at an initial entry price of $5.92 with a second entry on a pullback to $5.70 with a target of $6.90 and a stop of any INTRA DAY move below $5.58. A close above the 20 day moving average, currently at $6.09, would be very bullish. DELETIONS FROM THE WATCH LIST PANW, EXTR and ESIO are removed from the Watch List At your service, John Hopkins EarningsBeats