EB Watch List Update Report

Dear Members: Market Update: The market is taking a rare day off with all of the major indexes lower. Really it's not a bad thing; the market is extended though it is possible it could remain extended into year end. The VIX is higher by 3% but still below all key technical levels so no major concern there. If we were to see some additional selling the S&P should have support right around 2660. To the upside, 2695 is a level the bulls need to clear if they hope to take the market higher. We are in a very bullish period of the year which should continue to help the bulls; any little bit of selling could be seen as a buying opportunity, overbought or not. It still makes sense to focus on those stocks that traders gravitate to; companies that beat earnings and pull back to key support levels. This has proven to be a good strategy in most market environments. Companies Reporting earnings today (December 19) Before Market Opens DRI, NAV and WOR After Market Closes: FDX, MU, RHT and SCS Companies reporting earnings tomorrow (December 20) Before Market Opens: BB, GIS and WGO After Market Closes: BBBY and MLHR ADDITIONS TO WATCH LIST We added GRA and SBAC 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 by 2% and a close back above $38.78 would be bullish. SBAC - Stock was added to the Watch List this morning at an initial entry price of $160.93 with a second entry on any pullback to $158.25 and a price target of $171 and a stop loss of any CLOSE below $157. Mid Cap Watch List GRA - Stock was added to the Watch List this morning at an entry price of $71.27 with a price target of $75.50 and a stop of any CLOSE below the 200 day moving average, currently at $70.61. Small Cap Watch List IMAX - Stock is higher by 1.3% as it continues to try to get back above its 200 day moving average. Would like to see it close back above $25.20 which would be bullish. KLIC - Stock is down slightly but remains above all key technical levels. A close above $25.22 would be bullish. ACLS - Stock is up by slightly. The next key resistance remains at the 20 day moving average, currently at $30.71. AVID - Stock is up by 4.7%. A close above $6.27 would be very bullish. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats