EB Watch List Update Report

Dear Members: Market Update: I pointed out in yesterday's update that the market is not healthy. Nothing has changed today with all of the major indexes lower. The NASDAQ continues to be the only major index above all key technical levels and once again mostly because of a handful of large market cap stocks. On the other hand the Dow and S&P remain very weak as they are both below their respective 20 and 50 day moving averages and with the S&P at the same level it was back in early January. This current churning of stocks is problematic for both the bulls and the bears. And it's problematic for traders as well maybe excepting some of the most skilled day traders who are trying to make money by scalping in a narrow range. The S&P got as low as 2704 this morning before bouncing to its 20 day moving average, so directionless. From my perspective the going nowhere environment currently favors the bears. If the bulls can manage to close the S&P back above 2740 that would help their cause. To the downside, if 2704 goes then the next key level of support is at 2675. In the meantime its best to go very light here and preserve as much capital as possible. Companies reporting earnings Today (March 7) Before Market Opens ANF and DLTR After Market Closes: CZR, COST and THO Companies reporting earnings tomorrow (March 8) Before Market Opens: AEO, DVMT, FCEL, HOV, KR, NAV, RDNT, RAND, TECD and MTN After Market Closes: CERS, COO, MRVL, PRTS, UNFI and PAY ADDITIONS TO WATCH LIST Will keep you posted on any new trade alerts. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List NVDA - We issued a profit alert on NVDA earlier in the session at $243.90. If you continue to hold you should consider raising your stop. Also, if the stock can close above $244.09 the next key level of resistance should be near our initial target price of $248. Mid Cap Watch List None Small Cap Watch List INVA - Stock is higher by 1.5% but still continues to struggle to make any further headway much above $16. As it was mentioned yesterday we changed the stop on INVA to any CLOSE below its 20 day moving average, currently at $15.75. If it closes below that level it will be removed from the Watch List. But don't hesitate to take profits here if you prefer to move to the sidelines. Deletions from Watch List NVDA At your service, John Hopkins EarningsBeats