EB Watch List Update Report

Dear Members: First, I wanted to let everyone know that I will be traveling next week. I will do my best to get a Market Update out every day but there could be a slight modification to the normal schedule. Market Update: You know the market is in struggle mode when the once loved NASDAQ has a hard time tacking on a few points after losing 500 points in just over a week. The continuing and growing negative sentiment has left traders gun shy and who can blame them? One thing I'm seeing for the first time in a while is all of the major indexes getting close to being technically oversold. We're not quite there yet but another day or two of selling would likely do the trick. It's not helping that all of the major indexes are technically wounded, including the NASDAQ which at one point was outshining both the Dow and S&P. Even though the market has been pounded lately it still takes some courage to jump in on the long side. We saw this yesterday with GWRE, a great candidate for a bounce, only to stop out quickly when the market went into free fall. But it does point out how important it is to have tight stops in this environment in case a trade goes against you. Bottom line here is we've now got a buyer's strike. It's interesting to think about since everyone loved stocks at much higher prices but now they don't want to touch anything. Perhaps this is a signal that the bottom is closer than we might think. But with the weekend near it's possible that traders will continue to go slow. Companies reporting earnings Today (March 23) Before Market Opens: None After Market Closes: None Companies reporting earnings Monday (March 26) Before Market Opens: PAYX After Market Closes: RHT ADDITIONS TO WATCH LIST Will added GWRE to the Watch List yesterday at an entry price of $84.16 with a stop of an Intra Day move below $83 which happened so it is now off the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List CHS - Stock is higher by 2.6% as it tried to move back above its 20 day moving average at $8.90. A close above that level would be bullish. Deletions from Watch List GWRE At your service, John Hopkins EarningsBeats