EB Watch List Update Report

Dear Members: Market Update: The bears woke up to bright red futures which to them was a great way to start a new trading day and week. They were especially hopeful that the NASDAQ would shave off some points, which it did early on, only to regain a lot of them as the morning progressed and once again showing that tech stocks can do no wrong. The Dow and S&P are off their respective session lows as well. However both of them challenged their 20 day moving averages earlier in the morning while the NASDAQ remains comfortably above all key technical levels. Two of the three major indexes continuing to struggle still remains a problem for the overall market and at some point we're going to need to see some catch up; either non-tech stocks start gaining some traction or tech stocks are reeled in some so the market is more in sync which would be much more healthy. We're still about 30 days away from Q2 earnings season so traders will continue to look for other reasons to get involved on the long or short side. But as we have seen first hand lately trying to short stocks, even when the NASDAQ is stretched and the Dow and S&P are vulnerable, remains challenging. Right now the range on the S&P is 2750 to the downside and 2800 to the upside. The S&P got as low as 2757 before bouncing some so we'll have to see what the afternoon brings. Companies reporting earnings Today (June 18) Before Market Opens: None After Market Closes: None Companies reporting earnings tomorrow (June 19) Before Market Opens: None After Market Closes: FDX, LZB and ORCL ADDITIONS TO WATCH LIST We sent out a Long Alert on PLAB with additional information below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: JACK - Stock moved above the Intra Day stop of $86.15 so is being removed from the Watch List. LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List PLAB - Entry price on this stock is $8 with a price target of $9 and a stop of any INTRA DAY move below $7.85. PLEASE NOTE that if the stock does not pull back to $8 it will not be active on the Watch List. Deletions from Watch List JACK At your service, John Hopkins EarningsBeats