EB Watch List Update Report

Dear Members: Market Update: I wasn't crazy about the market action yesterday and not much has changed today except the oversold Dow is getting a bit of an overdue bounce while the NASDAQ is the laggard. Laggard isn't even the right word; tech stocks have dominated the action of late and its still like pulling teeth to get traders to unload some bloated stocks. The S&P falls somewhere in between; still hanging above all key technical indicators but unable to make any progress, pretty untradeable in my opinion. The VIX keeps threatening to breakout to the upside which would favor the bears but so far has been contained. I am pleased to see the NASDAQ pulling back some but I think it needs to fall even more to generate some additional buying interest. For example, pulling back to its 20 day moving average, currently at 7636, might serve as a level that could generate some buyers but even lower would be better. I did notice a story today where CNBC's Jim Cramer hit the nail on the head; The strength in Tech (and retail) has masked the weakness in the overall market. I often don't agree with him but I certainly do on this one. We'll continue to lay low here; it's not a bad strategy when the market is so choppy. And with the weekend coming up it makes some sense to wait and see what happens come Monday. Companies reporting earnings Today (June 22) Before Market Opens: BB and KMX After Market Closes: None Companies reporting earnings Monday (June 25) Before Market Opens: CCL After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any new trade alerts and will continue to be very selective BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats