EB Watch List Update Report

Dear Members: Market Update: Anyone who has been involved in the market for any length of time knows how much traders hate uncertainty. And at the moment there's plenty of uncertainty to go around which is keeping the market at bay. From uncertainty about tariffs, to falling government bond yields in spite of the Fed rate raising campaign, to avoidance of non tech stocks, traders have moved into super cautious mode and with good cause. Even though the VIX is down slightly today it soared higher yesterday, clearing all important technical levels while reaching levels not seen since late April. And the hesitancy to buy blue chip stocks comes even as the Dow is technically oversold. One positive so far is the S&P moved to the level I thought it would yesterday, right near 2700, and bounced to move back above its 50 day moving average. But the NASDAQ closed below its 20 day for the first time since the beginning of May yesterday and in this particular market if traders are losing their appetite for tech stocks the market is going to have a tough time gaining any traction. I actually think we need more selling which might get some traders off the sidelines. For example, the NASDAQ testing its 50 day, currently at 7418. It got as low as 7477 yesterday so it wouldn't take much to get there. In the meantime, the S&P is currently in a very tight range of 2700 to the downside and 2750 to the upside. It's pretty much in the middle of the range right now; that's not much to work with which means we want to continue to be very selective here while keeping tight stops on those trades that don't work out. A few percent loss here and there is acceptable; a bunch of double digit losses is not. Companies reporting earnings Today (June 26) Before Market Opens: LEN and SCHN After Market Closes: SONC Companies reporting earnings tomorrow (June 27) Before Market Opens: GIS, PAYX and UNF After Market Closes: BBBY, FUL, PIR, PRGS and RAD ADDITIONS TO WATCH LIST We'll be looking at updating the Candidate Tracker soon. The number of companies reporting earnings lately has been small compared to what we will see when earnings season gets under way in about three weeks. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List EXPD - Stock is down slightly and remains oversold. As a reminder we have a second entry on any pullback to $71.25 with a price target of $77.50 and a stop of any INTRA DAY move below $70.70. Mid Cap Watch List None Small Cap Watch List CSOD - Stock is up slightly as it remains above its 50 day moving average. A close above $48.82 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats