EB Watch List Update Report

Dear Members: Market Update: So what's different today than yesterday as the market erases losses from Wednesday's session? The headlines say there could be resumptions of trade talk with China. Another plausible reason; options squaring before tomorrow's expiration. It's also not hurting that Walmart is higher by almost 10% as a result of better than expected earnings. Whatever the reason we see once again that the bulls didn't like the idea of further selling as they held the line right on cue at important support levels. In fact in just 24 hours we've seen all of the major indexes go from technically vulnerable to back above all key technical levels. And we've seen the VIX do a turnaround from yesterday's sharp move higher to being lower by over 11%. This extreme volatility has a way of throwing traders for a loop; wondering one day if it makes sense to exit the market and then the next day wishing they had held their long positions. Actually what we are seeing is the S&P continuing to trade in a range of 2800 to the downside (where it held yesterday) to 2872 (the all time high) to the upside. So what's a trader to do in this type of environment? Continue to be ultra selective; it's still a stock pickers market with a very select number of stocks outperforming the market with many others having a hard time gaining any traction which is common in a whipsaw market. Thus grab those profits when they come along and keep tight stops to avoid any major losses. Sooner or later the market environment will allow for longer holding periods and much better reward opportunities. Companies reporting earnings today (August 16) Before Market Opens: WMT After Market Closes: JWN and NVDA Companies reporting earnings tomorrow (August 17) Before Market Opens: DE After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any new trade alerts BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List CSTM - Stock is up slightly as it tries to move back above its 200 and 50 day moving averages. A close above the 50 day, currently at $11.68, would be bullish. CLF - Stock will be added to the Watch List if it pulls back to $9.30. Price target is $10.50 with a stop loss of any INTRA DAY move below $9. Deletions from Watch List None At your service, John Hopkins EarningsBeats