EB Watch List Update Report

John Hopkins - August 17, 2018

Dear Members: Market Update: The S&P has actually been consolidating for about a month now, unable to penetrate the all time high but showing no signs of breaking down. On the one hand that's good news for the bulls. On the other hand many stocks continue to spin their wheels, going nowhere fast. And in fact, some of the "high flyers" like Facebook and Netflix (part of the "FANG" contingent) have struggled mightily of late, which might help explain why the NASDAQ has now become the weakest of the 3 major indexes while blue chips are now in favor. The bulls could also argue that the action the past month is just fine, and they have a point. In fact, it would only take a strong day or two for the S&P to revisit its all time high and we've seen time and again that the bulls are able to hold the line anytime a key level of support is reached. This is why it's still difficult to short the market; any pullback is seen as a buying opportunity. At the same time, being stuck in a trading range helps to put the brakes on big advances on individual stocks. That could potentially change if the S&P was able to break through the 2872 level. Until then it makes most sense to remain patient and nibble here and there. Companies reporting earnings today (August 17) Before Market Opens: DE After Market Closes: None Companies reporting earnings Monday (August 20) Before Market Opens: EL 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 pulled back to our stop level before bouncing some. As a reminder, any CLOSE below $11.10 and the stock will be removed from the Watch List. A close above the 50 day, currently at $11.65, 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