EB Watch List Update Report

Dear Members:. First, please note the recording of Monday's High Reward to Risk Trading Candidates is now ready for your review: https://www.earningsbeats.com/public/Identifying-High-Reward-to-Risk-Trading-Candidates.cfm Market Update: The NASDAQ tried to get back to its all time high today just like the S&P did earlier in the week. It got within striking range of that all time high of 7933 this morning before stalling and giving up all of the earlier gains. It shows once again that clearing key resistance levels is not so easy, especially when it includes taking out an all time high on a major index. In fact there are still plenty of bears who will contend that the market is topping out here. Whether or not that turns out to be true remains to be seen. But there's always added risk getting aggressive to the long side when the market is bumping up against important resistance. We still have a VIX that shows concern has diminished. However that could change quickly if enough traders decide in unison to take profits and move to the sidelines. As usual the bulls are likely seeing this as nothing more than a very temporary pause in the action and who can blame them? Virtually every pullback throughout the year has been seen as a buying opportunity. So I wouldn't make much of today's market behavior one way or another though that could change as the day progresses. Companies reporting earnings today (August 23) Before Market Opens: BABA, HRL and TTC After Market Closes: GPS, HPQ and INTU Companies reporting earnings tomorrow (August 24) Before Market Opens: FL After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any new additions to the Watch List 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 continues to consolidate. A close above the 200 day, currently at $11.77, would be bullish. WGO - Stock is lower by 2.4% and got within .10 of our second entry level of $36.30. Will keep our tight stop of any INTRA DAY move below $36 in place in case it continues moving lwer. Deletions from Watch List None At your service, John Hopkins EarningsBeats