EB Watch List Update Report

Dear Members: Market Update: The shift in trader preference continues today with blue chips very much in favor while tech stocks continue to struggle. While the NASDAQ struggles to reclaim its 20 day moving average the Dow is at its highest level since January 29 and now within striking distance of its all time high. And the S&P is holding just fine as it remains one burst closer to its all time high. In some ways the recent action can be seen as a positive; the Dow has struggled to keep pace with the NASDAQ for a long time and getting back in sync is what the market needed. So the rotation might just prove to be a positive for the bulls, especially if traders decide to start taking advantage of the pullback in tech stocks. Also on the positive side; the VIX is showing renewed confidence as it shows signs of moving down to levels not seen since early August when it dipped back into the 10's. It still remains a stock pickers market; all stocks are not created equal. And it still makes sense to keep tight stops, especially in tech stocks and until the NASDAQ gets back on track. If the bulls can manage to take both the Dow and S&P above their all time highs - 26,626 and 2916 respectively - that could create some new excitement. In the meantime we know that things can change quickly so best to be prepared for any sudden shifts in sentiment. Companies reporting earnings today (September 19) Before Market Opens: None After Market Closes: RHT Companies reporting earnings tomorrow (September 20) Before Market Opens: DRI and THOR After Market Closes: MU, SCS and UNFI ADDITIONS TO WATCH LIST We added VRNT to the Watch List this morning with additional details below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List STAY - Stock closed below our stop of $19.70 so is being removed from the Watch List. We are going to keep an eye on this one to see if there is an even better entry level and higher reward to risk opportunity once the selling slows. VRNT - Stock was added to the Watch List this morning at an initial entry price of $46.50 with a second entry on any pullback to $45.50 with a price target of $51 and a stop of any CLOSE below $45.20. Small Cap Watch List TLYS - Stock is fairly flat. A close back above the 20 day moving average, currently at $18.77, would be bullish. Deletions from Watch List STAY At your service, John Hopkins EarningsBeats