EB Watch List Update Report

Dear Members: Market Update: The S&P touched key resistance two days in a row after having bounced substantially off the bottom which was a perfect set up for some profit taking as we are seeing today. And once again the NASDAQ remains the most vulnerable as it moves back below all key technical levels as traders avoid higher risk stocks. The VIX touched key support the past two sessions as well and bounced right on cue to remind traders that the market is not out of the woods yet, even with the mid-term elections and the Fed announcement out of the way. We should remember that for a very long time the bulls were in charge; they aren't at the moment. In looking at the S&P it's pretty much in the middle between the all time high of 2950 and the most recent low of 2603, sort of no-man's land with not much conviction to hold stocks for too long. Maybe a little bit of good news for the bulls; the 20 day moving average on the S&P is converging on the 200 day from underneath and a cross back above would be a positive. The current range on the S&P is 2762 to the downside and 2816 to the upside. Until one of those goes traders are likely to remain in caution mode. Companies reporting earnings today (November 9) Before Market Opens: SSP, REV, STWD and TCRO After Market Closes ATHN Companies reporting earnings Monday (November 12) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH We added ZEN 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 ZEN - We added this stock to the Watch List this morning at an entry price of $53.81 with a price target of $59.50 and a stop of any CLOSE below $53.31. The first major hurdle for the stock will be the 200 day, currently at $55.41 and a close above that level would be bullish. Small Cap Watch List FCN - Stock is higher by 2% as it goes against the market grain. Would like to see it add on to gains and build some momentum into the close. Deletions from Watch List None At your service, John Hopkins EarningsBeats