EB Watch List Update Report

Dear Members: Market Update: A lot of traders would argue that as goes Apple goes the market and that argument would stand up today with the stock down 5% as it drags the overall market lower as we begin a new trading day and week. AAPL has been struggling since the beginning of October when its slide started with the stock now down 16% since its all time high. So it's very much in sync with some of the other high flying tech stocks like Amazon, Facebook and Netflix which have had a hard time catching a bid. The selling today has gotten traders back into nervous mode with the VIX up nearly 15% as it climbs back above all key technical levels. And both the NASDAQ and S&P are back below all key technical levels; traders aren't in a buying mood. Since tech stocks are leading the market lower today we need to look closely at the NASDAQ where the next key level of price support is at 7178. It's certainly within easy striking distance of that number having already dipped below 7200 earlier in the session. What's really interesting about the pullback of the past several sessions is many of the stocks that had gotten very oversold and bounced nicely are back to levels that present very high reward to risk opportunities. This is why we issued alerts on a few stocks today; they may stop out but the upside potential on all of them is very high relative to the downside risk. And if the market falls even more there will be even better opportunities. We'll keep an eye on what develops as the day progresses and go from there. Companies reporting earnings today (November 12) Before Market Opens: None After Market Closes None Companies reporting earnings tomorrow (November 13) Before Market Opens: AAP, BZH, HD and TSN After Market Closes: None ADDITIONS TO WATCH We added GOGO, CLDR and HEAR to the Watch List this morning with additional details below. In addition PVTL reached our pullback level today on an alert we issued last week so is being added to the Watch List with additional details below. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List ZEN - Stock is lower by 4% today and currently trading below our CLOSING stop of $53.31. If it can close back above that level by day's end that would be bullish. FCN - Stock is lower by 1.25%. Any close back above the 20 day moving average, currently at $68.75, would be bullish. PVTL - Stock was added to the Watch List as the entry price on a pullback to $17.35 was triggered. The price target is $19.45 with a stop of any CLOSE below $17. Small Cap Watch List GOGO - Stock was added to the Watch List this morning at an entry price of $5.95 with a price target of $7 and a stop of any CLOSE below $5.57.A close above $6.18 would be bullish. CLDR - Stock was added to the Watch List this morning at an entry price of $12.30 with a price target of $14 and a stop of any INTRA DAY move below $12.15. If it can hold that level and build into the close that would be bullish. HEAR - Stock was added to the Watch List this morning at an entry price of $15.30 with a price target of $17.65 and a stop of any CLOSE below its 200 day moving average. Deletions from Watch List None At your service, John Hopkins EarningsBeats