EB Watch List Update Report

John Hopkins - November 26, 2018

Dear Members: The bulls are happy to start off the new trading day and week on such a positive note with all of the major indexes higher. There certainly hasn't been much to cheer lately so any gains beat the alternative. The problem with trying to trade and expecting success in the near term is the continuing high volatility; there's very little confidence that early gains will still be there by day's end. It's doubly complicated by the fact that all of the major indexes remain technically broken which has made it so difficult to convince traders to get aggressively long. For example, it would take another day like today plus some more points for the S&P to even test its 20 day moving average from underneath. Not to say that won't happen but with gains being taken on any rallies it becomes harder to achieve. The market was oversold coming into the day - especially on the Dow and S&P - so it's no surprise to see some bargain hunting. But this is one of those times that even if we miss a bounce here or there it's not the end of the world; stocks could still get a lot cheaper. There are a few things going on this week that could impact the market including the Fed chairman speaking at an economic event on Wednesday. There's also the upcoming G-20 summit where the issue of trade policies/tariffs will be center stage. So plenty to keep traders on their toes with a decent possibility that they will continue to err on the side of caution. Companies reporting earnings today (November 26) Before Market Opens: None After Market Closes None Companies reporting earnings tomorrow (November 27) Before Market Opens: EV and CBRL After Market Closes: CRM ADDITIONS TO WATCH This is a time to be VERY picky while waiting for even better opportunities. If we spot something that looks promising we will let you know. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List Deletions from Watch List None At your service, John Hopkins EarningsBeats