EB Watch List Update Report

John Hopkins - December 11, 2018

Dear Members: When the bears have a grip on the market it's tough for the bulls to grab back the momentum with all of the major indexes higher but struggling to hold gains. It's not helping one bit that all of the major indexes remain below key technical levels and none of them are oversold. One thing I've noticed on the VIX is it doesn't seem to have any problem shooting higher when the market detects any selling and it's tough to get it lower even when stocks are climbing. And of course short term gains are REALLY short; witness GOOS which made a very nice move early on only to give it all up plus more as profit taking kicked in and is a reminder that expectations in the near term need to be lowered. It's certainly difficult to predict when the momentum might shift; will there be a point when traders feel its worth the risk to take on some more trades? In looking for any promising signs we did see a very nice recovery off of yesterday's bottom with some follow through today. But we're going to need more than back to back days of gains for the market to progress which might be tough if traders keep selling into strength. Companies reporting earnings today (December 11) Before Market Opens: None After Market Closes None Companies reporting earnings tomorrow (December 12) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH Will keep you posted on any additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List WMGI - Stock is fairly flat after making a decent move earlier in the session. Would like to see it revisit that $27.50 level and move through which would be bullish. GOOS - Stock made a nice move higher early on only to give up all the gains. We'll keep our dual stops of either a close below $55.50 or any INTRA DAY move below $54.90 and a close back above the 50 day moving average, currently at $57.87, would be bullish.. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats