EB Watch List Update Report

Dear Members: An abbreviated report on an abbreviated market day with all of the major indexes continuing to get pounded. Right now the major problem for the longs is this; the VIX continues to rise, moving above 33 for the first time since February. Having a VIX that high makes it very tough for traders to commit to the long side, even with the market now at extreme oversold levels. Also the VIX got as high as 50 in February before traders dipped their toes in the market; perhaps we need something even more extreme to get traders off the sidelines. At some point we're likely to get a decent bounce; could be soon or could still be a few days. The problem is the market is too beaten down to look at shorting here and any short term gains are taken quickly. So the path of least resistance at this exact moment is to be in cash which could come in handy when the market does find a bottom. Wishing everyone the best of the Holidays! At your service, John Hopkins EarningsBeats