EB Watch List Update Report

Dear Members: Market Update: Any way you cut it traders got very reluctant to put capital to work on the long side when the S&P tested key resistance near 2817 the other day. Even though the bulls continue to show interest on dips the VIX is starting to show at least some mild concern that the market could have put in a near term top. There are still plenty of stocks that have had massive runs to the upside that have stubbornly held onto substantial gains that are vulnerable to profit taking. I did want to share some information I picked up from a recent article that might help to explain why the market has held up so well since the December lows. Stock buybacks are on a record pace as companies use funds generated from last year's tax cuts to prop up prices. What makes this so interesting is there's been a move away from investors buying individual stocks with ETF's getting more attention. If this is indeed the case one wonders what might happen once corporate buybacks slow down. For today we'll want to keep an eye on Monday's low on the S&P of 2767. If that goes then 2750 would be next. To the upside that 2817 level remains key resistance and everyone knows it. Companies reporting earnings today (March 6) Before Market Opens: DLTR, DCI and THO After Market Closes AEO Companies reporting earnings tomorrow (March 7) Before Market Opens: , BKS, HRB, IGT, KR and TECK After Market Closes: COST and MRVL ADDITIONS TO WATCH LIST Will issued a long alert on JBHT yesterday with an initial entry price of on any pullback to $101.65. If it reaches that level on a pullback it will be added to the Watch List. We will keep you posted on any new additions to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List COLM - Stock is down slightly with our second entry on any pullback to the 20 day ema, currently at $101.42. Note also that our stop is any CLOSE below the 20 day. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats