EB Watch List Update Report

Dear Members: Market Update: Day five of selling with all of the major indexes lower but well off the bottom on a much weaker than expected jobs report. You have to go back to mid December as the market was correcting to see five consecutive days of selling. And on the climb off of the bottom it was rare for the market to be down even two days in a row. Naturally the VIX is higher; it challenged its 50 day moving average, currently at 18.15, before pulling back some. But a close back above that level could put more pressure on stocks. The recent bout of selling has certainly relieved the overbought conditions. In fact another day or two of selling and the market would likely be oversold. The very weak jobs report could turn out to be a one-off but it missed expectations by so much that it was inevitable that traders would see it as a big negative. So now it's about "what's next" that could put traders back in a buying mood. Hard to say but we just might need to see more selling, especially if enough analysts and traders come to the conclusion that the the recent high on the S&P just below 2817 marked a near term top. Of course we've seen traders more than willing to buy on dips the past 2.5 months; will this time be any different? It's hard to say but as long as the S&P remains below its 20 day moving average, currently at 2757, the technical advantage belongs to the bears. Companies reporting earnings today (March 8) Before Market Opens: MTN After Market Closes None Companies reporting earnings Monday (March 11) Before Market Opens: , None After Market Closes: ADT ADDITIONS TO WATCH LIST JBHT hit our initial entry level of $101.65 yesterday so has now been added to the Watch List with additional information below. 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 JBHT - Stock was added to the Watch List when it pulled back to $101.65 with a second entry on any pullback to $99.68. It got within .10 of the second entry before bouncing some. Would like to see it at least close back above yesterday's close of $101.90. Mid Cap Watch List COLM - Stock closed below the 20 day moving average yesterday so was removed from the Watch List. If for some reason you continue to hold the stock it would be bullish to see it close back above the 20 day, currently at $101.36. VSH - Stock hit our second entry price of $19.95. As a reminder the stop is any CLOSE below the 50 day moving average, currently at $19.94. If it closes below that level it will be removed from the Watch List. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats