EB Watch List Update Report

Dear Members: Market Update Not only are traders dealing with the fallout of a stalled US/China trade deal, they're now wondering how one of the biggest IPO's in a long time, Uber, will open once it starts trading. Yes, it's only one stock. But it's also a proxy for the IPO market which has been very active and especially on a day when the market is sharply lower and with traders wondering if the market is rolling over here. It's a valid question with all of the major indexes below key technical levels and with the DOW closing in on its 200 day moving average and with the VIX showing traders on edge. Toss in the fact that we're going into the weekend and traders are wondering if its worth the risk to be long at the moment. But...traders also know that the market could be one tweet away from recovering and its true. So though the risk right now appears to be to the downside things could turn around quickly which the shorts need to keep in mind. But we have to respect the charts here that currently favor the bears. That hasn't been the case much over the past six months. The S&P got as low as 2825 which is now support. Should that go 2800 comes next. To the upside the 50 day, currently at 2860, is now key resistance. Companies reporting earnings today (May 10) Before Market Opens: MAR, TRCO AND VIA After Market Closes None Companies reporting earnings Monday (May 13) Before Market Opens: None After Market Closes: LM and TTWO ADDITIONS TO WATCH LIST 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 MSFT - Stock is lower by 1%. Would like to see it close back above its 20 day moving average, currently at $125.14. Mid Cap Watch List SAIC - Stock is down slightly and a close above $76.41 would be bullish. Small Cap Watch List MTOR - Stock is lower by 2.9%. As a reminder the stop is any CLOSE below $22. If it closes below that level it will be removed from the Watch List. Deletions from Watch List None At your service, John Hopkins EarningsBeats