EB Watch List Update Report

Dear Members: Good morning! First, I wanted to let you know that we just added a FAQ section to the EarningsBeats.com site. It's still a work in progress- there's still plenty to add - but we've at least addressed those questions we get most often. And a big shout out to Erin Webber who helped us get it off the ground! https://www.earningsbeats.com/public/FAQ.cfm Market Update: I'm doing something I don't usually do and that is to cut and paste a few sentences from yesterday's market update. Here they are. "We could be at a near term "do or die" moment; probably not so dramatic but two key levels approaching; 8048 on the NASDAQ and 2946 on the S&P, both representing respective 50 day moving averages. These levels are important since the bulls have been unable to climb above since the beginning of the month which has kept traders from getting overly aggressive. And it's one of the reasons we have held off on trade alerts; the market hasn't gone anywhere recently. So these are the levels we are keeping an eye on to see if the bulls can build on the recent momentum. In the meantime let's see if the 20 day on the S&P, currently at 2918, holds on any selling. If it doesn't then the technical advantage remains with the bears." I'm going out of my way to point this out since the NASDAQ got exactly to 8048 yesterday and the S&P almost touched 2940 before stalling. Then lo and behold this morning; more tariffs and all of yesterday's gains and more evaporated and all of the major indexes quickly fell back below their respective 20 and 50 day moving averages. This whipsaw type action might be great for day-traders but not so good for those who are looking for higher reward to risk opportunities without worrying about stops coming into play out of nowhere and profits disappearing just as quickly. Traders are also straining their ears listening for any clues from Fed Chairman Powell who is speaking at Jackson Hole today to see if he'll strike a more dovish tone or stick to his guns and remain more in a "wait and see" mode. It's good to see the S&P at least trying to hold its 20 day and the S&P trying to do the same. But...how long does this last? Plain and simple; this is not a stable market and at the moment the bears have to be respected. And if we do issue any trade alerts they are likely to have slimmer price targets and tighter stop losses. But remember that cash is a position too and patience can be rewarded. Also remember we have our 3 portfolios - Model, Aggressive and Income - which are meant to take the emotion out of the trading process for those looking for less day to day drama. Bottom line: we are going to remain cautious until we see something that changes the current narrative knowing there will be plenty of even better opportunities at the right time. Companies reporting earnings today (August 23) Before Market Opens: FL After Market Closes None Companies reporting earnings Monday (August 26) Before Market Opens: BILI After Market Closes: None STRONG EARNINGS CHARTLIST/TOP 10 STOCK PICK PORTFOLIOS/ADDITIONS TO WATCH LIST We will continue to be very selective on individual trade alerts and 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 None Medium Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats.com