EB Watch List Update Report

Dear Members: MARKET NOTE: More trouble in the market today with all of the major indexes down substantially. Greek troubles notwithstanding stocks have been unable to get a bid with both the Dow and S&P trading below their respective 200 day moving averages, not what the bulls want to see. Stocks aren't the only asset class lower today; so are gold and oil with bond yields down sharply as well with the ten year treasury note down 7 ticks, now at 2.20% as traders move to safety. The move lower today follows losses around the globe both in Asia and Europe so broad selling throughout the world. It should be noted that the S&P has not been below its 200 day moving average since October of last year, so this is a big deal. And while all of the major indexes have experienced heavy selling of late none of them is technically oversold, though if this type of selling continues that could change quickly. It should also be noted that the NASDAQ has so far held key support at 4900 and in fact the 60 minute divergences on both the NASDAQ and S&P are suggesting a bounce could come soon. But even if it does we've got to see a close back above the 20 day moving average on both indexes. First things first; the bulls need to hold the S&P above 2055 or the selling could deepen. The next key price support level is at 2020, where the S&P closed on February 2, a level that could present some nice opportunities. In the meantime we'll want to ride this out with caution and watch for a bottom before getting aggressive to the long side. ADDITIONS TO WATCH LISTS: There are no additions to the Watch List today. Let's get through today and see how the market closes and then revisit tomorrow. In fact, this is a time to remain disciplined while honoring stops just in case the selling continues; no need to watch losses mount. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List CTRP - Stock down over 3% in sympathy with Chinese stocks but is well off its low of the session. We will maintain our closing stop at $70. A close above that level would be very bullish. MSFT - Will maintain our closing stop at the bottom of gap support at $43 RYAAY - Again challenging its rising 20 day moving average VMW - Stock is struggling along with the market and we will maintain our closing stop at $83 Mid Cap Watch List DLB - Will maintain our closing stop at $38 GPRO - Stock going against the grain today with first key resistance near moving averages near $54 Small Cap Watch List EBIX - Stock down 5% and approaching our second entry at $31.34 TILE - Stock has hit its 20 day moving average so this triggers our re-entry at $24.16 with a second entry at $23 on further pullback. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock hits its stop loss. At your service, John Hopkins, EarningsBeats