EB Watch List Update Report

Dear Members: MARKET NOTE: China's surprise monetary devaluation continues to plague the market today with all of the major indexes down substantially. In addition bond yields continue to fall with the ten year treasury note now below 2.10%, bearish for the financial sector which is leading the charge lower with the XLF down almost 2%. And the dollar is weak today as well as it becomes abundantly clear the Fed won't be raising rates anytime soon. At this point only the NASDAQ remains above its 200 day moving average with the Dow close to testing early February lows. Really nothing to point to as bullish with the minor exception that the Dow is getting close to being technically oversold. And with the selling perhaps some new buying opportunities on a selective basis. KEY EARNINGS REPORTS Companies reporting earnings today (August 12) include: CSCO, M, NTES and NWSA Companies reporting earnings tomorrow (August 13) include: AMAT, COTY, KSS and JWN ADDITIONS TO WATCH LISTS: Addition - We are adding NuVasive (NUVA) to our Mid Cap Watch List with a first entry at the current price of $52.42 and a second entry at $50.50 with a price target of $60 and a closing stop of $49. We will add the chart and all important information to the Watch List section on our site today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List C - Sharp reversal today with the stock hitting our second entry price of $56.46. Holding gap support at $56.41 would be bullish while failure to do so would likely keep the stock under pressure. Also, watch the 10 year treasury yield ($TNX). If the yield closes below 2.10%, we could see additional selling pressure on banks as rising yields have coincided with strength in this industry group. COTY - Please note that this stock is set to report earnings tomorrow so we took it off our Watch List yesterday at $29.54. STJ - Moderate selling on light volume. Gap support from $68.85 (bottom of gap) to $69.88 (top of gap) is the support zone that STJ needs to hold technically. Also a reminder that our second entry is at $70. Mid Cap Watch List No comments today Small Cap Watch List RUBI - Just a reminder that this stock hit our second entry level yesterday at $15.40. Today it opened above gap support but currently trading beneath it on very light volume. Recovery and a reversing candle would be bullish at this level on the chart. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. At your service, John Hopkins, EarningsBeats