EB Watch List Update Report

Dear Members: MARKET NOTE: We're seeing some follow through buying after yesterday's nice move higher. All of the major indexes remain well below key technical levels but so far the S&P has easily held October's lows. The VIX is down over 15% but still remains elevated though at a level well below where it was during Monday's panic selling. The move higher today might partly be due to a stronger than expected Q2 GDP second estimate to go along with a strong durable orders report yesterday. This has put pressure on government bond yields with the ten year treasury note now at 2.17%, a strong move after the recent low of 1.9%. Now I want to see if buyers emerge on any pullback; that would be a positive sign. KEY EARNINGS REPORTS Companies reporting earnings today (August 27) include: ADSK, BURL, DG, GME, SJM, MIK, PDCO, SDRL, SIG, SPLK and TIF Companies reporting earnings tomorrow (August 28) include: BNS.TO and BIG ADDITIONS TO WATCH LISTS: The wild volatility throughout the week has made it very difficult to pinpoint if/when the selling of late is over or will we see another test of the most recent lows? Let's remember that the worst thing to do is to try to chase a rally and also need to point out that all of the major indexes are technically broken. So going to hold off adding any other stocks at the moment until we get more comfortable that the worst of the selling is over. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List AMZN - Stock has moved up nicely since our initial entry and has moved back above its 20 day moving average, a bullish sign. The range at this moment is $500 to $523, a level it almost touched earlier this morning. Historically September is a strong period for this stock so a hold of gains here would be positive. LEN - Big test on this stock between $51.50 and $51.75. A close above this level would be bullish. Mid Cap Watch List NUVA - Stock is back above its 20 day moving average and a close above $52.40 would be bullish. Small Cap Watch List KFY - Big level on this stock will be between $34 and $34.40. RUBI - Stock not recovering as well as we would like which seems to be the case in the software sector. We will maintain our stop at a close below $13.86. 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