EB Watch List Update Report

Dear Members: First, please note that I have added a Behavior Modification Case Study to my blog which you can find on the site. MARKET NOTE: So far today we've got good news and so-so news. The good news is that all of the major indexes are higher. The so-so news is that while the market is higher both the Dow and S&P are struggling to get back over their respective 20 day moving averages with only the NASDAQ slightly above its 20 day. So it could be worse but the bears reclaimed the upper hand with the selling we saw into the weekend. To put things in perspective here, the S&P remains over 100 points above the most recent low when the market cratered on August 24. But now we have to ask; what will excite traders to move the market higher? It's a legitimate question, especially with the Fed out of the way, very possibly for another three months. So it's going to take some sort of positive event, some good news from China perhaps, or some evidence that the economy is firming or evidence that earnings might come out better than expected. But earnings season won't start for another three weeks and the next really big economic report - non-farm payrolls for September - won't be out until October 2. The S&P got as low as 1953 on Friday and as high as 2040 on Thursday so that is now the near term trading range. For the bulls, a close back above 1977, the 20 day moving average, could support the notion that the worst of the selling is over. KEY EARNINGS REPORTS Companies reporting earnings today (September 21) include: Len and RHAT Companies reporting earnings tomorrow (September 22) include: AZO, KMX, CCL, CAG, DRI and GIS ADDITIONS TO WATCH LISTS: FYI, the beginning of this week is historically a very weak period for stocks. We are going to hold off adding any new stocks to our Watch List today and see if the market can hold early gains here and see if the S&P can close back above its 20 day moving average, at a minimum. There will be plenty of opportunities when the market firms up. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List AMZN - Stock continues to show leadership qualities as it hits its highest level since breaking out on its earnings report on July 24. Stock is currently up over 13% since it was added to our Watch List so we are raising out stop to a close below $539 to help insure we lock in profits. LEN - PLEASE NOTE: LEN reported its earnings this morning so we took it off our Watch List on Friday. Mid Cap Watch List NUVA - Stock remains strong and a close above $55.23 would be bullish. Small Cap Watch List RUBI - Stock has perked up and a close above its 50 day moving average, now at $15.43, would be bullish. DVAX - Our latest addition is up 1.5% today and a close above $31.68 would be bullish. 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