EB Watch List Update Report

Dear Members: MARKET NOTE: The cautionary note we sounded earlier in the week has proven to work out the way we thought it would. All of the major indexes are lower today as traders continue to lay low here. All of the major indexes have pierced both their respective 20 and 200 day moving averages though the NASDAQ has moved back above its 200 day intra day. Nonetheless traders are searching for reasons to be long here. Oil continues to fall and we've seen some wicked declines in the retail sector with Nordstrom's the latest victim on its earnings report, down over 16%. This weak performance in the retail sector has traders spooked about the upcoming holiday season which is vital for the retail group. At this point there's a lot of technical repair work for the bulls to do if they wish to regain the momentum. Step one is for the S&P to close back above its 200 day moving average, now at 2064. But that is going to take some doing, given the current market mood. It is possible we'll see some bargain hunting here but traders remain worried about where the market will be by day's end. So while stocks are much cheaper today than they were even a few days ago the mood remains cautious. KEY EARNINGS REPORTS Companies reporting earnings today (November 13) include: JCP Companies reporting earnings Monday (November 16) include: A, and DDS ADDITIONS TO WATCH LISTS: We want to be careful to not get too aggressive here. We've only got a few active stocks on the Watch List and you can see they are all challenged, just like the overall market. But we are adding one stock to our Watch List. We are adding Citrix Systems (CTXS) to our large cap Watch List at the current price (as of email) of $77.39 with a second entry of $74.42 with a closing stop of $71.75 and a price target of $88. The chart along with the details will be added to the site later today. Naturally, further deterioration in the overall market could impact CTXS as well. But this stock had strong earnings and has pulled back nicely from its recent yearly high so we like the reward to risk here. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List FLEX - Stock has pulled back lately with the rest of the market and we would like to see it close back above its 50 day moving average of $11.07 by day's end. Mid Cap Watch List There are no mid cap stocks on the Watch List at this time Small Cap Watch List PLAY - Stock hit its second entry level today of $37. A close back above $38.77 would be bullish. SWHC - Stock is down again today and needs to close back above $17.95 to make further progress. 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. I want to wish everyone a restful weekend and I will be back Monday with my EB Watch List Update Report. At your service, John Hopkins, EarningsBeats