EB Watch List Update Report

Dear Members: MARKET NOTE: Today's market action can mostly be attributed to a quarterly phenomenon; Quad Witching Expiration. Quad Witching Expiration includes expiration of index futures, index options, stock options and stock options. This happens the third Friday of March, June, September and December and results in position covering and increased volatility. And it's coming right after the Fed rate decision and as traders try to figure out what this minor bump in rates might mean for stocks down the road. And the negative action today has resulted in all of the major indexes trading under all key technical levels, from the Blue Chip Dow to the small cap Russell 2000; nothing is being spared. And it's also coming during what has been historically the best time of the year. So it's putting a damper on the notion of a Santa Claus rally with traders wondering if they will see stocks rise into year end. One very small positive today is oil is slightly higher. That might not seem like much but it threatened to go lower earlier in the session so traders are watching to see if a near term low might be in. All of this combined has traders trying to figure out the best course of action. Certainly any reversal to the upside by day's end would portend for the potential of a rally next week and into year end while increased selling into the close could put a damper on those hopes. At a minimum the bulls want to hold the 2021 level on the S&P which is where it closed this past Monday as a close below that level could spell more trouble. KEY EARNINGS REPORTS Companies reporting earnings today (December 18) include: BB.TO, KMX, CCL, DRI and LEN Companies reporting earnings Monday (December 21) include: SCS ADDITIONS TO WATCH LISTS: No new additions today; too rocky at the moment BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List BSX - This stock is trying to hold its 20 day moving average at $18.37. FB - Stock is flat and a close above $107.77 would be very bullish. JNPR - Stock flat and needs to clear $29.46. Mid Cap Watch List COLM - Stock is bucking the trend and is up over 3.5% on nice volume. A close above $46.51 would be very bullish. EEFT - Stock failed to clear its 20 day moving average and is struggling today. We have a stop of $71.50 and if it closes below that level it will be removed from our Watch List. MPWR - Stock is flat as a pancake today but so far has successfully held its 50 day moving average which was tested this morning. A close back above $64.59 would put the stock in good shape. SBGI - Stock is down slightly and needs to close back above $32.17 which represents the 50 day moving average or possibly face further selling. Small Cap Watch List AMKR - Stock is down 2.5% and right on its 50 day moving average at $6.15. It needs to hold this level and if it doesn't could be heading to our second entry level of $5.95. 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 morning with my EB Watch List Update report. At your service, John Hopkins, EarningsBeats