EB Watch List Update Report

Dear Members: MARKET NOTE The bulls have had a few whacks at 2000 the past two trading days and once again we can see that it's a tough level to penetrate. At the same time the selling this morning has been mostly contained with the S&P so far holding support in the 1975-1980 range. Oil is lower today after a nice run to the upside and certainly well above what many traders feel is a key level to hold near $30. Once again traders need to keep things in perspective here. It's been pretty straight up since the S&P bottomed at 1810 in early February, so a pause is actually quite healthy. The bears would like to see the selling deepen but traders seem to be in a buying mood lately which is keeping the S&P well above its 20 day moving average at 1950. Meanwhile, should the bulls succeed in clearing 2000 then the 200 day moving average, now at 2022, could come into play. So at this exact moment in time the S&P is pretty much in the middle of a range of 1950 to the downside and 2022 to the upside, making it a bit tricky to take positions either on the long or short side. Said another way, a better reward to risk on the long side on the S&P would be closer to 1950 and a better reward to risk on the short side would be closer to 2022. In other words, it's a toss up right now which calls for patience. KEY EARNINGS REPORTS Companies reporting earnings today (March 8) include: DKS Companies reporting earnings tomorrow (March 9) include: KFY ADDITIONS TO WATCH LISTS: Will hold off on adding any new trading candidates until we move out of the middle of the current trading range. We are looking to add some fresh trading candidates on the long and short side to our Candidate Tracker sometime soon. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List SHORTS: ROP - Stock is lower by 1.5% today. A close below $167.93 could take this stock lower. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. 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. John Hopkins, EarningsBeats