EB Watch List Update Report

Dear Members: MARKET NOTE: You can see why it is so tricky to get aggressively long or short these days. As I write this update the S&P is hugging its 20 day moving average as it keeps everyone in suspense. It's not moving higher but it's not moving lower either. Let's just call it "no-man's land" where you have an equal chance of going higher or lower here The upside potential gets you maybe 20 points and support is down about 25 point on the S&P. So we're in the middle. And when you try to trade aggressively in the middle of a range it can be both frustrating and costly. It could be that traders are waiting on Friday's non-farm payroll report which could have Fed implications. The results - just ahead of the Labor Day weekend - and just ahead of the historically roughest month of the year - could break the tie here. The VIX is flat today but it's still higher than it was a few weeks back when the all clear signal was in. So we've gone from a must buy on the dips to nibbling on the pullbacks while being ready to hit the sell button if necessary. The Dow seems to be the weakest of the major indexes as it has slipped below its 20 day moving average, at least intra day. The NASDAQ remains above its 20 day but not by much. So all of the major indexes technically hanging by a thread. Bottom line: Need to ride it out here and be patient knowing the range on the S&P is 2193 to the upside and 2150 to the downside. Let's see which one gives first. KEY EARNINGS REPORTS Companies reporting earnings today (August 30) include: ANF and HRB Companies reporting earnings tomorrow (August 31) include: CHS, FIVE and CRM ADDITIONS TO WATCH LISTS: Will let you know if are any new additions to the Watch List BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List There are no Mid Cap stocks on the Watch List at this time Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List DELETIONS FROM OUR WATCH LISTS: No deletions at this time At your service, John Hopkins EarningsBeats