EB Watch List Update Report

Dear Members: MARKET NOTE: It's hard to argue with the bulls these days, especially if you are long in tech stocks. In fact the NASDAQ hit a new all time high today. My observation is that the recent move higher in the NASDAQ has been driven mostly by large cap stocks; stocks like Amazon, Facebook, Google. On the other hand, the S&P has gone nowhere. Ditto on the Dow. And the interesting thing is now that the NASDAQ has hit an all time high there's no history to tell us where it might be heading next. What we do know is it hit 5287 today so that now becomes resistance. So perhaps a new target for the bulls will be 5300; makes some sense. But what about the S&P? It's sitting close to the same level it was at in late July. So it has gone nowhere for six weeks. What is it waiting for?? Earnings season is now well behind us. The Fed appears to be on hold, at least for September. We're in an historically lousy time of the year. What do the bulls have going for them? The ever continuing search for assets that can produce yield. And thus investors appear to be turning to stocks. Or, in the case of the S&P, at least holding on to their stocks. I'm sure many of you have noticed that I've gotten cautious lately. We're a service that provides two main services; my daily market update - zeroing in on the macro picture - and possible trading candidates on those companies that beat earnings and are added to our Candidate Tracker. Some of those stocks become trading alerts to our members. I've been reluctant to issue many alerts because it still seems to me that the reward to risk - downside to upside potential - is to the downside. I suppose the market could really take off. But look at the S&P - it represents 500 companies - and its stuck. So - for those of you who like to take additional risk, there are 100 new stocks now in the Candidate tracker for you to review and decide if you want to put on a trade. But I'm going to continue to err on the side of caution for the moment with the goal of putting us in position to get stocks cheaper than at the current lofty levels. KEY EARNINGS REPORTS Companies reporting earnings today (September 7) include: HPE Companies reporting earnings Tuesday (September 8) include: BKS, DCI, KFY, RH, 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