EB Watch List Update Report

Dear Members: MARKET NOTE: Lately traders have been waiting for any pullbacks to jump in on stocks. This is particularly true for tech stocks that is coming off of an all time high. What this does is give the market a feel of invincibility; that it can never pull back hard as buyers will be ready to swoop in when prices are lower. It's hard to argue with this strategy; it's been going on for a while now. And in fact it may be true that the lack of yield in most assets makes stocks more attractive. The S&P isn't going anywhere - up or down - which also could be an indication that investors expect a move to the upside, rather than to the downside. And they just might be right. Still, the market seems to have gotten ahead of itself and at some point the bids could dry up. If that does happen it won't be great to be overloaded on the long side. Right now the S&P remains in a trading range of 2160 to the downside and 2193 to the upside. So far today its holding its 20 day moving average, now at 2177. So traders seem content to hold on to their positions, even if they aren't adding. Tough to fight the tape here; it's been powerful. At the same time we at least need to keep some capital available in case one of these pullbacks does stick. KEY EARNINGS REPORTS Companies reporting earnings today (September 8) include: BKS, DCI, KFY, RH Companies reporting earnings Tuesday (September 9) include: KR ADDITIONS TO WATCH LISTS: I'm going to scan our existing Candidate Tracker to see if any stocks stand out as high reward to risk trading opportunities with the theory being even if we get a pullback those companies that beat earnings should hold up better than most. Will let you know via email. 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