EB Watch List Update Report

Dear Members: MARKET NOTE: The election has now come and gone. And what a wild ride it has been. Consider that last night the Dow futures were over 700. Now the Dow was up over 200 points at its high of the day. The VIX which showed extreme fear last week is now down 17% and at one point in the session was back below all key technical levels; so back to no fear. To me this is not a good picture. Instead I believe we're seeing a lot of short covering which has led to higher prices. And the S&P is back above all key technical levels as well which should be considered bullish. But at this point I am very interested in where the market closes. Interestingly the NASDAQ tested its 50 day and so far has failed. I also want to point out that the yield on the ten year treasury note is now back over 2%. One could argue that the market is relieved that the election is over, that the market has been held hostage to an almost untenable situation for too long. There's merit to that. On the other hand the wild swings from deep red futures last night to up shartly concerns me. I will say this; if the market gives us its gains later in the day that would be very bearish. I'm not saying this is what we're going to see but it's something we should at least watch for. On the other hand, if the bulls are able to hold onto the gains that would have to be respected. Bottom line: I feel like this is going to be a tricky market for a few days and it makes sense to be very cautious here. If the S&P falls back below its 50 day moving average near 2146 that could be a warning sign as well. KEY EARNINGS REPORTS Companies reporting earnings today (November 9) include: DISH, NTES, NCLH, SLW.TO, SCTY, SUN, TRCO and WEN Companies reporting earnings tomorrow (November 10) include: DIS ADDITIONS TO WATCH LISTS: Holding off doing anything at this point BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List PPYL - Stock is down almost 1.5% after being higher earlier. Needs to close back above its 20 day moving average, now at $41.21 to get back on track. Mid Cap Watch List MAN - Stock is higher and moved bak above $80 for the first time since October 24. A close back above would be very bullish. Small Cap Watch List HLX - Stock has moved back above its 20 day moving average and a close above $9 would be bullish. None at this time DELETIONS FROM OUR WATCH LISTS: None At your service, John Hopkins EarningsBeats