EB Watch List Update Report

Dear Members: MARKET NOTE: The major indexes are mostly flat to slightly lower as traders search for reasons to be long or short. We're in one of those weeks where there's not that much going on; no major economic reports, no major earnings, pretty quiet compared to last week when economic reports dominated the headlines. It fits right into my comment yesterday that we're in neutral territory; not many traders thinking about shorting but many traders reluctant to get too aggressive to the long side with the Dow having moved up non-stop and continued hesistation to load up on tech stocks. The VIX continues to move down, indicating fear is on the lower end of the spectrum. So it's not like traders are ready to abandon ship; they're just wondering what might it take to lift the market higher. While this week could be fairly quiet that is going to change next week when a slew of key economic reports are released, the Fed makes its interest rate announcement and options expire. So if traders are looking for fresh reasons to jump in or out of the market they might get some answers come next week. At this point we've got a clear picture of support and resistance levels on the S&P; 2214 to the upside and 2185 to the downside. Until one of those levels goes we'll be in consolidation mode. So it becomes even more important to be very selective when trading and holding on to some cash is not a bad idea. KEY EARNINGS REPORTS Companies reporting earnings today (December 6) include: AZO, BMO.TO, PLAY, MIK and TOL Companies reporting earnings tomorrow (December 7) include: COST, HRB, IDT, KFY, and LULU ADDITIONS TO WATCH LISTS: PLEASE NOTE: We have added over 100 stocks to our Candidate Tracker that are now available for members to review on our site. Some of these could become trading candidates in the future. We added CBI to our Watch List yesterday. More on the stock below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List ERJ - This stock continues to consolidate right at its 50 day moving average. As a reminder we have a second entry price of $19.15 on a further pullback. Small Cap Watch List CBI - Stock was added to our Watch List yesterday at initial entry price of $32.48 with second entry on a pullback to $31.90. Our initial price target is $34.27 and if it can clear that level then $36.35. It's higher today so far and a close above $33.51 would be bullish. None at this time DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats