EB Watch List Update Report

Dear Members: MARKET UPDATE Another positive start to the day with all of the major indexes higher. Overbought or not - believe me it is - the Dow has put in another all time high. However, stochastics are now 99 with an RSI closing in on 79. Perhaps this shows us that stocks and indexes can remain overbought for an extended period of time. We should also remember the Dow only represents 30 stocks. Still. The VIX continues to show a very complacent trader, back in the 9's; not much worry out there. The NASDAQ has moved back above 6400, a level it has not been above since it hit its all time high on July 27. And the S&P has also hit an all time high, so two of the three major indexes in record territory. The good news for the bulls is neither the NASDAQ nor the S&P is overbought. This is particularly true of the NASDAQ which has lagged. So there's room to run higher here if the appetite for stocks continues to be high. Bottom line for now; the bulls continue to have the upper hand here which must be respected. KEY EARNINGS REPORTS Companies reporting earnings today (August 8) include: Before Market Opens: AES, LNG, CVS, DF, DISCA, EXPD, IEP, IHG, KORS, NCLH, RL, TIME, VRX and W After Market Closes: DIS, GDDY, HTZ, MBI, PHH, PCLN, PRI, SUN, TARO, TSRO, TRIP and ZG Companies reporting earnings tomorrow (August 9) include: Before Market Opens: AVT, SNI, SINA, STWD, TRCO and WW After Market Closes: AGU, AMBC, KODK, MFC, NTES, ODP, RGLD, SLF, SYNC, FOX and WEN ADDITIONS TO WATCH LISTS: We added ECA to our Watch List this morning with more details below Also, please note we will be adding almost 90 stocks to the Candidate Tracker in the next day or two BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List GE - Stock is up almost 1% and a close above $25.79 would be bullish. MSFT - Stock is higher and a close above $73.04 would be bullish and put us a step closer to our price target of $73.40. ECA - We added this stock this morning at an entry price of $9.87, a price target of $10.70 and a stop of any close below $9.73. Mid Cap Watch List None at this time Small Cap Watch List DELETIONS FROM THE WATCH LIST SYNT is being removed from the Watch List as it closed below its stop yesterday None at this time At your service, John Hopkins EarningsBeats