Realtime high-throughput sensing and detection enables the capture of rare events within sub-picosecond time scale, which makes it possible for scientists to uncover the mystery of ultrafast physical processes. Photonic time stretch is one of the most successful approaches that utilize the ultra-wide bandwidth of mode-locked laser for detecting ultrafast signal. Though powerful, it relies on supercontinuum mode-locked laser source, which is expensive and difficult to integrate. This greatly limits the application of this technology. Here we propose a novel Continuous Wave (CW) implementation of the photonic time stretch. Instead of a supercontinuum mode-locked laser, a wavelength division multiplexed (WDM) CW laser, pulsed by electro-optic (EO) modulation, is adopted as the laser source. This opens up the possibility for low-cost integrated time stretch systems. This new approach is validated via both simulation and experiment. Two scenarios for potential application are also described.