EB Watch List Update Report

Dear Members: MARKET UPDATE All of the major indexes are putting in new all time highs today with the blue chip Dow leading the way. The market continues its steady move higher after it looked like the bears might put a dent in prices yesterday. Only the bulls had other ideas. In fact we saw quite a spike in the VIX yesterday as it moved above all key technical levels and now today it is lower and back below all technical levels as the buying on any dips continues. While we've had some nice earnings beats this week we've also had some misses including General Electric and Proctor & Gamble, both down roughly 3%. So the market continues to look at each stock individually as it reports, rewarding those that beat/guide higher and punish those that miss the mark. That's really the way it's supposed to be. It goes without saying - though I will say it anyway - that the market continues to be overbought, particularly the Dow with stochastics still near 100 and a RSI now approaching 90. That is quite an overbought combo that will play out at some time but exactly when is another question all together. We'll continue on our path to let a lot of companies report over the next week or two, start adding a number of them to our Candidate Tracker, and hopefully have some solid trading candidates. In the meantime having some cash available for the time when the market actually does pull back won't be a bad thing. Companies reporting earnings today (October 20) Before Market Opens BHGE, GE, GNTX, HON, KSU, MAN, PG, SLB and STI After Market Closes: None Companies reporting earnings Monday (October 23) Before Market Opens: BOH, HAL, HAS, ITW, KMB, STX, After Market Closes: CR, OI, RMBS and ZION ADDITIONS TO WATCH LIST Going to keep an eye on all companies reporting with many of them being added to the Candidate Tracker when appropriate BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List CRM - Stock hit our price target this morning so will be removed from the Watch List. Great trade! Mid Cap Watch List None Small Cap Watch List None at this time DELETIONS FROM THE WATCH LIST CRM I want to wish everyone a restful weekend and I will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins EarningsBeats