EB Watch List Update Report

Dear Members: Market Update: A bit of a mixed picture today with blue chip stocks lower even though the Dow hit another record high today. Can you say overbought? Yes indeed. Are traders concerned? Not much. But, the VIX is higher again today and remains well above all key technical levels so still at least one finger on the sell button, maybe. By now we all know the drill; any time there is a pullback traders are ready, willing and able to step in to buy stocks. But at what point might that end? It's hard to say because there hasn't been any evidence that is about to happen, witness yesterday's action just when analysts declared the bull run was over. So for the moment traders seem to be willing to continue to roll the dice and maybe that will be the case as we get deeper into earnings season with most of the numbers so far being just fine. The range on the S&P right now is 2807 to the upside and 2768 to the downside and as long as that 2768 level holds the bulls will remain in charge. Companies Reporting earnings today (January 18) Before Market Opens BK, BBT, KEY, MTB, MTG, MS and TSM After Market Closes: AXP and IBM Companies reporting earnings tomorrow (January 19) Before Market Opens: KSU, SLB and STI After Market Closes: None Going to continue to watch the market closely and be very selective. BRIEF COMMENTS ON WATCH LIST STOCKS Will keep you posted on any new alerts. SHORTS: None at this time LONGS: Large Cap Watch List QSR - Stock is fairly flat but remains above its 20 day moving average. Still needs to close back above its 50 day moving average, currently at $62.81, which would be very bullish. Mid Cap Watch List NAV - Stock continues to struggle near its 20 day moving average, currently at $43.64 and if it CLOSES below the 20 day it will be removed from the Watch List. SAIC - Stock is down almost 1.5% today. This stock was added to the Watch List at an entry price of $76.59 and at this point is still above that level. But it's acting weak in a strong environment. Therefore we are RAISING OUR STOP to any CLOSE below the 20 day moving average, currently at $77.25. If it closes below the 20 day moving average it will be removed from the Watch List. Small Cap Watch List CLDR - We added CLDR to the Watch List yesterday and it made a strong move this morning towards its target of $19.40, up almost 7%, so a profit alert was issued. If you continue to hold you should consider raising your stop loss to make sure you lock in a profit. FINL - Stock is down slightly but remains above all key technical levels. A close back above $13.64 would be bullish. DELETIONS FROM THE WATCH LIST CLDR is being removed from the Watch List as a profit alert was issued. At your service, John Hopkins EarningsBeats