EB Watch List Update Report

Dear Members: Market Update: Volatility continues to rule the day with the market trying to make its mind up as to whether or not the recent selling was enough to satisfy the bears or not. Though the major indexes are lower its not by much in the recent scheme of things with the VIX up slightly after moving higher earlier in the session. The VIX has played an out-sized role of late; it's something traders are keeping a keen eye on these days as the VIX remaining in the mid to upper 20's has caught their attention. The VIX touched 24.41 last Thursday and 24.42 yesterday so this is a level I'm keeping an eye on as it has now become support. If it moves below that level it might give the bulls something to work with in the near term. So far the S&P has behaved the way it needs to after touching it's 200 day on the big wave of selling last week. Now it needs to clear yesterday's high of 2672 which would likely indicate there could be some more upside. It wouldn't be so bad if the market simply consolidated here; we've had enough big swings the past week to last us a while. If the selling picks up later today we'll need to watch 2622 on the S&P which represents yesterday's low. So that's our range for the moment; 2672 to the upside and 2622 to the downside. Whichever one goes first is likely to determine the near term direction of the market. Companies reporting earnings Today (February 13) Before Market Opens ARCH, APRN, MLM, PEP, RDCM, SINA, TRU and UA After Market Closes: BIDU, FRT, KMPR, LSCC, MET, NTWK, OXY, and WU Companies reporting earnings Monday (February 14) Before Market Opens: ACCO, CS, DPS, FNMA, FLIR, GRPN, HLT, TAP, TEX and WYN After Market Closes: A, AMAT, ABX, CSCO, GG, H, JMP, MRO, MAR, NTAP, PKR, TRIP and WMB ADDITIONS TO WATCH LIST Please note that we have updated the Candidate Tracker and added over 150 stocks. We will be sending the ChartList to those of you on the list later today. We added SNAP and VAR to the Watch List this morning with more information below. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List AXP - We issued a profit alert on this stock yesterday when it was up almost 7% in one day so it has come off the Watch List. GREAT TRADE! IBM - Stock is down slightly and a close above $151.40 would be bullish. SNAP - Stock was added this morning to the Watch List at an entry price of $18.49 with a price target of $20 and a stop of any INTRA DAY move below $18. A close above $19 would be bullish. VAR - Stock was added this morning to the Watch List at an entry price of $116.40 with a price target of $124.75 and a stop of any INTRA DAY move below $114.85. A close above $116.70 would be bullish. Mid Cap Watch List None Small Cap Watch List None AXP has come off the Watch List. None At your service, John Hopkins EarningsBeats