EB Watch List Update Report

Dear Members: First, please mark your calendars for next Monday, April 9, when Tom Bowley of StockCharts.com will join me for our Quarterly Earnings webinar, exclusive for EarningsBeats members. More details later in the week. Market Update: Things are better today than yesterday but that didn't take much considering the pounding the market took. The S&P tried to capture its 200 day moving average that now stands at 2590 but right now is back below that key level. If someone asked me if the market is out of the woods yet I would say absolutely not. Even today traders are hesitant to buy on the pullback in fear that the gains won't last. In fact we've already seen today selling on the move higher. The VIX is down by 6% but still above all key technical levels showing that traders remain on edge. In some ways its simple here; the S&P needs to remain above the 200 day for the bulls to stop the bleeding, otherwise the market could easily resume its march lower. And in fact as painful as it might be in the near term more selling to make stocks even more attractive is what it might take to get traders off of the sidelines. The level that could do the trick is the February 9 low of 2532 so we'll have to see if it gets there. Companies reporting earnings Today (April 3) Before Market Opens: None After Market Closes: PLAY Companies reporting earnings tomorrow (April 4) Before Market Opens: AYI, KMX and LEN After Market Closes: FC ADDITIONS TO WATCH LIST BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List ADSK - Stock is barely higher after making nice move higher earlier in the session. A close back above the 20 day moving average, currently at $127.65 would be very bullish. None Mid Cap Watch List IGT - Stock is up slightly and a $26.48 would be bullish. Small Cap Watch List CHS - Stock is higher by 1.7% as it continues to consolidate.Still needs to close back above its 50 day, currently at $9.22 if it hopes to make further progress. Also as a reminder our stop is any close below the 20 day, currently at $8.96 and if it closes below that level it will be removed from the Watch List. Deletions from Watch List None At your service, John Hopkins EarningsBeats