EB Watch List Update Report

Dear Members: Market Update: A few things worth noting today. First, all of the major indexes are back above their respective 20 day moving averages, at least Intra Day, and are moving in sync. Next the VIX is lower by over 7% and back below both its 20 and 50 day moving averages as nerves have calmed some. Next, both Blackrock and Delta reported and beat earnings expectations this morning with both stocks higher as earnings season gets ready to kick into high gear. Next, the testimony of Facebook CEO Mark Zuckerberg before Congress is now over with the stock well off of its bottom, beating the alternative. As usual we need to take all of this with a grain of salt until we see how the market closes but at least the start of the day is encouraging. Tomorrow we'll get earnings reports from four major banks and the market's reaction to these reports could help set the tone for the next few weeks. We know expectations are high so there won't be much tolerance for disappointments. At this point we've got a new trading range on the S&P of 2655 (the 20 day) to the downside and 2693 (the 50 day) to the upside. We'll want to see if early gains do hold into the close which would give the bulls something to work with. Companies reporting earnings Today (April 12) Before Market Opens: BLK, DAL and RAD After Market Closes: None Companies reporting earnings tomorrow (April 13) Before Market Opens: C, INFY, JPM, PNC and WFC After Market Closes: None ADDITIONS TO WATCH LIST We added SGH and LEN to the Watch List this morning with additional information below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List LEN - We added this stock to the Watch List this morning at an entry price of $56.58 with a price target of $61 and a stop of any INTRA DAY move below $55.45. A close back above the 200 day moving average of $57.84 would be bullish. SNAP - Stock made a sharp move higher this morning before pulling back some. A close above the 20 day moving average at $15.43 would be bullish. SQ - We issued a profit alert on the stock this morning at a price of $49.31 as it neared our price target of $49.50 so it will come off the Watch List. GREAT TRADE! Mid Cap Watch List None Small Cap Watch List SGH - We added this stock to the Watch List this morning at an entry price of $45.30 with a VERY tight stop of any close below the 20 day moving average, currently at $45.18 with a price target of $51. Deletions from Watch List SQ At your service, John Hopkins EarningsBeats