EB Watch List Update Report

John Hopkins - May 04, 2018

Dear Members: Market Update: So far the tenth time has been a charm with all of the major indexes once again holding key technical support. We saw this yesterday as the S&P dipped below the 200 day moving average only to close above by day's end. And today? The S&P got as low as 2615, exactly to the 200 day, before bouncing nicely. Naturally this has the bulls feeling better but the bears continue to believe that sooner or later that 200 day will go. In any case, for the moment the bulls have done exactly what they needed to do, hold the line. The move higher today is being led by the tech heavy NASDAQ with AAPL up sharply on news that Warren Buffet continued to accumulate the stock during the first quarter, and whose to argue with the most successful investor in the world? Though we're seeing nice action today there will be plenty of traders who remain skeptical and who can blame them? A first step to getting more believers would be the market holding its gains into the close. AAPL's strength today could help make that possible. Another thing to watch for would be to see if the S&P can close back above its 20 day, currently at 2655. So this is now the new trading range; 2615 to the downside and 2655 to the upside. Companies reporting earnings Today (May 7) Before Market Opens: BCC, CBOE, CELG, LNG, ITT, NWL and STWD After Market Closes: None Companies reporting earnings Monday (May 7) Before Market Opens: CTSH, SSP, GCI, MYE, SYY and TSN After Market Closes: AMC, EVHC, HTZ, LMNX, MOS, NLS, RMBS, TESS, TRMB, VECO and ZG ADDITIONS TO WATCH LIST We will be updating the Candidate Tracker this weekend and are going to start including companies that miss earnings reports that could be short candidates. This could prove to be useful if the market continues to deteriorate. Will keep you posted. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List Deletions from Watch List None At your service, John Hopkins EarningsBeats