EB Watch List Update Report

Dear Members: First, here is a link to Monday's Webinar on Q2 Earnings Season that I conducted with Tom Bowley. During the webinar Tom discusses a good number of potential trading candidates: https://www.earningsbeats.com/members/Q2-2018-Quarterly-Earnings-Update.cfm Market Update: I mentioned in yesterday's update that the market had gotten a bit ahead of itself and some selling would be a good thing. So today's selling works for me. The selling so far has been contained; all of the major indexes remain above all key technical levels. And the VIX is higher by 6% but well off the high of the day and below all key technical levels, so certainly not showing any major concerns. It seems reasonable at this point to assume traders are going to give the market the benefit of the doubt as earnings season is about to get under way. So it would be surprising to see a major pullback prior to Friday's earnings reports from four major banks. At the same time a lot of stocks are at levels that don't really provide the high reward to risk ratios I like to see on trade alerts. That could change if the selling did pick up. Remember as well that the S&P is a lot closer to major resistance than major support here, having gotten within 5 points of that important 2800 level yesterday before profit taking appropriately kicked in. So this is a good time to see what develops as the day progresses with maybe a nibble here and there while being very selective. Companies reporting earnings Today (July 11) Before Market Opens: FAST After Market Closes: NONE Companies reporting earnings tomorrow (July 12) Before Market Opens: DAL After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any additional trade alerts. Wouldn't mind seeing even more of a pullback before getting aggressive on the long side. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List EXPD - Stock has recovered nicely after moving lower earlier in the session. A close above the 20 day moving average, currently at $73.39, would be very bullish. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats