EB Watch List Update Report

Dear Members: Market Update: I was looking at the latest CBOE options chain which shows the number of puts/calls expiring this Friday and noticed quite a few calls on both the SPY and QQQ's just above the levels at which they are currently trading. This could be an indication that the market will be in consolidation mode the next few days as market makers never like to pay premiums on large batches of options if they can avoid. This doesn't mean the market can't go higher here but it might mean the price action will be contained for a few days. The bulls should be feeling good having set a record high on the NASDAQ yesterday and with the S&P touching levels not seen since early February. Toss in the Dow back over 25k and overall the market is looking pretty good. We'll continue to get earnings from some highly visible companies including IBM after the bell today and then Microsoft after the bell tomorrow and by the time we get to next week we'll be hearing from some key tech giants. The VIX continues to show traders are confident these days as it dipped back into the 11's earlier in the session and remains below all key technical levels. Clearly all eyes are on earnings and will continue to be so the next few weeks. And if the majority of companies are able to post better than expected numbers the market should remain in good shape. Companies reporting earnings Today (July 18) Before Market Opens: ABT, ERIC, GWW, MTB, MTG, MS, NTRS, NVS, TXT and USB After Market Closes: AA, AXP, EBAY, IBM, KMI and URI Companies reporting earnings tomorrow (July 19) Before Market Opens: BK, BBT, BX, DHR, DPZ, DOV, FITB, GPC, KEY, NUE, PM, PPG, SAP, SNA, SON, SYNT, TSM, TRV, UN, UNP and VLVLY After Market Closes: COF, ETFC, ISRG, MSFT, SKX and SWKS ADDITIONS TO WATCH LIST We added PLAY to the Watch List yesterday with additional details below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List EXPD - Stock is higher by 1% as it bumps up against its 20 day moving average. Would like to see it maintain its gains and pick up steam with the next key level of resistance right around $74. M - Stock is up slightly after hitting a higher near term high earlier in the session before pulling back some. Would like to see it close above $37.50 which would be bullish. Mid Cap Watch List None Small Cap Watch List PLAY - Stock was added to the Watch List yesterday with an initial entry price of $48.04 with a second entry on any pullback to $47 and with a price target of $53 and a stop of any CLOSE below the 50 day moving average. It was hot this morning before cooling off some and would like to see it strengthen as the day progresses. A close above $49.71 (a level it exceeded earlier today) would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats