EB Watch List Update Report

Dear Members: Market Update Does anyone really trust the market now? It sure doesn't seem so, even with all of the major indexes higher after yesterday's roller coaster ride. We're in the type of market right now where gains can evaporate in a minute even with many stocks oversold. It's clearly a shoot first and ask questions later environment. You can see the VIX is flat even though all of the major indexes are higher, another sign of hesitation to get involved on the long side. I still contend that there are some nice opportunities here but a tight leash is required. That can make things frustrating, witness TTD, a stock added to the Watch List yesterday which hit both of our entry prices but stopped out earlier today and has resumed its move higher. Of course that could completely change by day's end and this is why tight stops are still in order, at least until there are signs that a near term bottom is actually in. Tonight after the bell Facebook will report its earnings. This is a biggie for the market with the stock and other FANG stocks getting hammered lately. Will FB disappoint or surprise the market with better than expected earnings? We're going to find out later today and the market reaction could impact where stocks are headed in the short term. The S&P did put in a new near term bottom yesterday of 2603 so that is now new support. To the upside there's a long way to go for the bulls to have any shot at regaining the momentum starting with having to clear the 200 day moving average, currently at 2765. That seems miles away at the moment, especially given the type of volatility we've seen of late where selling can pick up out of nowhere. So perhaps a first step will be to see if the market can actually strengthen into the close. Companies reporting earnings today (October 30) Before Market Opens: AET, AGN, AMT, AMRC, AN, BHGE, BP, KO, CTSH, CRVL, CMI, ETN, FCAU, FLIR, FDP, GE, HCA, HMC, HUN, I, KRB, LL, MAS, MA, BTU, PFE, SSTK, SNE, SHOO, UAA, and WH After Market Closes AMGN, APC, BIDU, BXP, CAKE, TCS, RRD, EBAY, EIX, EXAS, FB, FEYE, HLF, H, MXIM, MGM, NBR, NCR, NTRI, OI, PAYC, PSA, SFLY, SYX, TMUS and YUMC Companies reporting earnings tomorrow (October 31) Before Market Opens: AC, ANTM, ADP, BAX, CG, CHK, CVEO, CLX, DX, EL, GRMN, GM, GNC, HES, ICE, IGT, K, TAP, OMI, RDN, SC, SPAR, S, UTHR, WD and YUM After Market Closes: ALG, ALL, AIG, APA, CF, CHDN, ESRX, STAY, FRT, FISV, FIT, FORM, RYN, RGLD, SU and WMB ADDITIONS TO WATCH We added AVAV to the Watch List yesterday with a very tight stop and it did stop out so is being removed from the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List TTD - Stock hit both entry levels yesterday and hit our stop today so is being removed from the Watch List. WSM - Stock is having a strong day today up almost 5% as it attempts to move back above its 20 day moving average, currently at $59.65, for the first time since mid September. If it can close above that level it would be bullish. Small Cap Watch List QNST - Stock is higher by 1.5% as it challenges its 20 day moving average for the second day in a row. A close above $13.60 would be bullish. Deletions from Watch List AVAV and TTD At your service, John Hopkins EarningsBeats