EB Watch List Update Report

Dear Members: On the one hand you have to say the bulls are putting up a good fight lately with stocks retaining gains from the recent rally. On the other hand the bulls continue to have a difficult time cracking 2600 on the S&P and 7000 on the NASDAQ. It should be pointed out that big banks including Citigroup, JP Morgan and Wells Fargo reported their numbers yesterday/today and overall were weak but the market has mostly taken it in stride which favors the bulls. But the market was expecting bank earnings to be weak; traders are more focused on what big tech might do when they report with the first big test coming Thursday when Netflix reports its numbers. Interestingly NFLX announced this morning a price increase with the stock up sharply. But the question is; will a price increase be enough to keep the stock up if earnings are weak? We have seen lately that morning gaps - up and down - have not necessarily been the way the day has ended. So today could be quite interesting. Can the bulls build on the early gains or will we see profit taking as the day progresses? Of course we won't know until day's end but at the moment the market remains stuck at key levels of resistance. And until that changes we can expect more churning. Companies reporting earnings today (January 15) Before Market Opens: Dal, JPM, SNV, UNH and WFC After Market Closes PNFP and UAL Companies reporting earnings tomorrow (January 16) Before Market Opens: BAC, BK, BLK,CMA, GS, PNC and USB After Market Closes: AA, CSX and KMI ADDITIONS TO WATCH Will keep you posted on any further additions to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: ERF - Stock hit our second entry price of $13.20. A close back below its 50 day, moving average, currently at $8.91, might put some pressure on the long side and take the stock lower. LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats