EB Watch List Update Report

Dear Members: First, as a reminder we will be conducting our Q4 webinar this afternoon at 4:30 pm eastern. As an existing member of EarningsBeats there is no need to register and you will receive room instructions prior to the event. The webinar will be recorded for those of you unable to attend the live event. Market Update The market got very oversold when it bottomed on December 24. Since then the move higher has been pretty non-stop with some overdue profit taking kicking in today. For sure the bulls are in much better shape than they had been when the market hit that recent bottom. In fact since that time all of the major indexes have climbed back above their respective 20 and 50 day moving averages as trader confidence has grown. At the same time all of the major indexes remain below their respective 200 day moving averages and well below their all time highs. So far earnings have been mixed but decent enough to keep the market from cratering. But we did see some disappointment in Netflix with the stock down another 3% today with traders wondering if other large cap tech stocks might follow suit. Also worth keeping an eye on is Apple, a stock that finally bounced off of its recent low but is now struggling to hold above it 20 day moving average. And it could be difficult for the market to make substantial progress if AAPL continues to struggle. The next two weeks are important as there are a lot of highly visible companies getting ready to report their numbers, including IBM after the bell tonight. The S&P got as high as 2675 last week so that is now resistance. To the downside we should keep an eye on 2625 which is right around the 20 day moving average. In the meantime no big hurry to do much at this time. Companies reporting earnings today (January 22) Before Market Opens: FITB, HAL, JNJ, MBFI, SWK, STLD and UBS After Market Closes COF, IBM, AMTD and ZION Companies reporting earnings tomorrow (January 23) Before Market Opens: ABT, CMCSA, KMB, PG, PGR and TDY After Market Closes: CTXS, FFIV, F, LRCX, LVS, RJF, SLM, TER, TXN, URI and XLNX ADDITIONS TO WATCH Will keep you posted on any further additions to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: ERF - Stock is lower by 6.5% as it has pulled back below all key technical levels. PLEASE NOTE: We are raising our stop to any INTRA DAY move above our blended price of $9.13. Any further weakness by the time the market closes could lead to even lower prices. 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