EB Watch List Update Report

Dear Members: First, a reminder that I will be conducting a webinar today at 4:30 pm eastern where I will be discussing some potential long/short trading candidates on those stocks that have recently reported. There's no need for you to register for the event and you will receive room instructions prior to the start. The event will be recorded for those of you unable to attend the live event. Market Update: Something interesting catching my eye today as we begin a new trading day and week with the NASDAQ continuing its march higher. It has to do with the VIX which is at its lowest level and below all key technical levels since early October. On the one hand moving back below all key technical levels favors the bulls. On the other hand I notice the stochastics on the VIX are close to zero; they really can't get any lower than that. The RSI on the VIX is in the 30's, perhaps indicating that traders may have gotten over confident in the near term with almost no relief in stocks since the late December bottom. Traders will get another look at the performance of another tech giant when Alphabet'Google reports earnings after the bell. The stock itself has strengthened since its December low and has moved back above all key technical levels indicating traders are thinking earnings might be better than expected. If so that could help to keep the rally in tech stocks going. On the other hand any type of miss might put a dent in the tech sector which in turn could impact the overall market. It should be pointed out that the Dow is struggling right near that key 25,000 level which also happens to represent the 200 day moving average. And neither the NASDAQ nor the S&P has been able to regain its 200 day. Of course its been very difficult for the bears to gain any ground for six weeks now; most dips are getting bought up. This week is packed with earnings so still a lot for traders to digest. But once GOOGL/GOOG reports its numbers tonight the bulk of the very important large market cap tech stock earnings will be out of the way. In looking at the S&P the next KEY level of resistance will be at the 200 day, currently at 2741. Given the current market momentum it could certainly get there. To the downside, 2640 represents the 20 day, a level the bulls will certainly try to defend should it get there. Companies reporting earnings today (February 4) Before Market Opens: ALXN, CLX, JOUT, ON, SYY and UFI After Market Closes GOOGL, GOOG, GILD, LM, and STX Companies reporting earnings tomorrow (February 5) Before Market Opens: ADM, BP, EMR, LAZ, PBI, RL, VIA and WCG After Market Closes: ALL, APC, CERN, CB, TCS, DIS, OI, PAYC, SWKS, SNAP, SU, DATA and VRTX ADDITIONS TO WATCH LIST We expect to have the Candidate Tracker updated by sometime tomorrow and will also keep you posted on any additions to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: OLED - Stock is up slightly. Still needs to close back below its 200 day moving average, currently at $101.35 to put it in a position to move lower. We'll keep our stop in place of any close above $105.75 in case it does move higher. BRKS - Stock revisited its 200 day moving average before bouncing some. A close back below that level, currently at $30.45, could take the stock lower. As a reminder our stop is any CLOSE above $31.30. 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