EB Watch List Update Report

Dear Members: Market Update In yesterday's Market Update I pointed out a risk possibility with the market in lofty territory; that an earnings miss by Google or Apple could put a damper on buying. Well, GOOGL had a revenue miss after the bell last night with the stock down 8.5% as it drags the tech sector along with it. For sure traders have been very forgiving lately but when a stock like GOOGL heads straight up for 4 months, traders are expecting beyond perfection, not an earnings miss. And though AAPL remains well off its all time high it's also been straight up for 4 months now so expectations remain high on that stock as well as it gets set to report its numbers after the bell. As usual we need to keep things in perspective here. A 100 point haircut on the NASDAQ is not what the bulls were hoping for but just yesterday both the NASDAQ and S&P hit record highs; sooner or later some profit taking was inevitable. Today might turn out to be a good test as the month of April comes to an end; will buyers step back in on this early selling or will we see the selling pick up into the close? Since the NASDAQ is leading the charge lower today it's worth looking at support which is at 8060, and if that goes, the 20 day moving average near 8000 could quickly come into play. Part of the equation could depend on AAPL's results and the response to its numbers after the bell; AAPL carries a lot of clout so we're going to find out soon enough. Companies reporting earnings today (April 30) Before Market Opens: BHGE, BP, CHTR, COP, GLW, CMI, ETN, FDC, GM, GE, HCA, IR,KKR, LLY, MLM, MA, MCD, MRK, MGP, NLSN, PFE, PSX, STX, SHOP, SPG, AOS, TNC, WH and ZBRA After Market Closes AMD. AKAM, AMGN, AAPL, BXP, CHRW, CB, DVN, EIX, EXAS, FICO, FEYE, FISV, FLEX, FORR, MXIM, MDLZ AND VRTX Companies reporting earnings tomorrow (May 1) Before Market Opens: AMRN, ADP, CG, CLX, CME, CVS, EL, GRMN, GSK, HRS, HLT, HUM, JCI, LLL, TAP.A, RCL, SO, UTHR, WYND AND YUM After Market Closes: ALL, APA, CAR, CZR, CREE, DLB, STAY, HIG, HST, H, LNC, MFC, MRO, MET, OI, PRU, PSA, QCOM, RYN, RGLD, SQ, SU, TRMB, WMB and ZNGA ADDITIONS TO WATCH LIST Will keep you posted on any new additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List PANW - Stock tried once again to clear $250 but so failed to do so. Still needs to close above $249.79 which would be very bullish. Mid Cap Watch List SAIC - Stock is going against the grain today, up over 1%. A close above $74.55 would be bullish. Small Cap Watch List VCYT - We adjusted our stop yesterday to any INTRA DAY move below $23 since the company is reporting its earnings after the bell tonight. It moved below that level earlier in the session so is being removed from the Watch List. Deletions from Watch List VCYT At your service, John Hopkins EarningsBeats