EB Watch List Update Report

Dear Members: Market Update The bulls never give up easy and we're seeing once again a solid follow through day with all of the major indexes up nicely. Once again the bears were unable to register the knockout punch they had hoped for with buyers taking advantage of the recent sharp move lower. The move higher today has taken both the NASDAQ and S&P right up to their respective 20 day moving averages with traders wondering if this is where the rally will stall or will gains pick up as the day progresses. So the bears actually have a chance to show the recent selling was for real while the bulls have an opportunity to show that the recent pullback was nothing more than a timeout. With the move higher today the range on the S&P has widened with 2884 now resistance and the recent low of 2801 now support. If the bulls can hold on to the early gains the next level of resistance will be right near 2900. Companies reporting earnings today (May 16) Before Market Opens: WMT After Market Closes AMAT, BIDU and NVDA Companies reporting earnings tomorrow (May 17) Before Market Opens: DE After Market Closes: None ADDITIONS TO WATCH LIST We 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 MSFT - Stock is higher by 2.4%%. PLEASE NOTE: There are a large number of 130 calls expiring tomorrow which could make it more challenging for the stock into Friday's expiration. Therefore we are adjusting our price target to $129.70 which is within 1% of the original target of $131 and are adjusting our stop loss to any INTRA DAY move below $28. Mid Cap Watch List SAIC - We issued a profit alert on the stock today at $78.51 so it will be removed from the Watch List. Small Cap Watch List None Deletions from Watch List SAIC At your service, John Hopkins EarningsBeats