EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: AZO, BBY, DKS, SINA Wednesday: HRB, PETM, MARKET NOTE: I mentioned some reward to risk issues on the NASDAQ yesterday; it had become technically overbought, it hit a key level at 5000. Now today we're seeing selling on all of the major indexes. So far there has been no technical damage and as long as the S&P holds 2089 the bulls will keep the upper hand. We've got the Fed Beige Book coming out tomorrow then the monthly non-farm payroll report on Friday. Both are important and could impact the market. In fact bond yields are holding today with the ten year treasury note approaching 2.10%. Possibly some hedging ahead of these upcoming reports. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: BA - Bucking the trend today and up another 1.5% after it bounced yesterday as it neared its 20 day ema. ESRX - Stock is currently below our closing stop of 84.50. IF ESRX CLOSES BELOW $84.50 TODAY IT WILL BE REMOVED FROM THE WATCH LIST. In case you decide to remain in the stock, take note the 50 day moving average is at $84.08, a level that should provide some support. MCO - Stock is testing the top of gap support of 95.67 as well as its 50 day of 95.20. This might not be a bad first entry for those who held off when the stock was first added to the Watch List. RHT - Nearing its 20 day moving average of 68.18 where it should find some support. Mid Cap Watch List: INFN - Stock pulled exactly back to its 20 day moving average of 17.01 where it should find support. SYNA - Approaching its 20 day moving average for the first time since it made our Watch List. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions but if ESRX CLOSES BELOW $84.50 TODAY IT WILL BE REMOVED FROM THE WATCH LIST. At your service, John Hopkins Earnings Beats