EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: HRB, PETM, Thursday: CIEN, COST, KR MARKET NOTE: We're getting some follow through selling today though all of the major indexes are off of their respective lows of the session. So far the S&P has perfectly held its 20 day moving average at 2090, just what I was looking for considering the recent strength in the market. The ADP jobs report that came out this morning disappointed while the ISM Services report beat expectations. Not quite a wash since so much attention is paid to the jobs picture. Now we'll be hearing from the Fed later today at 2:00 PM eastern when they release their Beige Book and I expect at least a knee jerk reaction. But with Friday's monthly non-farm payroll report due out Friday morning traders might hold off to see the results before making aggressive bets. ADDITIONS TO WATCH LISTS: WE ARE ADDING ONE STOCK TO OUR LARGE CAP WATCH LIST AS FOLLOWS: DATA - $6.5 billion market cap, initial entry at current price (92.48). More details later tonight on website to include 2nd entry (after we see how it closes), closing stop and target prices. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: ADBE - Stock was overbought and is getting some relief today HAR - Some selling today but remains above our initial entry MCO - Consolidation in progress after testing its 50 day moving average. Mid Cap Watch List: All of our mid cap Watch List stocks are higher today in a weak market. SYNA - Has bounced nicely off of its 20 day moving average. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. At your service, John Hopkins Earnings Beats