EB Watch List Update Report

Dear Members: Please note: We have updated our Candidate Tracker, removing those stocks we are no longer following and adding some new ones. Right now there are a total of 147 stocks on the Candidate Tracker, some that might end up on our Watch List. Feel free to check them out! MARKET NOTE: The market is so far looking much better than it did the past three trading sessions. All of the major indexes are higher though remain technically challenged. I pointed out to everyone recently that the 20 day moving averages on both the Dow and S&P are below their respective 50 day moving averages which I never like to see. So it's hard to say if what we are seeing today is simply an oversold bounce or if there's any staying power. I see there are a ton of puts and calls at a strike price of $210 on the SPY (underlying ETF for the S&P) which tells me the market makers would love to see the SPY close right around that level by Friday's options expiration. So perhaps a near term floor has been put in. However we've got to get through the FOMC rate announcement tomorrow to see if there's any change in tone which is highly unlikely. Key for the bulls on any renewed selling will be to hold 2072 on the S&P. In them meantime a move and close back above 2103 would be bullish. ADDITIONS TO WATCH LISTS: Note we are adding Microsoft (MSFT) to our Large Cap Watch List at current entry at $45.80 with a second entry at $44. All details including target and stop loss will be added to our site prior to tomorrow's open. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List CTRP - Stock is down 2.3% today. As a reminder our second entry is at gap support of $72. MKC - Stock climbing back above both its 50 and 20 day moving averages and a close above $77.48 would be bullish. VMW - Attempting to bounce off of its rising 20 day ema Mid Cap Watch List DLB - Nice recovery off the top of gap support and our second entry TILE - Breaking out on very heavy volume, up over 2.5%. A close above $22.94 would confirm the breakout. Small Cap Watch List CAMP - A close back above $20.00 would clear trend line resistance from April and May and would be bullish MMSI - Nice bounce off of its 50 day moving average yesterday. A close above $21.26 would be bullish. DELETIONS FROM OUR WATCH LISTS: There are no deletions unless a Watch List stock hits its stop loss. At your service, John Hopkins, Earnings Beats