EB Watch List Update Report

Dear Members: MARKET NOTE: The market is up slightly today and for the bulls that is just fine. Short of a big follow through day, holding on to gains of late is the next best thing. The NASDAQ is back to showing leadership signs as it is now back above 5100 while both the Dow and S&P remain above all key technical levels as well. The fear that existed just last week is now gone with the VIX down another 3% today. So we've gone from one finger on the sell button to looking for opportunities on the long side. Part of the perk up in the market might be attributed to positive reactions so far to better than expected earnings reports, particularly from banks. In fact, financials are one of two sectors in positive territory today, along with health care. A strong showing in the financial sector along with a strong showing in tech stocks is a nice one-two combo for the bulls. And we'll get earnings from two tech heavyweights tonight, Intel and Netflix, so might pick up some fresh clues once those numbers are released after the bell. We're also getting testimony from Fed Chairwoman Janet Yellen today which might impact the market in some way but really the attention has turned almost exclusively to earnings at this particular moment in time. KEY EARNINGS REPORTS Companies reporting earnings today (July 15) include: BAC, BLK, DAL, INTC, NFLX, PNC, STX, USB Companies reporting earnings tomorrow (July 16) include: BBT, BX, SCHW, C, EBAY, GS, GOOG, KEY, MTB, MAT, PM, SLB, SHW, UNH EARNINGS CALENDAR Did you know that you can see the earnings date for all stocks on our Watch List by clicking on the Earnings Calendar link near the top of the Watch List page? We list the dates we are aware of for all of the stocks on our Watch List so members aren't surprised by an earnings report. Sometimes earnings dates will change and we try to catch that. If you are ever aware of a date that is different than what is showing on the calendar, please let us know. But you should always be aware when a company you own a stock on is reporting earnings because there can be very big swings once the numbers are released, and while big pops to the upside are always great to enjoy, the big moves to the downside can be painful. Our philosophy is to exit a position prior to an earnings release because its a 50-50 bet at best; not very good odds for your capital. ADDITIONS TO WATCH LISTS: We've been scanning our Candidate Tracker list and right at this moment nothing is standing out as being a high reward to risk trading candidate. That will begin to change as earnings season progresses. Also as an historical note, it turns out that July 17 to July 24 is the second worst historical week for the stock market. So we could be facing some headwinds over the next week though a better than expected showing in earnings might give the bulls something to work with. We're going to continue to be patient here, knowing that before too long, the reward to risk ratio will turn in our favor. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List INTU - Stock is higher today. Just so you know, $107.67 is closing resistance for those looking for quick profits, if it gets to that level. MSFT - Still challenging its downtrend resistance line RYAAY - Just a reminder that our closing stop was recently raised to $73. Reason being; stock had a negative divergence on its recent breakout so we want to be careful. Mid Cap Watch List RBA - Nice candle printed on Tuesday and we are looking for $27 to hold on a closing basis. Closing stop remains at $26.75 to just give it a bit of room if it goes against us. Small Cap Watch List No comments on small cap stocks today DELETIONS FROM OUR WATCH LISTS: here are no deletions from the Watch List today unless a Watch List stock hits its stop loss. At your service, John Hopkins, EarningsBeats