EB Watch List Update Report

Dear Members: MARKET NOTE: Blue chips are under pressure today thanks to missed earnings expectations by IBM and UTX. So far the selling has mostly been restricted to the Dow with the NASDAQ and S&P down just slightly. Even with the selling in the Dow the VIX hasn't moved much, showing traders remain willing to remain on the long side. Traders also remain locked in to earnings with some big name reporting after the bell tonight including AAPL, GPRO, MSFT and YHOO, to name a few. So we could see an impact on the overall market come the morning, depending on the response to the numbers. The S&P came within two points of its all time closing high yesterday so a close above 2130 would be bullish. In the meantime the NASDAQ has tacked on a lot of gains lately so some profit taking would certainly be understandable. It's still not technically overbought (but it's getting close) so there's still room to run to the upside. We should also keep in mind that historically we are in one of the roughest market weeks of the year so don't want to get overly aggressive here. KEY EARNINGS REPORTS Companies reporting earnings today (July 21) include: AAPL, BHI, BK, CMG, FITB, GPRO, HOG, ISRG, LMT, MSFT, AMTD, TRV, UTX, VZ, YHOO Companies reporting earnings tomorrow (July 22) include: ABT, ALTR, AXP, AMP, BA, CHKP, KO, DFS, EMC, EFX, FFIV, LVS, NTRS, QCOM, SNDK, STJ, TXN, TSCO, WHR and XLNX CANDIDATE TRACKER: We updated the Candidate Tracker yesterday so you will see 8 new stock symbols. We also removed some that we are no longer tracking. As earnings season matures we will be adding more stocks to the Candidate Tracker, some that will likely end up on our Watch List. ADDITIONS TO WATCH LISTS: There are no new additions 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 RYAAY - Will be removed if closes below our stop loss of $73 Mid Cap Watch List MW - Trading between its 20 and 50 day moving averages on light volume Small Cap Watch List EBIX - Will be removed if closed below our stop loss of $30 TILE - We like re-entry on this stock if it gets back to the $23 level MMSI - We are REMOVING MMSI from our Watch List at $22.21 as they report earnings on Thursday. GREAT TRADE! DELETIONS FROM OUR WATCH LISTS: MMSI is being removed a nice winner! RBA is being removed from our Watch List as it closed below our closing stop of $26.75 yesterday. There are no other deletions from the Watch List today unless a Watch List stock hits its stop loss. At your service, John Hopkins, EarningsBeats