EB Watch List Update Report

MARKET NOTE: It's Monday, it's the beginning of a new trading month and so far stocks are off to a mixed start with all only the NASDAQ higher. In what shouldn't be surprising, the blue chip heavy Dow is the weakest of the lot while the tech heavy NASDAQ continues to show the most strength. It's been like this for some time now with the S&P landing somewhere in the middle of the pack. Energy is weighing on the market with the sector down over 1%. And bond yields continue their march lower with the ten year treasury note now at 2.16%, it's lowest level in two months with traders very mindful of the monthly jobs report that will be released on Friday. The VIX is up this morning by over 2% but still remains below all key technical levels so certainly no panic on today's selling. So we could be seeing some good old fashioned profit taking now that the second quarter is history with the bulls hoping to at least hold the S&P over 2100 by day's end. KEY EARNINGS REPORTS Companies reporting earnings today (August 3) include: ALL, AIG, CLX, CNA, GGP, HSBA.L, L and TSN, Companies reporting earnings tomorrow (August 4) include: AET, ADM, CERN, CHTR, COH, CVS, DVN, FSLR, H, JCOM, K, MGM, MOS, PH, S, TRMB, DIS and Z BLOGS: With a new trading month here it is a good time to check out Tom Bowley's blog, if you haven't already had the chance, that focuses on August historical performance. You can find Tom's blog on the site under the Member section of our site. CANDIDATE TRACKER We have added over 30 new stocks to the Candidate Tracker and you can now see EPS and Revenue actuals and estimates for each stock on the Candidate Tracker Report page; makes for easier viewing and a nice snapshot. This is a change from where we used to show the EPS and Revenue data on the chart. You will sill be able to click on a link that will take you to a StockCharts.com chart. We will continue to add stocks as earnings season progresses with some of them turning into Watch List stocks. Remember that when we add a stock to the Candidate Tracker it has reported earnings fairly recently and we like to first watch the initial market reaction and any subsequent pullbacks that help increase the reward to risk ratio. ADDITIONS TO WATCH LISTS: We are adding Korn Ferry (KFY) to our Small Cap Watch List at current price of $33.27 and a second entry at $32. Other details, including price 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 C - Stock saw early weakness, but has since recovered with a slight gain. COTY - Stock is flat today as it continues to consolidate just above gap support. LEN - down on light volume, but current weakness could be printing inverse right shoulder in bullish inverse head & shoulders pattern. Mid Cap Watch List MW - testing gap support at $58.36 once again, volume remains fairly light Small Cap Watch List There are no Small Cap stocks on the Watch List at the moment DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock hits its stop loss. At your service, John Hopkins, EarningsBeats