EB Watch List Update Report

Dear Members: MARKET NOTE: First, please note that there is a new blog post from Tom Bowley where he reviews the S&P 500 for EarningsBeats.com members. You can find Tom's blog under the Member section of our site. Very timely and most definitely worth reading! The market is off to a strong start this morning with all of the major indexes up nicely. It comes at a good time, especially with the Dow already struggling and the S&P challenging its 200 day moving average, barely closing above it on Friday. The NASDAQ is back above its 50 day moving average and trying to climb back above its 20 day. So a lot of technical developments so far this morning that could help to determine near term direction of the market. The VIX is down over 7% this morning and even during the recent bout of selling traders remained fairly calm. So the bulls should be quite pleased so far this morning and a close back above 2096 on the S&P would put the market in a better position for further gains. KEY EARNINGS REPORTS The number of key companies reporting earnings for the past quarter is dwindling. However we will continue to keep you posted on those companies that have visibility as well as any others that we believe could be of interest to members: Companies reporting earnings today (August 10) include: AES and SYY Companies reporting earnings tomorrow (August 11) include: CSC, SYMC, ZBRA ADDITIONS TO WATCH LISTS: We are adding Rubicon Project Inc (RUBI) to our Small Cap Watch List with initial entry at current price of $15.87, a second entry at $15.40 and a third entry at $14.85 with a closing stop of $14.25 and a price target of $19.90. The chart and all information will be added under the Watch List section later 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 C - Stock up 1.25% as it continues to squeeze between support of $57.34 and short term resistance near $59. COTY - Volume been picking up lately. A close above the 50 day moving average, now at $28.57, would be bullish with the next key level of resistance at $30.06. LEN - Up over 2% after recent pullback. Is trading in a down channel that runs from $49.50 to $53. Volume has been light of late as it consolidates which is a good thing. STJ - First key test to the upside will be the falling 20 day moving average which is currently at $73.70. Mid Cap Watch List No Mid Cap stocks at the moment Small Cap Watch List KFY - Volume trying to pick up with the stock up over 2% today as it is trying to clear resistance in the $34-34.10 range. A close above that level would be bullish. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. At your service, John Hopkins, EarningsBeats