EB Watch List Update Report

Dear Members: First, please note that I will be conducting a webinar later today at 4:30 pm eastern and you are invited to attend. I will be discussing the overall market as we get ready to head into earnings season. I will also spend some time explaining some of the features of EarningsBeats.com, primarily for those new to EB but you might find this useful as well. We will be sending room instructions later this afternoon prior to the session MARKET NOTE: The market has shown some life since Friday when the weak jobs report put to rest the possibility of a Fed rate increase during October or even prior to year end. This gave the bulls something to work with, especially after the S&P had put in a double bottom, almost matching the August 24 flash crash low. The move higher of late has taken all of the major indexes back above their respective 20 day moving averages with the Dow trying to climb back above its 50 day with traders now attracted to blue chip stocks. So the bulls have at least cleared one key hurdle with traders looking to see if the gains can hold and specifically if the S&P can hold its 20 day on any pullback. Right now the 20 day on the S&P is at 1950 while the 50 day is at 1998. So these are the key levels to be watching at the moment. If the bulls can successfully hold here it could set up for a further move to the upside. At the same time, earnings season is about to begin so traders might choose to "wait and see" before jumping in full speed ahead. KEY EARNINGS REPORTS Companies reporting earnings today (October 6) include: PEP and YUM Companies reporting earnings Wednesday (October 7) include: AYI and MON ADDITIONS TO WATCH LISTS: First, please note that we will be updating our Candidate Tracker list later today. We will be taking off a lot of stocks that are currently on the list and are scheduled to report earnings over the next few weeks. At the same time, as more companies report over the next few weeks, we will be adding stocks that beat earnings expectations and have solid charts. We'll hold off adding any new stocks today with the the possibility of major resistance at the 50 day moving average on the S&P which is not that far away. Will revisit tomorrow and set our sights on the upcoming earnings season. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List There are no large cap stocks on the Watch List at this time Mid Cap Watch List There are no mid cap stocks on the Watch List at this time Small Cap Watch List VRA - Stock has come back to life of late and a close above $13.58 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