EB Watch List Update Report

Dear Members: MARKET NOTE: The bulls managed to hold the 50 day moving average on the selling yesterday as the S&P touched 1990 and buyers decided to buy on the dip with all of the major indexes higher today. This move higher today in spite of very weak manufacturing reports and some negative responses to some key earnings reports including WMT which was down double digits yesterday after painting a gloomy picture. It does go to show that at the moment traders are focused on the bigger picture rather than individual earnings reports but also shows that if you miss expectations there is a price to be paid. The bulls will now look to retest the most recent high of 2020 on the S&P and to the downside, 1990, yesterday's low, is now support. KEY EARNINGS REPORTS We've heard from some big names already with many more to come over the next few weeks. So far response has been mixed though the market has so far held up well in spite of negative responses to some big names. Companies reporting earnings today (October 15) include: AMD, BBT, BX, SHW, C, GS, KEY, MTB, MAT, MTG, PM, PPG, SLB, USB, UNH and WYNN Companies reporting earnings tomorrow (October 16) include: CMA, GE, HON, KSU, PGR, STI,SYF and GWW ADDITIONS TO WATCH LISTS: We are going to remain patient here as the earnings season progresses and look to provide members with high reward to risk trading candidates over the next few weeks. 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 is closing in on its 20 day moving average of $12.06 which needs to hold. 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