EB Watch List Update Report

Dear Members: MARKET NOTE: Today's wicked start to the new trading year is not what the bulls were looking for. Little did they know that overseas markets would start the year off on a very negative note as well, especially in China with trading halted on the Shanghai which is never a good sign. Adding to the market woes is the escalating conflict between Saudia Arabia and Iran. And, making it worse, oil had moved up nicely earlier in the session only to move into negative territory. Then of course we've got all of the major indexes down sharply, touching lows not seen since mid October. This has created plenty of fear with the VIX up over 20% though off the high of the session. All of this making for a rough start to the new year. If there's any good news to report it's that all of the major indexes are well above session lows. Now the question becomes, has a short term bottom been put in? It's possible but there may be some retesting to confirm. The S&P got as low as 1989 so that is a level that needs to hold. To the upside there's a whole lot of work to be done since a lot of technical damage has been done. For example, the 20 day moving average on the S&P is up near 2050. At present that seems a mile away but it was over that level on Friday. Still, the bulls have their work cut out for them is they have any hope of regaining the momentum which clearly lies with the bears. KEY EARNINGS REPORTS Companies reporting earnings today (January 4) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (January 5) include: There are no key earnings reports due out on Tuesday ADDITIONS TO WATCH LISTS: The selling today is ultimately going to present some very good buying opportunities. However we need to be patient here and see if the worst of the selling is over. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List BSX - Stock is down over 2.5% and needs to close back above $18.23. FB - Stock is down 3% and has hit our second entry level of $102. Mid Cap Watch List MPWR - Stock is down over 3%. As a reminder our second entry level is at $59.25. SBGI - Stock is down roughly 3%, slightly below our first entry level. Small Cap Watch List AMKR - Stock is down 1.8% today and has hit our second entry level of $5.95. CALD - Stock is getting hit hard today, down over 5% and has hit our second entry level of $18.30. However, please note that we have a closing stop of $18, so if it closes below that level it will be removed from the Watch List. 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