EB Watch List Update Report

Dear Members: MARKET NOTE: Just a day after another drubbing and lower prices out of the chute this morning the market is trying to stage a rally where gains actually hold. At the moment all of the major indexes are off of their respective highs but the S&P has climbed back above 1900 and the NASDAQ has climbed back above 4500 after slipping below that level earlier in the session. So far oil is higher as well with some hoping that we've seen at least a short term bottom. But the recently adopted strategy of selling on any rally seems to remain in place as traders remain skeptical in spite of some decent earnings and guidance from both GM and JPM. There have also been a few Fed governors who have made statements the past few sessions that they may need to rethink the notion of raising rates any further, acknowledging some of the recent economic weakness. All of this leading to continuing uncertainty just before we start getting a slew of corporate earnings, including Intel after the bell tonight and then Citigroup and Wells Fargo tomorrow morning. One thing the bulls have going for them is a very technically oversold market, all the way around. So conditions are certainly ripe for a rally if traders decide in unison that the worst of the selling is over. The bulls would like to hold 1900 on the S&P on any selling with key support now at today's low of 1878. And we're going to need to see some leadership develop somewhere and so far today we are seeing that come from the beaten down energy sector. Bottom line is there's still a lot of work to be done to get the market back on track. If some of the gains can hold today it will allow traders to see more earnings results and then determine if stocks are worth buying. And remember this; the market has an incredibly bearish tone and sometimes when no on wants anything to do with stocks that becomes the time to get involved. KEY EARNINGS REPORTS Companies reporting earnings today (January 14) include: INTC, JPM Companies reporting earnings tomorrow (January 15) include: BLK, C, FAST, PNC, RF, USB and WFC ADDITIONS TO WATCH LISTS: Will continue to hold off on adding any new stocks to the Watch List. Over the next few weeks thousands of companies will be reporting their numbers which will allow us to load up our Candidate Tracker and look for fresh trading candidates that have strong earnings and strong charts and have held up the best during the recent market turmoil. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Only one stock remain on the Watch List. Large Cap Watch List BSX - Stock is up another 2% today and a close above $18.25 would be very bullish. Mid Cap Watch List SBGI - This stock closed below our stop loss of $29.50 yesterday so is being removed from our Watch List. Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. DELETIONS FROM OUR WATCH LISTS: There are no other deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. At your service, John Hopkins, EarningsBeats