EB Watch List Update Report

Dear Members: MARKET NOTE: The market continues to climb the worry in a big way with all of the major indexes down significantly. Once again the headlines pin the market's woes on oil which has dipped back below $30. It's not helping that economic reports have been on the weaker side of late after the Fed shifted its rate policy at the December meeting. But visions of further rate increases have been dashed as evidenced by the treasury notes with the ten year dipping down to 1.88% at its low of the session. That alone tells you the Fed won't be doing anything else anytime soon. As it pertains to stocks the S&P has so far held its August 24 flash crash low of 1867, but not by that much. Should that go then 1850 could come into play soon. Remember that all of this is happening with the market very oversold which is no consolation to those who are long but shouldn't be ignored. And remember also that earnings will start coming out in droves next week and when everything is said and done that investors care more about earnings than anything else that might be going on. Finally, though the early negative action makes a market rally feel impossible, any type of decent reversal by day's end would have to be seen as a positive. And remember that the market is closed on Monday for the MLK holiday so traders will have to make some decisions ahead of a long weekend. KEY EARNINGS REPORTS Companies reporting earnings today (January 14) include: BLK, C, FAST, PNC, RF, USB and WFC Companies reporting earnings Tuesday (January 19) include: AMD, BAC, SCHW, CMA, CREE, DAL, EBAY, IBM, MTB, MS, NFLX, SNV, AMTD, ULVR.l and UNH 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 down just over 1.5% and needs to hold $17.63 or could face further selling. Mid Cap 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 deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. I want to wish everyone a peaceful weekend and I will be back Tuesday morning with my EB Watch List Update Report. At your service, John Hopkins, EarningsBeats