EB Watch List Update Report

Dear Members: MARKET NOTE: So, what's the culprit responsible for today's selling? Is it low oil prices? Low interest rates? Better than expected jobs numbers? Strong earnings from some market leaders? Cheaper stock prices? Cheap money? Let's throw in China's woes for good measure. When thinking about all of of these "possible" culprits it seems strange that the market is lower, doesn't it? Yet all of the things that one might think would be seen as quite positive are completely being ignored; at the moment, at least. There's no denying that some of the economic reports of late have been weak, just like today's ISM index. And it's not helping that a very important sector like financials has been at the forefront of leading the market lower. But, at some point the market will collectively come to the determination that all of those things that might actually be positive to consumers and the economy do matter, and that will be when the selling stops. The question is, are we close to that level now? I think we might be, at least on a short term basis. In fact, the S&P touched levels seen in two recent successive sessions; January 27 and January 28. And it has held well above the most recent low of 1812. Now we need to see some strength into the afternoon; renewed selling will favor the bears. KEY EARNINGS REPORTS Companies reporting earnings today (February 3) include: . ALXN, ALL, ADP, BWLD, CBOE, EXC, GM, GSK.l, GPRO, IP, JLL, LNC, MAN, MRK, MET and YUM Companies reporting earnings Monday (February 4) include: BZH, BSX, CSL, CHTR, CI, CLX, COP, CMI, DLPH, DNKN, ICE, KMPR, LVLT, LNKD, LGF, MSG, NTGR, NYT, NWSA, OXY, PENN, PM,PJC, RL, RGLD, SYMC and TDY ADDITIONS TO WATCH LISTS: As a reminder, we have updated the Candidate Tracker, removing some of the older stocks and adding some new ones. We will have more to add during the week and as more companies report their numbers. We will hold off adding any new additions until things settle down a bit. We are adding the following stock to the Watch List ADTRAN, Inc. (ADTN) at current price (as of this email) of $18.11 with a price target of $19.30 and a stop of a close below $17.50. 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 STMP - Stock is close to original entry price and as a reminder we changed out stop to a close below $91. 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