EB Watch List Update Report

Dear Members: MARKET NOTE: Market volatility continues today with all of the major indexes struggling to hold gains after starting out on a negative note. The good news for the bulls is the recovery from yesterday's lows with the S&P at one point back above its 20 day moving average earlier in the session. But so far it has stalled with traders still of the mind that it makes sense to take profits on any rallies, a pattern the bulls know needs to be broken if they hope to make further progress to the upside. You can't blame oil for the early selling this morning; it's higher again today on hopes of some adjustment of supply from oil producers. The VIX is flat, showing at least less fear today than we saw yesterday on a spike close to 28. Bond yields are down slightly again but the ten year treasury note is off yesterday's low near 1.79%, a level not seen for a full year, as traders continue to seek safety. At the moment the bulls don't want to see the S&P back in the 1800's; been there, done that. But they won't be able to take prices higher without first clearing 1939, the most recent high close. Could be the market will stall today while waiting for tomorrow's monthly non-farm payroll report. Then the big question will be; which would be better received, a weaker or better than expected number, with traders knowing the Fed is scrutinizing every report as they consider future rate increases. KEY EARNINGS REPORTS 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 Companies reporting earnings tomorrow (February) include: CME, MCO, TSN and WY ADDITIONS TO WATCH LISTS: Earnings season kicked into high gear this week so we will soon be scanning for new additions to our Candidate Tracker and will notify members once it is updated. No new additions to the Watch List today 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 ADTN - We added ADTRAN, Inc. (ADTN) to our Watch List yesterday at a price of $18.11 with a price target of $19.30 and issued a profit alert this morning when the stock touched $19.11 so it will be coming off the Watch List. If you continue to hold you might want to raise your stop loss to lock in profits in case it gives up early gains. STMP - Stock continues to consolidate as it is having some trouble making progress to the upside. As a reminder there is a stop loss in place of a close below $91. DELETIONS FROM OUR WATCH LISTS: We are removing ADTN from our Watch list on a quick profit of 5.5% GREAT TRADE! 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