EB Watch List Update Report

Dear Members: MARKET NOTE: The market is trying to show gains for three sessions in a row, not so easy these days. All of the major indexes are substantially higher with the shorts running for cover and as oil bulls continue to make their case that oil has bottomed. All of the major indexes have made progress today; they are all back above their respective 20 day moving averages. That's one important step for the bulls. The VIX is down almost 5% as it has moved back below its 20 day. So a bit of changing of the guard which at the moment favors the bulls. But many traders remain skeptical here; why shouldn't they? A lot of profits were lost and a lot of losses incurred since the beginning of the year and those wounds are fresh. But if you stop and think about it the 100+ point gain on the S&P since the most recent bottom only puts the S&P back where it was in early January, so no real progress. Still, this relief is most welcomed by the bulls. Now the questions are: 1-Can today's gains hold? 2-How high might the market go? We won't know the answer to question 1 until 4:00 PM eastern today when the market closes. As far as question 2 we saw the S&P get as high as 1947 after it bounced from the prior low of 1812. So that is the next target for the bulls and a level where traders will look seriously at shorting the market. To the downside the bulls would like to hold 1900 which is a level just above the 20 day moving average on the S&P. KEY EARNINGS REPORTS Companies reporting earnings today (February 17) ADI, ABX.TO, DPS, GRM, GDDY, HST, JACK, MRO, MAR, MORN, NTAP, NEM, NVDA, PCLN, PGR, SPWR, SNPS, TMUS and WMB Companies reporting earnings tomorrow (February 18) include: AMAT, SAM, CAB, LNG, CHH, CUBE, DISCA, DISH, DUK, EQIX, FLR, H, MGM, JWN, SIX, HOT, TTC WMT, WM and YRI.TO ADDITIONS TO WATCH LISTS: The market has made a very nice move off the most recent bottom and we've had a few nice winners. Now we are closing in on important resistance so let's see if we get there. If we do we might look at a few shorts or wait for a pullback for long opportunities. 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 RMD - Stock came within two cents of touching its January 22 high of $59.68 before pulling back. Needs to clear that level to have a shot at moving higher. 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. At your service, John Hopkins, EarningsBeats