EB Watch List Update Report

Dear Members: MARKET NOTE The new week is off to a negative start with all of the major indexes lower. No particular reason stocks are lower except perhaps the S&P remains within easy striking range of key resistance so traders are locking in some profits. The fear meter (VIX) is up by 8% so some recognition that the market might have gotten a bit ahead of itself. But even with this move higher this morning the VIX remains well below all key technical levels, favoring the bulls. Traders have had some time to absorb Friday's non-farm payroll report which mostly beat expectations. Now the next economic event connect to the Fed and the issue of interest rates will be this Wednesday when minutes from the last FOMC meeting are released. Once we move through this week a new earnings season will begin when Alcoa reports its numbers on April 11. From that point forward the market will be looking at thousands of companies that will be reporting their numbers. In the meantime traders will be looking for any fresh news, unexpected developments, anything to help them make smart trading decisions. For now we can use Friday's low of 2043 as support on the S&P and 2081 the December 29 high as resistance. And since we are in an historically positive time of the year we'll have to give the bulls the edge until we see something that turns the momentum back in favor of the bears. KEY EARNINGS REPORTS Companies reporting earnings today (April 4) include: HBC.TO Companies reporting earnings tomorrow (April 5) include: DRI ADDITIONS TO WATCH LISTS: First, we are continuing to update the Candidate Tracker and will let members know when changes have been made. As a reminder, we added Garminn, LTD (GRMN) to our Watch List on Friday at an entry price of $39.33 with a price target of $41.70 and a stop of a close below $38.97. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List AMAT - Stock is fairly flat today and our target remains at $21.85. If it hits that level it will be removed from our Watch List. GRMN - Stock is up slightly today and a close above $39.96 would be bullish. TRIP - Stock has pulled back slightly below our original entry. Would to see it close back above Friday's close of $67.23 to get back on track. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. 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 or above the stop loss provided. At your service, John Hopkins, EarningsBeats