EB Watch List Update Report

Dear Members: MARKET NOTE The market action continues to be quite volatile with a lot of the early gains evaporating. In fact, the NASDAQ has moved into negative territory. This goes to show you that traders have gotten a bit more defensive lately. Today's weakness cannot be blamed on oil; it has moved up nicely today. And gold is having a solid day as well. Let's remember that the S&P held key support yesterday, closing above all key technical levels. And the VIX is down by almost 5% today so a lit bit less nervousness today then the past few sessions. In looking across the board, blue chips are holding up the best while tech stocks are showing the most weakness. So a mixed picture instead of all of the major indexes being in sync. At this point all eyes will be turning towards earnings with Alcoa reporting its numbers next Monday, April 11. So we are at a "show me the money" point in the market, especially with earnings expectations so low. For now we'll want to see if the bulls are able to hold the line at 2037 which is important support on the S&P. To the upside a close above 2066 would definitely be bullish. KEY EARNINGS REPORTS Companies reporting earnings today (April 8) include: There are no key earnings reports due out today Companies reporting earnings Monday (April 11) include: AA, KMI and MSG ADDITIONS TO WATCH LISTS: Since we remain in a fairly narrow range we will hold off adding any stocks to the Watch List 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 up slightly. We need to see AMAT close back above $21.42 to have a shot at our target price of $21.85. GRMN - Stock is up slightly and a close above $40.05 would be bullish. TRIP - Stock closed below our stop level yesterday so is being removed from the Watch List. 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: We are removing TRIP from our Watch List. There are no other deletions from the Watch List today unless a Watch List stock closes below or above the stop loss provided. I want to wish everyone a restful weekend and I will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins, EarningsBeats