EB Watch List Update Report

Dear Members: MARKET NOTE: Not a bad way to start the week with all of the major indexes higher. This in spite of disappointing results of OPEC related discussions on oil over the weekend where nothing got accomplished. The VIX is flat after rising earlier in the session so traders continue to feel confident that the market is in decent shape. The move higher today comes as earnings season gets ready to kick into high gear as hundreds of companies get ready to report their numbers this week. Its too early to judge earnings so far but based on the market action maybe the already lowered expectations will not be as bad as what has been reported. The target for the bulls remains 2100 on the S&P. That's only 10 points higher from today's peak, so certainly attainable. To the downside, the bulls would like to at least hold Friday's close of 2080. There should be strong support at the 20 day moving average, now at 2054, should traders decide to lock in some profits. But for right now the bulls continue to have the upper hand. KEY EARNINGS REPORTS Companies reporting earnings today (April 18) include: HAS, IBM, MTB, MS, NFLX, PEP and RMBS Companies reporting earnings Monday (April 19) include: CMA, DFS, GS, HOG, ILMN, INTC, ISRG, JNJ, KSU, LLTC, MTG, NAVI, NTRS, PM, SNV, AMTD, UNH, VMW and YHOO ADDITIONS TO WATCH LISTS: We are adding a stock to our a stock to our small cap Watch List as follows: Rowan Companies: RDC - Entry price of $15.59 (price as of this email) with a price target of $17.50 and a stop of a close below. $14.73. All details to be added to our site prior to tomorrow's open. 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 - This stock is higher again today and we will maintain our price target of 21.85. It is stretched technically so any move higher could be a good opportunity to lock in profits. In addition, please note that we are raising our stop to a close below $21.31. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List AVD - Stock is higher today and our price target remains at $16.80. 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