EB Watch List Update Report

Dear Members: MARKET NOTE: We've got a brand new trading day, week and month as May gets underway. So far all of the major indexes are higher. The NASDAQ continues to be the weakest of the lot here as it remains below all key technical levels. But it is getting close to being technically oversold. Just not there quite yet. In the meantime the S&P is trying to find support at its 20 day moving average, now at 2073 which is where it is trading. Same with the Dow. So two of the three major indexes currently holding up fairly well. We're also nearing the end of the peak earnings season. What have traders thought so far? Not much about tech stocks with a so-so grade for blue chips and non-tech stocks in the S&P. But some might say this is a minor victory for the bulls since overall expectations coming into earnings season were quite low. The bulls might also point to the fact that the Dow and S&P are holding up decently given weak economic reports of late including the GDP report from last week. This includes weaker than expected reports this morning in the ISM and construction spending. And now we've got the monthly non-farm payroll report coming out this Friday, almost always a market mover once results are released. Bottom line? A mixed market but it could be much worse. Maybe one of those times to be more conservative with your capital until we get a better sense of where stocks might be headed in the near term. KEY EARNINGS REPORTS Companies reporting earnings today (May 2) include: AEGN, AIG, APC, DO, FMC, FOSL, GGP, L, OI, SBAC, SYY, TCO and THC. Companies reporting earnings tomorrow (May 3) include: ADM, BCC, CBS, CLX, CMI, CVS, DVN, DUK, DYN, EMR, EL, HRS, HSIC, H, ILMN, TAP, NYT, PZZA, PFE, PBI, RRD, HOT, VLO, VRSK, WU and ZG ADDITIONS TO WATCH LISTS: Going to continue holding off adding any stocks to the Watch List today. Let's see if the market holds here. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List There are no Large Cap stocks on the Watch List at this time. Mid Cap Watch List TRCO - Stock closed below our revised stop of $38.83 on Friday so is being removed from the Watch List at price of $38.55. Small Cap Watch List MRTN - Stock is up just over 1% and so far remains above all key technical levels. A close above $19.31 would be bullish. SSYS - This stock closed below our revised stop of $24.48 on Friday so is being removed from the Watch list at price of $24.47. DELETIONS FROM OUR WATCH LISTS: We are removing TRCO and SSYS from the 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. At your service, John Hopkins, EarningsBeats