EB Watch List Update Report

Dear Members: MARKET NOTE: In yesterday's update I suggested we take a more cautious approach at this moment as the market looked like it needed a pause. We're seeing that today with all of the major indexes lower. While all of the major indexes are down over 1% the NASDAQ continues to be the weakest of them all. It's back below all key technical levels and the S&P is challenging the low from the other day at 2052. Should that go the next key level of support is at 2039. This selling today is coming with the VIX up over 10% as it climbs back above both its 20 and 50 day moving averages. So we can see that fear is back in the picture. And when traders get worried they move out of their long positions. Perhaps part of this selling can be attributed to the fact that peak earnings season is winding down some and overall it was nothing to brag about. Now the next big event will be Friday's non-farm payroll report which is always watched closely and can move the market substantially. One things for sure; traders have the opportunity to buy stocks cheaper today but so far they aren't biting. There's still plenty of time left in the trading day for that to change but at the moment we'll err on the side of caution. KEY EARNINGS REPORTS Companies reporting earnings today (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 Companies reporting earnings tomorrow (May 4) include: ADS.DE, ALL, CABO, CB, CON.DE, CXW, FICO, FRT, FIT, GDDY, HUM, ICE, LNC, MRO, MCK, MET, MOS, MUR, PCG, SIE,DE, GLE.PA, SUN, TSLA, TW, RIG, TRIP, WFM, WMB, YRI.TO and ZNGA ADDITIONS TO WATCH LISTS: Going to continue holding off adding any stocks to the Watch List today. Don't like the action at the moment. 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 Small Cap Watch List MRTN - Stock is down 1.5% today with a current stop of a close below $18.34. PLEASE NOTE THAT WE ARE CHANGING OUR STOP TO A CLOSE BELOW $18.56. If the stock closes below that level it will be removed from the Watch List. 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