EB Watch List Update Report

Dear Members: MARKET NOTE: Caution has been our buzz word the past few sessions and for good reason. Today we are seeing the market under fire once again with all of the major indexes lower. In what's been a common theme of late the NASDAQ is the weakest of them all as it continues well below all key technical levels. The good news? It's getting very close to being technically oversold. At the same time the S&P is below its 20 day moving average but trying to hold its 50 day, now at 2040. The VIX is higher by over 5%; more fear in the market these days. So overall, a bearish picture with traders being careful about putting money to work on the long side. Part of this could be because of a weaker than expected ADP jobs report this morning but on the other hand productivity and ISM services beat expectations. So a mixed picture for the Fed to study as they look at the interest rate picture. For now we'll want to see if that 2040 level holds. If it does perhaps the worst of the selling will be over. KEY EARNINGS REPORTS Companies reporting earnings today (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 Companies reporting earnings tomorrow (May 5) include: ACAD, Y, APA, AVP, CERN, CHK, DISCA, DWA, FEYE, FISV, FLR, FTD, HLF, IEP, ITT, JCOM, K, KHC, MFC.TO, MRK, MGM, MHK, NWSA, NRG, OXY, SPWR, TIME and VLP ADDITIONS TO WATCH LISTS: It's tempting to nibble here but I would prefer to see if the S&P tests that 2040 level later today. If it does that might be a decent place to consider a position or two on the long side with tight stops. 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 - This stock is hanging out right at its 50 day moving average, now at 18.57, If the stock closes below its 50 day moving average by day's end 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