EB Watch List Update Report

Dear Members: MARKET NOTE: The market has picked up some today with all of the major indexes higher. Makes sense that the bears would at least get one day off, especially with the NASDAQ down 8 of the past 9 sessions. That's rough. But the move higher today hasn't seen much of a recovery of the recent losses. I would term it a fairly weak bounce. Perhaps traders are content to wait until Friday's non-farm payroll report. The VIX is lower today but it's still above some key technical levels so traders continue to fret. For sure the NASDAQ is very close to being technically oversold. I cannot say the same for the Dow or S&P though they have been quite weak as well. The S&P continues to remain above its 50 day moving average, a small consolation for the bulls, but its not insignificant. That 2043 level is important support. The S&P hasn't been below its 50 day since the end of February. To the upside the bulls would like to see a close back above 2070, the 20 day moving average. In the meantime its a toss up here as we get ready for the big jobs report tomorrow. KEY EARNINGS REPORTS Companies reporting earnings today (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 Companies reporting earnings tomorrow (May 6) include: CI, CTSH, EXC, MSG, MEG, UM and WY ADDITIONS TO WATCH LISTS: We added Suntrust (STI) to the Watch List earlier today at an entry price of $40.78 as of the email with a target price of $43 and a stop of a close below $39.31. PLEASE NOTE THAT WE ARE ADDING A SECOND ENTRY LEVEL OF $40.15 if the stock pulls back to that level. 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 being removed from out Watch list as it closed yesterday below the stop of $18.57. DELETIONS FROM OUR WATCH LISTS: We are removing MRTN 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