EB Watch List Update Report

Dear Members: MARKET NOTE: Traders are pocketing some of the profits from yesterday's nice move higher. As a result all of the major indexes are lower. So far the S&P has held all key moving averages which is a plus. In addition, the VIX is fairly flat even with today's selling and remains below all key technical levels which is bullish. Oil is up nicely today which is helping the market from selling even harder. And though the 50 day moving averages is now below the 20 day on the S&P, which is considered bearish, its not by much and another bout of buying could help change that picture. Let's consider this as well. Earnings season is pretty much over, at least for the majority of the most visible companies. And so far it seems that the market sees them as acceptable and thus the S&P remains within easy striking range of 2100. But the bulls would really like to see the S&P close back above yesterday's close of 2084 as that would signal the buying appetite remains strong. Bottom line today: the bulls want to at least hold 2069 on the S&P, the 20 day moving average. And to the upside they are hoping to revisit the 2084 level sooner rather than later. Probably best to go light here until we see what develops later in the day. KEY EARNINGS REPORTS Companies reporting earnings today (May 11) include: ARMK, EXPN.L, JACK, M, NTES, SINA and WEN Companies reporting earnings Monday (May 12) include: DDS, KSS, JWN, NVDA and SYMC ADDITIONS TO WATCH LISTS: We remain content to lay low for a while and let things play out and look for even better opportunities. In the meantime, we will be adding a number of stocks to the Candidate Tracker in the very near future and will keep you posted. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List STI - Stock is higher today even with the market lower. Target remains $43. There are no Large Cap stocks on the Watch List at this time. Mid Cap Watch List Small Cap Watch List ADPT - We issued a profit alert earlier in the day as the stock cleared our price target. Accordingly the stock will be removed from our Watch List. GREAT TRADE! DELETIONS FROM OUR WATCH LISTS: We are removing ADPT 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