EB Watch List Update Report

Dear Members: MARKET NOTE: There's a reason we've been in caution mode for a while. The market remains challenged here with all of the major indexes lower. Not surprisingly the NASDAQ is leading the move lower; tech stocks have been roughed up lately. Just look at Apple, down almost 3% as it hits a freh 52 week low. That's never going to be good for the market. At the same time the bulls are trying to hold the 50 day moving average on the S&P. So far they have been successful but there's lots of time left in the trading day. The VIX is higher today as it climbs back above both its 20 and 50 day moving averages. But its still well below the lofty levels we saw earlier in the year when the market was in panic mode. The bulls know that if they want to limit the selling they need to hold that 50 day on the S&P, now at 2053. If that goes then 2039 is next. Bottom line: we remain cautious here and will wait and see what develops the next few days. KEY EARNINGS REPORTS Companies reporting earnings today (May 12) include: DDS, KSS, JWN, NVDA and SYMC Companies reporting earnings Monday (May 13) include: JCP 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 down slightly. Target remains $43. There are no Large Cap stocks on the Watch List at this time. Mid Cap Watch List Small Cap 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