EB Watch List Update Report

Dear Members: MARKET NOTE: Finally some decent economic reports this morning including retail sales and Michigan consumer sentiment. So, does that fall under the good news or bad news category? It all depends on what you are hoping for. On the one hand, it's good to see some positive economic results. On the other hand, traders quickly start worrying that the Fed will raise rates come June. So really almost a no win which is why the market is hanging out but not doing much more. On the other hand, strong retail sales and consumer confidence helps to nix the idea that a recession is looming. At least for now. So you can put whatever pin you want on it depending if you are a bull or a bear. In looking at the charts, the S&P is trading between its 20 and 50 day moving averages. So not great but not bad. And though the NASDAQ is up today it continues to lag the overall market. But, it's put in a few higher lows since the May 6 low. All of this leading me to think that perhaps the worst of the selling we've seen of late is over. But I would be even more convinced if we saw a strong close and especially if the S&P can close back above 2068. Then the bulls might be able to take another shot at 2100. So for now we'll continue to watch and focus on preserving capital. KEY EARNINGS REPORTS Companies reporting earnings today (May 13) include: JCP Companies reporting earnings Monday (May 16) include: There are no key earnings reports due out Monday ADDITIONS TO WATCH LISTS: I see no reason to get aggressive here, either on the long or short side. Let's be patient until signals show otherwise. 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. I want to wish everyone a restful weekend and I will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins, EarningsBeats