EB Watch List Update Report

Dear Members: MARKET NOTE: I've been fearing that the S&P would have trouble holding 2100 and we can see today why. The much worse that expected jobs report put a screeching halt to the recent rally with all of the major indexes lower. Today we saw that bad news was not treated as good news. The weak report immediately got traders thinking the Fed will now have to back track; forget about an interest rate raise in June. And we all know the market hates uncertainty/confusion which is exactly what we've got right now. Interestingly, the VIX is up only slightly and in fact remains below all key technical levels. To me that's bullish and could indicate traders see at least one silver lining here, that the Fed won't be raising rates this month. BUT, the report also shows potential trouble in the future. After all, jobs have been the one standout for quite a while in a weak economy. All of this to say...it's tough to do much of anything here. We need to get through today and see what Monday looks like. We've been patient up to now and it makes sense to continue laying low, see if the bulls can move the S&P back above 2100 and go from there. KEY EARNINGS REPORTS Companies reporting earnings today (June 3) include: There are no key companies reporting earnings on Friday Companies reporting earnings Monday (June 6) include: There are no key companies reporting earnings on Monday ADDITIONS TO WATCH LISTS: Let's hold off on doing anything for now 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 There are no Small Cap stocks on the Watch List at this time. 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