EB Watch List Update Report

Dear Members: MARKET NOTE: The bears are finally seeing the benefit of patience in an overbought market that has been mostly a low volume grind higher. As a result, all of the major indexes are lower. Make no mistake that the bulls will try to put up a fight, especially if the S&P pulls back near 2100 where there should be nice support. One thing worth mentioning is the VIX which is up close to 5% and is now back above both its 20 and 50 day moving averages. So, at least for today, a bearish sign. The good news for the bulls is they made a nice near term high near 2120 and within 10+ points from an all time high. Pretty impressive! And now that they've had a taste for what "might be" I expect a battle here. In fact, if the S&P pulls back near 2100 it will be a level I will be looking at for fresh opportunities. In the meantime, nothing to do but hold off doing anything as we watch what develops today with the trading range on the S&P now 2120 to the upside and 2100 to the downside KEY EARNINGS REPORTS Companies reporting earnings today (June 9) include: HBC.TO, SJM and KFY Companies reporting earnings tomorrow (June 910 include: There are no key earnings reports due out tomorrow ADDITIONS TO WATCH LISTS: I remain in capital preservation mode. Let's see what happens later today. 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. At your service, John Hopkins, EarningsBeats