EB Watch List Update Report

MARKET NOTE: Dear Members: We're seeing a current market environment of a pullback with the Dow fairly flat and the NASDAQ and S&P both down just over .3%. It's the kind of pullback you get when everyone wants to be long and is willing to buy on any dips. It's what you get when the VIX remain a lot closer to all time lows than all time highs. I did notice that the equity only put/call ratio did spike yesterday after hovering near an extremely complacent level near .50. So the selling we are seeing today shows at least an acknowledgement that a pause of some type was way overdue. We're getting more earnings now with some very visible names missing expectations including IBM and Netflix. And NFLX serves as a reminder that it is very risky holding a stock into an earnings report; it's down 14% after a very disappointing report. Still, the S&P remains within easy striking range of its all time high just below 2170. BUT...make no mistake about it, the market remains technically overbought. It can remain overbought for a while but at some point we should see a decent pullback; more a matter of when rather than if. But it is also hard to fight the tape; the mood remains quite bullish. We just want to be careful to not get overly aggressive here after the big run we've witnessed for the past several weeks. The range on the S&P for now is 2170 to the upside and 2130 to the downside. KEY EARNINGS REPORTS Companies reporting earnings today (July 19) include: CMA, DFS, GS, ISRG, JNJ, LMT, MRVL, MSFT, NAVI, PM, AMTD and UAL Companies reporting earnings tomorrow (July 20) include: ABT, AXP, BKU, EBAY, FFIV, HAL, HBHC, IMAX, INTC, KMI, LVS, MTB, MAT, MS, NEM, NTRS, SLM, STJ, QCOM, RJF, TSCO and TUP ADDITIONS TO WATCH LISTS: We added PLAY to our long Watch List today and all important details have been added to our site BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List NWL - This stock is fairly flat today. If it closes below its 50 day moving average, now at $48.06, it will be removed from the Watch List. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List PLAY - Added stock to our long Watch List today at an initial entry point of $47.91 and a target price of $49.91. DELETIONS FROM OUR WATCH LISTS: 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