EB Watch List Update Report

Dear Members: MARKET NOTE: One day after some decent selling the losses have been made up. Not totally surprising considering it is month/quarter end where money managers/mutual funds/institutions settle positions while hoping to show they made smart decisions for their investors. All of this leading to the S&P being exactly where it was on September 9 before hitting the most recent low of 2119 the next day. So basically over the past three weeks we've gone nowhere. The bulls will argue that's not so bad while the bears will argue the market is stuck. Both might be right. Not surprisingly the NASDAQ remains the current champ. In fact it touched its 20 day moving average on the selling yesterday and held exactly where it needed to with follow through buying today. The VIX is down by 8% today as traders nerves have steadied after signs of worry yesterday. So we're definitely on a day to day clock here, depending on what news comes out that might boost or spook the market. I'm believing at the moment that the S&P will continue to trade in its current range of 1920 to the downside and 1993 to the upside until earnings start coming out over the next few weeks. In other words, traders want to see what profits for Q3 look like before making any big bets. This makes it a little trickier to trade profitably; you really have to be on your toes and lock in profits quickly before they evaporate. KEY EARNINGS REPORTS Companies reporting earnings today (September 30) include: MKC Companies reporting earnings tomorrow (October 3) include: There are no key earnings reports due out Monday ADDITIONS TO WATCH LISTS: I want to point out that once earnings start to come out over the next few weeks we will be adding a lot of trading candidates to the Candidate Tracker. Right now very few companies are reporting but that will change starting the week after next. Will keep you posted via email on any new trading alerts BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List ROST - Stock is up almost 1.5% today and still needs to clear the recent high of $64.62 to have a shot at our target of $65. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List LCI - Stock closed below our stop loss of $28 yesterday so it is being removed from our Watch List. DELETIONS FROM OUR WATCH LISTS: LCI is being removed from our Watch List I want to wish everyone a restful weekend and will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins EarningsBeats