EB Watch List Update Report

Dear Members: MARKET NOTE: The market continues to show volatility with all of the major indexes having a tough time holding earlier gains. The S&P is having a tough time clearing its 20 and 50 day moving averages; ditto on the Dow. In the meantime the love fest with tech stocks continues though the NASDAQ is off of its all time high. The VIX is flat today; it's trading right between its 20 and 50 day moving averages. Enough nervousness for traders to keep at least one finger on the sell button if necessary with one finger on the buy button if momentum picks up. Traders are looking for reasons to go long but so far today the Fed has indicated an increased chance for a rate increase by year end and the world GDP growth has been lowered. Not exactly ringing endorsements to get aggressive here but as usual tough to get short as well. This is one of those times where I think it makes a lot of sense to hold some extra cash. And I continue to believe we will first have to wait until Friday's jobs report and then see how earnings season develops before the market makes a big move wither way. However, to me there's more risk to the downside than the upside at this exact moment. The trading range on the S&P is well defined now; 2120 to the downside and 2193 to the upside. The S&P is pretty much in the middle of that range, a sign of indecision. KEY EARNINGS REPORTS Companies reporting earnings today (October 4) include: DRI and MU Companies reporting earnings tomorrow (October 5) include: STZ, MON and YUM ADDITIONS TO WATCH LISTS: 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 flat for the day. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List DELETIONS FROM OUR WATCH LISTS: No deletions today At your service, John Hopkins EarningsBeats