EB Watch List Update Report

Dear Members: MARKET NOTE: Debate number two is now in the history books and so far the market is holding up well. The S&P is attempting to clear its 50 day moving average with the bulls hoping it closes back above 2167. At the same time the NASDAQ got within 2 points of its all time high of 5342 earlier in the day. So traders continue to favor tech stocks over blue chip stocks. The VIX is flat for the session with traders showing they are willing to put some money to work on the long side. The move higher this morning comes a few days ahead of the kick off of earnings season with Alcoa reporting its numbers before the market opens tomorrow. Then we'll see thousands of companies report their numbers over the next several weeks. Of course before the bulls declare total victory here we must keep in perspective that the S&P remains stuck; zero progress in 3 full months. Yet the bears have been unable to do much damage, witness the NASDAQ right near its all time high. Thus it remains tough to even consider shorting the market; too hard here. The bulls would like to see a close on the S&P back over 2170 as its been a hard nut to crack. Even better would be a close above 2177 which could then put the all time high of 2193 into play. It wouldn't take much at this point for that to happen, especially if we start to see a positive earnings picture. KEY EARNINGS REPORTS Companies reporting earnings today (October 10) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (October 11) include: AA and FAST ADDITIONS TO WATCH LISTS: First, please note that we have added some new stocks to the Candidate Tracker that are now available for your review on the site. We have added RHAT to our Watch List at an initial entry price of $78.69 (price as of email) with a second entry at $78 on any pullback to that level. The price target is $82.70 with a stop loss of a close below $77.04. All important information will be added to the Watch List section of the 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 There are no Large Caps stocks on the Watch List at this time Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List DV - Stock is up 1.2% and a close above $23.50 would represent the highest close in six weeks. EAT - Stock is up 1.2% as it tries to climb back above its 20 and 50 day moving averages, currently at $51.06 and $51.22, respectively. A close above the 50 day would have to be seen as bullish. DELETIONS FROM OUR WATCH LISTS: None at this time. At your service, John Hopkins EarningsBeats