EB Watch List Update Report

MARKET NOTE: Dear Members: We've got a new trading day and week well under way and traders are quickly moving to the sidelines. Concerns about new political developments over the weekend have resulted in the VIX soaring 20% as it moves back above key technical levels. Like a magnet, the S&P has retreated right back to its 20 day moving average, a safe haven for quite some time now. Will the bulls be able to make another kick save or will the selling pick up as the day progresses? Perhaps the only thing keeping the market from falling even further is the fact that we're smack in the middle of earnings season which includes hearing from AAPL and XOM tomorrow. In addition, we've got the Fed set to make its rate decision and announcement on Wednesday. Throw in non-farm payroll numbers due out Friday and it adds up to the potential of increased volatility, much like we are seeing today. It's not being lost on traders that the Dow is back below 20,000 after reaching that milestone last week. Now it's moved back to its 20 day moving average, a level it has mostly remained above since early November, so a close back below that level, now at 19,890 could result in even more selling. The range on the S&P is now 2272 to the downside and 2300 to the upside. We'll see if the bulls can defend once again or if traders will opt for safety. KEY EARNINGS REPORTS Companies reporting earnings today (January 30) include: BAH, CR, GGP, IDTI and RMBS Companies reporting earnings tomorrow (January 31) include: FLWS, AMD, AET, AFL, ALGN, ALLY, AAPL, BXP, CHRW, CB, CIT, COH, DHR, EA, LLY, XOM, FICO, HOG, MAN, MA, NDAQ, NEU, NUE, NS, PCAR, PFE, S, SNBC, UA, UPS, X, VLO and XRX ADDITIONS TO WATCH LISTS: None at this time; need to let things settle down, but will let you know if I spot any high reward to risk trading opportunities BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock effectively hit our target of $111.90 on Friday so will be removed from the Watch List. GREAT TRADE! Mid Cap Watch List NUAN - Stock is holding in relatively well compared to the overall market. $16.48 remains our target. Small Cap Watch List PIR - Stock closed below our stop loss level of $7.20 so is being removed from the Watch List. TRUE - Stock is flat for the day and a close above $13.12 would be bullish. DELETIONS FROM OUR WATCH LISTS: We are removing PIR from the Watch List At your service, John Hopkins EarningsBeats