EB Watch List Update Report

MARKET NOTE: Dear Members: The events unfolding this morning as well as some weaker than expected economic reports have government bond yields falling sharply just ahead of today's Fed rate announcement. In fact the yield on the ten year Treasury Note is now at 2.10%, a level not seen since last November. But unlike November when bond yields equaled those of today, all of the major indexes are up substantially since that time. To me this is quite an interesting development; sinking bond yields and rising stocks, just as investors turn to safety. The VIX is up some today but well off the recent highs as traders manage to remain positive. In fact the Dow has hit a record high today as traders continue to gravitate to blue chips rather than the tech heavy NASDAQ. And in fact, the Dow is now technically overbought unlike the NASDAQ and S&P, which have cooled some. Everything going on this morning comes just a few hours before the Fed rate announcement with traders prepared for a .25 increase and hoping for a more dovish statement, given the weakness of some recent economic reports. So it's possible we could see a substantial market reaction, especially if the statement contains any language that catches the market off guard. The S&P remains in a narrow trading range of 2446 to the upside and 2420 to the downside. Not much room to work with and with the Fed announcement imminent it makes sense to hold off on any new positions for the moment. KEY EARNINGS REPORTS Companies reporting earnings today (June 14) include: JBL Companies reporting earnings tomorrow (June 15) include: BOBE and KR ADDITIONS TO WATCH LISTS: Will keep you posted. Want to continue to be very selective here. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List TWTR - Stock continues to struggle near its 50 day moving average, now at 16.93. The 50 day continues to be an important level to hold so If the stock closes below that level it will be removed from the Watch List. Mid Cap Watch List None at this time Small Cap Watch List BLMN - Stock is up over 1.5% today and a close above $21.62 would be bullish. CYH - Stock is up almost 3% today. A close back above the 50 day moving average, currently at $9.11, would be very bullish. DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats