EB Watch List Update Report

MARKET NOTE: Dear Members: First, please note that you can get access to the recording from last night's Webinar by clicking on the following link. Remember you will need to be logged in to get the recording which is available only to members of EarningsBeats.com http://www.earningsbeats.com/members/Managing-Risk-How-to-Search-for-High-Reward-to-Risk-Trading-Candidates.cfm The market is struggling to find its footing today just a day after the Dow and S&P hit all time highs with all of the major indexes lower. When the Dow hit that record high it was extremely overbought and right now it has stochastics near 99 and a RSI over 70. In the meantime the NASDAQ, though not overbought, continues to lag; the noticeable rotation from tech stocks into blue chip stocks continues. The VIX is up 3% as it hovers near its 20 day moving average; it's still extremely low by historical measures but off the most recent lows which, spooking those who see the VIX as a contrarian indicator. While the Dow and S&P have some room before getting back to their respective 20 day moving averages, the same cannot be said about the NASDAQ which got within striking range of its 20 day earlier in the session. Overall I see two things to keep an eye on here. First, the Dow could use some relief; it's just too technically stretched. Second, the NASDAQ needs to hold that 20 day, now at 6199. Remember that the most recent bout of selling included the NASDAQ pulling back to 6100 so that could easily happen again. KEY EARNINGS REPORTS Companies reporting earnings today (June 20) include: ADBE, FDX, KFY, LZB, LEN and RHT Companies reporting earnings tomorrow (June 21 ) include: KMX, ORCL, SCS and WGO ADDITIONS TO WATCH LISTS: Please note that the Candidate Tracker has been updated and now includes over 200 stocks for your review. We will be looking at possible trading candidates as appropriate for members given the current market environment. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List None at this time Small Cap Watch List BLMN - Stock is down by 2.5% as it looks to hold its 50 day moving average, currently at $20.64. PLEASE NOTE WE ARE CHANGING THE STOP LOSS ON BLMN TO ANY CLOSE BELOW THE 50 DAY MOVING AVERAGE. Just don't want to take any unnecessary risks. CYH - Stock is down over 2.5% today after failing to close back above its 50 day moving average. We'll keep a close eye on the stock in case the stop loss needs to be adjusted. DELETIONS FROM THE WATCH LIST At your service, John Hopkins EarningsBeats