EB Watch List Update Report

Dear Members: MARKET UPDATE We've got a brand new trading day and week and so far all of the major indexes are fairly flat after starting off on a positive note. At the moment all of the major indexes are looking a bit stretched with the Dow and S&P very close to being technically overbought. And let's not forget that the NASDAQ has risen from the recent low of 6081 non-stop for 7 days in a row with no relief. The VIX is up slightly but remains below 10; not much fear in stock land. We got our first taste of earnings with 4 major banks releasing numbers on Friday with market reaction negative on all four stocks. Earnings season will be in full speed ahead mode this week and will continue non-stop over the next several weeks. Expectations are high so not much room for disappointment. Without question there is a strong bid underneath the market. So it's tough to be bearish here. At the same time the recent move off the lows of July 6 just as the market was wondering if a much greater pullback was coming have me thinking that it would be healthy to give up some of the gains. We might see the market consolidate some here as traders await additional earnings reports. But at this particular point I don't think it makes sense to get aggressive on the long side, not after the non-stop move we've seen the past seven trading days. I would rather sit back and let the market settle down here. And if it moves higher it will simply be more overbought. In other words, no need to rush. KEY EARNINGS REPORTS Companies reporting earnings today (July 17) include: Before Market Open: BLK After Market Close: NFLX Companies reporting earnings tomorrow (July 18) include: Before Market Open: BAC, CMA, ERIC, GS, HOG, JNJ, LMT, NVS, PGR, AMTD and UNH After Market CLose: CSX, HBHC, IBM, NAVI and UAL ADDITIONS TO WATCH LISTS: Will let members know if spot any high reward to risk trading candidates. Feel like market is a bit stretched here so prefer to be more conservative at the moment. 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 TGI - Stock has moved within 10 cents of our target of $33.85 so we issued a profit alert earlier this morning to members. GREAT TRADE! PLAY - Stock is fairly flat as it hugs its 20 day moving average. Would much rather see it close back above its 50 day moving average, currently at $67.07 which would be bullish. DELETIONS FROM THE WATCH LIST We are removing TGI as it got close enough to our Price Target. GREAT TRADE! At your service, John Hopkins EarningsBeats