EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AXP, BBT, BLK, C, COF, GS, INTC, PNC, SCHW, SLM, UNH Friday: BK, CMA, GE, MS, MTB, SLB, STI Earnings activity will really start to pick up next week. ADDITIONS TO WATCH LISTS: There are no additions at this time, but I would expect the silent action of late to accelerate early next week as the volume of earnings reports expands. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: LEN - Has left a long tail beneath its 20 day EMA today as it's recovered and was trading at its high of the day a few moments ago. MCHP - Great performer, but clearly overbought short-term. ORCL - Up about 4% since it was first alerted a few weeks ago. It could be putting in a reversing candle with a long-term negative divergence in play. There'd be nothing wrong with taking profits here and raising some cash. ROC - Failed to make the breakout yesterday at 74.24. It now appears to be rangebound between 72.00 and 74.24, at least temporarily. SPLK - Another HUGE pop on SPLK with volume increasing - BULLISH action indeed. Our Target Price was hit at 80.00, so we'd immediately take profits and move to the sidelines. GREAT TRADE!!! VMC - Nice volume again as it tries to clear a key closing resistance level near 60. WSM - Our Final Entry at 55.75 triggered, but the bleeding hasn't stopped. If WSM closes below 55.00 today, we'll remove it from our Watch List and take the loss. A close above 55.50 would be even better, but the bulls have work to do to get there in the last hour. Mid Cap Watch List: CRR - Still hanging just above 108.00 price support. NUVA - Has hit our Target Price of 37.00. Consider taking profits. GREAT TRADE!!! With earnings out in a couple weeks, we're going to remove this one from our Watch List. OPEN - Showing relative strength again. TTEK - Hit our Target Price of 30.00. Consider taking profits. GREAT TRADE!!! VIPS - Exploding to the upside, but it has now moved into overbought territory. If you're in this one, it would be difficult to not take at least partial profits. Small Cap Watch List: ELY - Making its next breakout with volume accelerating. Great action! DELETIONS FROM OUR WATCH LISTS: NUVA hit our Target Price and has earnings out in a couple weeks. We're removing it. WSM will be removed if it closes beneath 55.00 today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com