EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: BK, CMA, GE, MS, MTB, SLB, STI Monday: None Tuesday: AMD, AMTD, BHI, CREE, DAL, FRX, HAL, IBM, JNJ, PETS, RF, SAP, TRV, TXN, VZ, XLNX Earnings activity will really start to pick up next week. The stock market will be closed on Monday in honor of Martin Luther King Jr. Day. ADDITIONS TO WATCH LISTS: There are no additions at this time, but several candidates are under consideration and many more companies will begin to report earnings. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: LEN - Technically, the price action (selling) is surprising given yesterday's reversing candle. 37.57 is a short-term closing price support level and we're basically there. PRGO - Testing its 20 day EMA. TIF - Now resides at its 50 day SMA with its MACD squarely on centerline support. After taking profits on this one to start the year, we'd re-enter at the current price and again at 86.00. Mid Cap Watch List: CRR - Bouncing again, but can it get through its declining 20 day EMA and stick into the close? That's the initial first step for the bulls. OPEN - Now two dollars off its earlier intraday high. It appears as though a bullish symmetrical triangle could be forming here. If so, this one will require patience. 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 - Following through on Thursday's closing breakout. Looks solid. TASR - Has weakened some since its last breakout, but the rising 20 day EMA should offer up nice support. DELETIONS FROM OUR WATCH LISTS: WSM was removed at Thursday's close for its closing stop violation. There are no deletions anticipated today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com