EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: BMY, COV, GWW, HON, KMB, PG, STT Monday: AAPL, CAT, RCL, STLD, STX ADDITIONS TO WATCH LISTS: There have been some nice earnings reports out that we may consider early next week for inclusion on our Watch Lists, but the overall market conditions are too risky to be adding stocks at the moment. So let's hold off until early next week for further additions. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: FFIV - Going against the grain, actually above our initial entry price despite the impulsive selling in the market today. IHS - Staying fairly close to our initial entry from two days ago despite the very weak market conditions. Our second and final entry of 114.00 was approached, but not triggered. LEN - Having a very poor day today, back to our original entry price. The next entry, however, remains quite a bit below current price as it resides near gap support at 35.40. PRGO - Threatening to close below its 50 day SMA for the first time since late September, but the volume is very light. Next price support is in the 148-150 area. ROC - A close today above 70.00 would be better than the alternative. Volume is not even average so there's a chance this is nothing more than an opportunity for market makers to build an inventory - but a close over 70.00 would paint a better picture technically. SPLK - Getting hit hard today, but understandable given the overbought conditions here and the overall market environment. 76.00 is the first key support level to watch. TIF - Breaking down into gap support zone today, with 83.00 and 81.00 levels to consider entering - for aggressive traders. I'd keep a fairly tight stop, however, beneath say 80.50. No big chances here. VMC - Volume trends solid here, but nothing is immune to the impulsive selling so VMC is going along for the downside ride. It is recovering off its earlier intraday low, though. Mid Cap Watch List: ASNA - 19.40 is very key closing price support here. If it doesn't turn at that level, I wouldn't hold it. TTEK - After recently hitting our Target Price at 30.00, a pullback to test gap support and the rising 20 day EMA would be a nice re-entry level. VIPS - Bouncing off its 20 day EMA. Small Cap Watch List: TASR - gap support at 16.51 and the rising 50 day SMA need to hold here in the short-term. DELETIONS FROM OUR WATCH LISTS: None at this time. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com