EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: ADSK, ANF, BIDU, BUD, CHK, DLTR, JCP, LOW, NTRI, RIG, RY, SODA, TASR, TDS, TGT, TJX, WFT, WLL Thursday: ALU, ARCP, BBY, BID, CHS, CRM, DECK, GPS, KSS, LAMR, MELI, MNST, MYL, PLL, RBS, ROST, SHLD, SPLK, TD, WEN NOTE: Despite new highs on the NASDAQ and a threat to breakout on the Russell 2000 and S&P 500, the same problems remain. Leadership is coming from many of the wrong places so just be careful and understand the risks of trading are greater right now. If you continue to trade, I'd consider trading fewer shares to reduce risk. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. Because TASR came off our report yesterday and SPLK will be removed today, I'll be looking to add a few stocks to our Watch Lists in the next day or two. I would continue to trade very cautiously, but we'd like to maintain a minimum of 10-15 stocks on our Watch Lists at all times. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - Thus far, 100.00 resistance is holding back the bulls. If you're short, I'd continue to watch this level and use it as a Closing Stop. Large Cap Watch List: CNQR - Threatening a breakout above 128.15, but it will need much more volume to confirm. Volume is light. FFIV - Having a very strong day, but also could use more volume to confirm this move. And don't ignore the long-term negative divergence that remains in play here. LEN - Hit our 44.00 Target Price, so if you're in this one, you might consider taking at least partial profits. New home sales were better than expected today is likely the culprit for the strong showing. ROC - Confirmed the breakout yesterday and is exploding higher today. 82.00 would seem to be the next target from a measurement standpoint and today's intraday high nearly reached 81.00. SPLK - Has had a HUGE run, but we are REMOVING THIS ONE FROM OUR WATCH LIST AS IT REPORTS EARNINGS ON THURSDAY. TEL - Continues to battle 58.00 resistance. Mid Cap Watch List: GMT - Did print that bearish engulfing candle on Tuesday so a further rise is not likely near-term. Good time to bank profits if in this one. TTEK - Attempting to break above 29.00, but could use more volume to confirm this breakout, if it occurs. Small Cap Watch List: There are currently no stocks on our Small Cap Watch List. DELETIONS FROM OUR WATCH LISTS: SPLK will be removed today as they are scheduled to report their quarterly results on Thursday. There are no other deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com