EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: BYD, HOV, KFY, PETM, REV Thursday: ALU, AMBA, CIEN, COO, COST, JOY, KFY, KR, PLCE, QIHU, SPLS, TFM, VIP MARKET NOTE: It's been a very quiet day despite disappointing economic news. Both the ADP employment change report and the ISM services index came in short of expectations. In the case of the February ADP report, January's numbers took a significant downward revision from 175,000 jobs to 127,000. The Fed's beige book is due out momentarily at 2pm EST. We'll see if that has any effect on price action. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - Falling back after testing price resistance near 100.00 for a few days. Large Cap Watch List: CAT - Significant deterioration in the daily MACD taking place so any new breakout will show serious signs of slowing momentum. It could be the final upside move for awhile - at least until the MACD is reset. CNQR - Trying to hang onto its 20 day EMA support, but given the weakening MACD, it's a 50/50 shot at best. FFIV - Attempting another breakout with a very weak MACD - I'd take profits if I owned it. MCO - Continuing its bounce from Tuesday off of key rising 20 day EMA support. UA - Solid bounce today after nearly testing its rising 20 day EMA on Monday. Mid Cap Watch List: SSTK - Closing resistance is 102.84 so don't be shocked that today's intraday high was 102.81. Sellers lined up there in the near-term. TTEK - We took profits here yesterday, but it did make the breakout on the close on confirming volume. Therefore, if I held it or a portion of it, I'd simply raise my closing stop to 30.00 and look for a 32.50-33.00 target. Small Cap Watch List: MRIN - Looks solid after testing support on Tuesday and bouncing. The biggest resistance level on the stock is 12.46. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com