EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: ACN, CONN, GME, LULU, RHT Friday: BBRY, GNVC MARKET NOTE: The selling not only continues, but it has escalated. I believe the best course of action is to remain very cautious. I know this strategy has been boring over the past couple months - really since we took profits on dozens of stocks on December 27th - but I think it's proven to be the right strategy to preserve capital. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - Support has been in the 95.50-96.00 range. SJM has been performing fairly well, mostly because it's in the defensive consumer staples sector, which has been performing well lately on a relative basis. Large Cap Watch List: CAT - Hard to beat a good stock down. FFIV - Came within 14 cents of hitting our initial Re-entry Price of 103.00 earlier today. Mentioned yesterday that support was likely in the 102-106 range, which is what we've seen thus far. MCO - After moving within a fraction of our Target Price of 84.00 recently, MCO has dropped back below our Initial Entry Price of 78.95 and is apparently heading for our Second Entry of 76.50. The daily MACD is nearly back to centerline support. ROC - Has triggered all of our entry points and is on the verge of closing below our Closing Stop level of 72.75. If it does, we'll remove it from our Watch List. Mid Cap Watch List: ATK - Big volume accompanied Wednesday's attempt at a breakout. Unfortunately, the attempt failed and we find ourselves back below 140. I see this one eventually breaking out, but it might not happen before another push lower to test the uptrending line in the current symmetrical triangle pattern. GMT - Lower off of yesterday's bearish engulfing candle - no surprise there. A close below 66.00, failing to hold price support, takes on more importance with a long-term negative divergence in play. I'd be out of this one. TTEK - Stopped out on Wednesday's close beneath 29.00. We've removed it from our Watch List. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: TTEK was removed from our Watch List based on Wednesday's closing price. There are no additional deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com