EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AMD, ATHN, BBT, BHI, BX, CMG, DD, GE, GS, HON, MAT, MS, PEP, PM, SAP, SLB, UNH Friday: None (Holiday - Market Closed) Monday: HAL, KMB, NFLX, STI, ZION MARKET NOTE: The organized and LEGAL crime ring called Wall Street has been at work all week as prices have gravitated higher towards max pain after reversing at and holding key price support on Tuesday. While the short-term appears much stronger, it may be nothing more than a mirage. Next week, I'll be watching to see if the NASDAQ can clear the 4150 area. That'll be a significant short-term test for the bulls, while a close back beneath 3994 on increasing volume would be a MUCH more bearish signal for the intermediate-term. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: No comments today. Large Cap Watch List: CAT - Has been one of our best performers this past quarter. They will be reporting earnings soon, though, so we're going to REMOVE IT FROM OUR WATCH LIST. TEL - Key short-term price resistance resides at 61.90. Taking profits at or near that level makes good technical sense, especially given the current market environment. VIPS - Another very nice bounce off the 130 level. This one is quite volatile, though, so consider taking profits on strength as it's now approaching downtrend line resistance off the recent highs. Mid Cap Watch List: ATK - Held recently at 135 and is once again improving technically. Volume trends remain solid here. KFY - Beautiful bounce from just above gap support in recent days. Next breakout on a closing basis is at 30.55. At last check, KFY was at 30.40. I expect it'll breakout eventually, but I'd still take profits here. KFY REMAINS ON OUR WATCH LIST, HOWEVER, FOR POSSIBLE RE-ENTRY ON FUTURE WEAKNESS. Small Cap Watch List: PLOW - Volume has continued to dwindle as PLOW trades within its current range of 16.50-17.60. DELETIONS FROM OUR WATCH LISTS: CAT IS BEING REMOVED AS IT'S BEEN VERY STRONG AND WILL BE REPORTING EARNINGS FAIRLY SOON. There are no other deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com