EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ADM, AFL, AUY, BMY, BP, CIT, CMI, CNQR, CRAY, DB, EBAY, ESRX, GT, HRS, MAR, MGM, MRK, NOK, PNRA, S, SNY, STX, TRLA, TWTR, VLO, VRSK, X Wednesday: ABX, ADP, AMX, ATW, BCS, BYD, CNW, DRIV, EGN, ENR, EXC, GRMN, GSK, HSP, IACI, IP, IRF, ISIL, LL, LNC, MET, MUR, PBI, PSX, TASR, TWX, WDC, WLL, WLP, WMB, YELP MARKET NOTE: Historically, the stock market tends to perform quite well through May 5th, at which time there's a clear tendency for historical selling to kick in. Therefore, the current rally may have legs, but by the end of this week (or early next week), I'd be very careful on the long side and perhaps even think about growing more bearish and trading on the short side. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - Today is moving lower with the consumer staples group - still within its trading range. Large Cap Watch List: No comments today. Mid Cap Watch List: ATK - Announced merger with Orbital Sciences (ORB) and ATK is up approximately 7.5%. GIVEN THIS DEAL AND UPCOMING EARNINGS, WE ARE REMOVING ATK FROM OUR WATCH LIST. Small Cap Watch List: PLOW - Down 1.5% today, approaching its 50 day SMA. Technically, it remains strong with best entry between 16.50-16.80. DELETIONS FROM OUR WATCH LISTS: ATK IS BEING REMOVED FROM OUR MID CAP WATCH LIST AFTER ANNOUNCING MERGER TODAY. There are no other deletions today unless stop losses are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com