EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AEM, AKAM, AVP, BG, BZH, CAH, CI, CLX, CME, COP, EXPE, GG, HAR, ITT, K, KRFT, LM, LNKD, MA, MFC, MPC, MWW, MYL, OPEN, RGLD, RRD, SI, TEVA, VIA, WLT, WYNN, XOM Friday: AXL, CTB, CVS, CVX, EL, LNG, NWL, SWN, TDS MARKET NOTE: The behavior in the stock market is slightly better today, but there are many hurdles ahead technically. Once we get past the first week of May, the historical trends favor being on the short side so you might consider any period of strength near-term as an opportunity to lighten your portfolio load on the long side and, for those that are aggressive, possibly building short positions. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. HOWEVER, I will be adding at least a couple on Friday. I want to await the jobs report in the morning, plus this week is one of the biggest in terms of quarterly earnings reports. This should provide an opportunity to unveil a few stocks that look good - on either the long or short side. I have no preference really, I just look for stocks that appear likely to head in one direction or the other with solid reward to risk setups. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - It's been very methodical in terms of its downtrend, but the downtrend does remain in play. The intermediate-term trading range is from 94.00-100.00, although I believe it's more likely we'll eventually see a breakdown. Large Cap Watch List: VIPS - After touching price support near 130.00 on Wednesday, VIPS has soared close to 18 bucks. Consider taking profits as 150.00-160.00 has served as difficult resistance since gapping down below 160.00 in early March. Mid Cap Watch List: No new comments. Small Cap Watch List: PLOW - We've seen several tests of price support near 16.50 so clearly that's the level to be aware of if you remain long this stock. Volume has been super light of late though, making technical analysis AND TRADING more difficult. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless stop losses are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com