EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: None Monday: CPB, URBN MARKET NOTE: As you can see from the above list of key earnings reports, earnings season has obviously wound down. There have been few technical signs of more strength in equities to come. Yet there haven't been any price/volume breakdowns to corroborate all the warning signs in 2014. So we're in a "wait and see" approach for now. There are still many reasons to be cautious, however. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: FLR - Hit our Target Price of 73.50 so we are back on the sidelines on this one with a nice profit. Great trade!!! FLR will remain on our Watch List as a potential short on a bounce. For those holding, you want to see further deterioration and a close beneath 73.50. Volume is fairly strong today and would likely confirm a breakdown, should one occur. SBH - Triggered Initial Short Entry at 26.30. Second Short Entry is at 27.50 while our Target Cover Price is 25.25. Large Cap Watch List: CNP - Rallying nicely thus far off trendline support. Mid Cap Watch List: ALJ - Resting almost squarely on our Closing Stop of 14.50. We will honor this stop, but it is possible that recent support at 14.00 is tested again and re-establish a different uptrend line within its ascending triangle pattern. You'll have to decide if you want to give it that much room to the downside. WTW - Has been hesitating at its 20 day EMA. I'd like to see a bounce from this key moving average to confirm my belief that the recent gap up has established a new uptrend. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com