EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: None Tuesday: ULTA, UNFI MARKET NOTE: With little economic news today, traders resumed what they were doing last week - buying. We're now very overbought across our major indices with stochastics near 100 earlier on each. That combined with slowing money flow may keep stock prices down, possibly even lower, heading into mid-month. Short-term technical indications are bullish, though we know many bigger picture issues remain. That can make for treacherous trading conditions, so just be sure to keep closing stops in place. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: ARG - Closed one nickel below our 109.75 Closing Stop so we remain in this one. We're down today and a close back below 109.00 would be a good start to another possible downtrend. PRGO - Traded above 140.00 earlier today, but now back beneath it. TRMB - Maintaining our Closing Stop at 38.50. At last check, TRMB was at 38.75 so it will be an end of day decision. A big selloff end of day, leaving a long tail above 38.00 would be best for our short position. Large Cap Watch List: FLEX - No changes in this one as it powers further ahead. HSP - Close to eliminating its long-term negative divergence. Volume trends are quite strong, however, and outweigh the negative divergence at this point anyhow. Mid Cap Watch List: ALJ - Has nice price support near 14.00. If it closes below 14.00 we will remove 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: There are no deletions today unless closing stops are violated. TRMB and ALJ are two to keep a close eye on. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com