EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: BBRY, IHS, KR, ORCL, PIR, RAD, TIBX Friday: DRI, KMX MARKET NOTE: The FOMC announcement has come and gone without much negativity from the Fed. Central bankers around the globe continue to do what's necessary to prop up both equity and debt prices and the Fed did little to change that. We do always have to wonder about equity prices heading into options expiration Friday and perhaps 2-3 sessions beyond as there's been the historical propensity to sell off, especially after a rally heading into options expiration week. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: ARG - Has been volatile for sure, but our 109.75 Closing Stop has not been violated. For now, the trading range seems to be 106.00-109.50. LL - Despite the continuing long-term positive divergence, LL is failing once again at its 20 day EMA. PRGO - Closed just above 143.00 resistance but didn't close above our Closing Stop of 145.00. Today, it's fallen back into its 140.00-143.00 gap resistance zone. Large Cap Watch List: CNP - As expected, tested 25.00 resistance earlier today. Grabbing profits here isn't a bad idea, although our Target Price of 27.50 remains. If you do sell, a solid re-entry level would be 24.20. HSP - Moving up again, but this time on much lesser volume. A breakout on light volume with a long-term negative divergence would be reason enough for me to sell and capture profits. Let someone else hold out for higher prices given the risk. Mid Cap Watch List: WTW - Recovered Wednesday afternoon, but down again today on light volume. Continuing to hold the rising 20 day EMA would be bullish. 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