EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ALTR, AMGN, BRCM, COH, CREE, DAL, DD, EMC, ITW, JNPR, LMT, PNRA, STT, UTX Wednesday: AKAM, T, BA, BMY, CAT, CTXS, ETFC, LLY, FFIV, FDML, GD, LRCX, LL, NSC, NOC, SYMC, TSCO, TRIP, WLP These are a minor few of the companies reporting today and tomorrow. Please check the earnings dates for any stocks you own. ADDITIONS TO WATCH LIST: Forest Labs (FRX) is being added to the Large Cap Watch List. An annotated chart will be provided this evening. Nu Skin (NUS) is being considered. BRIEF COMMENTS ON WATCH LIST STOCKS: Large Cap Watch List: A - initial entry at 20 day EMA triggered. FOSL - hit 124.99 earlier today, not far from our 126.50 target. Not a bad idea to think about lessening the load here. MELI - target here is 147.00 and today's high was 145.99. That's not far from our target after a nice run higher from our initial entry point at 133.00. CRM - with negative divergence, perhaps we'll see an upcoming 50 day SMA test. Just watching for now. Mid Cap Watch List: BRCD - opened today just one penny beneath key closing resistance. 8.00-8.10 has been solid support lately. A breakout above 8.36 on heavy volume is what we're looking for. CIEN - has broken out again recently, but that long-term negative divergence and suspicious volume have me waiting for a more significant selloff before considering entry. FINL - hit 25.00 target, and leaving long tail above 25.00. Could be reversing candle here. I'd move my FINL position into cash. GPN - hit target at 57.00 and has continued trucking higher. We will adjust our trading strategy on this one tonight. HAIN - approaching 82.50 target. If in it, consider taking profits as key price resistance is tested. HAR - moving up, but on light volume. I think we may get a chance to enter this one lower in time. TIBX - battling trendline resistance from recent highs. UNFI - revised annotated chart will be done this evening (failed to change it last night). 1st entry will now be recent breakout level at 68.99 with 2nd entry at 64.60. Small Cap Watch List: EXTR - potential reversing candle (bearish engulfing) today, so perhaps we'll finally see some selling here. This one never hit our entry points, but if you're holding, you might consider at least taking partial profits. FSS - selling off today on big volume after a big rally. We are going to change strategies here with our first entry at the rising 20 day EMA and 2nd entry at 12.50. SHOR - little volume as it continues to push higher with an ugly long-term negative divergence. May be a price to pay at some point, but not right now. SIGM - high wave candle on big volume suggests indecision here. SIGM doesn't know which way to go. We still like it though and hoping we can get entry a bit lower. DELETIONS FROM OUR WATCH LISTS: No deletions today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com