EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: A, AAP, ADSK, AMAT, FNMA, FWLT, JCP, JWN, KSS, PRGO, SINA, WMT Friday: EL MARKET NOTE: The stock market is doing its best job of shaking off bad economic news this morning as initial jobless claims moved unexpectedly back above the 300,000 level, rising much faster than market pundits had anticipated. Technically, the market still has many issues to resolve, but the bulls have clearly regained the upper hand. Watch for impulsive moves to the downside. Such action would likely spell trouble for this rally. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: MTW - Inching higher, but flat today. PVA - Recently, the 13.20-13.30 area has been holding as resistance. I do believe PVA could touch 13.75 or so, especially if overall market behavior remains mostly bullish. Large Cap Watch List: FDX - Struggling today, but on anemic volume. The overall pattern here is bullish, so until 144-145 price support is lost, I'm comfortable on the long side. Mid Cap Watch List: There are no Mid Cap Watch List stocks at this time. 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