EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: ARO, BKE, BRCD, CRM, DLTR, GME, GPS, INTU, MRVL, PDCO, PLCE, ROST, SHLD, TFM MARKET NOTE: The bulls continue to power forward with the Dow back over 17,000 and the S&P hitting a record high. The NASDAQ is taking a well deserved day off after leading the charge higher the past few weeks. While stochastics are stretched on all of the major indexes, the RSI's are not yet confirming that the market is overbought. So there's still room for the market to move higher if traders remain in a good mood. We do want to see if stocks hold into the close which could put pressure on the shorts. On the other hand, a reversal to the downside by day's end would evoke discussion about a double top. Should have a better sense by the closing bell. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: MTW - Stock remains weak considering positive behavior of overall market. Remains bearish technically. PVA - Stock is down over 3.5%, heading in the direction we thought it would. Large Cap Watch List: FDX - The recent uptrend remains intact even though the stock is flat today. Remains bullish short-term. 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