EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: AZO Tuesday: AIR, BBBY, CCL, KMX MARKET NOTE: I pointed out last week that the stock market's tendency historically is to be down this week in September, so we shouldn't be shocked by this action. Some of it could have to do with the unwinding of options expiration Friday as well. That tends to direct prices lower as well. In any event, the overall technical outlook is bullish, but continued near-term profit taking should not be ruled out. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: BIDU - Remains in a 210.00-230.00 trading range with today's selling pushing BIDU closer to the bottom of this range. CMG - Approached key gap support near 650.00 once again today after bouncing from this level last week. Entering a partial position makes sense at this level, just consider taking a small loss if it fails to hold on a closing basis as 620.00 could be next. HSP - Today's selling back into gap support zone represents at least consideration of partial entry. Save some powder in the event the market sells off further later this week. CRM - 56.00 looks like a very solid entry level. Mid Cap Watch List: AMBA - Waiting on a possible 20 day EMA test for re-entry. JACK - Continues to trade quite strongly and looks to push higher, especially if the overall market helps. Small Cap Watch List: No comments 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