EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: YUM Wednesday: AA, COST, MON MARKET NOTE: Failure at the falling 20 day EMAs on Monday was a precursor to more weakness today. If the recent low close fails to hold as support on our major indices, we're certainly looking at a significant jump in risk. I'd be very careful trading this market. ADDITIONS TO WATCH LISTS: There are no additions 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 - Up nearly 2% today, moving against the grain - bullish. NTAP - Closed on Monday beneath its 50 day SMA and has continued to trade lower today. Nice support remains in the 39.00-40.00 area with our 2nd entry at 40.00 approaching, but not yet triggered. Mid Cap Watch List: AMBA - Not far from another breakout, it's been an amazing performer given market conditions. DSW - Could be breaking down near-term beneath closing price support at 29.81. Our 2nd entry is 28.50, still a ways off. SNCR - Another successful test of the 20 day EMA thus far. VEEV - Triggered our 2nd entry at 26.21 and bouncing at last check. Small Cap Watch List: NX - Tested the low end of its recent 17.50-18.50 trading range and is showing strength from that level. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com