EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AMD, BBT, COF, CY, DAL, GOOGL, GS, PM, SLB, SNDK, UNH, XLNX Friday: BK, GE, HON, MS, MTB, STI MARKET NOTE: Despite a ton of recent selling, oversold conditions and options expiring tomorrow, it's still been like pulling teeth to get a rally going. It also seems like any cash on the sidelines is much more interested in the safety of treasuries as opposed to the volatile stock market. Therefore, we must keep a very cautious outlook on equities in the near-term, especially considering that next week is the worst historical period of the year for each of our major indices. ADDITIONS TO WATCH LISTS: We are adding one stock to our Large Cap Watch List - COST. We would enter an initial of two positions at the current price of 123.42. More to follow on our website this evening. 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 - If you've entered recently, today's test (and failure thus far) at the falling 20 day EMA could provide a reason to take profits. NKE - Mired in a short-term downtrend, staying fairly close to our second entry. PLL - Held onto our Closing Stop at Wednesday's close. We would now use 80.00 as our Closing Stop, which is slightly lower than the 80.50 originally indicated. SPR - Also held Closing Stop at Wednesday's close. Nice hammer printed on volume. Needs to turn higher from this level. Mid Cap Watch List: AMBA - Recently printed a higher low and has been rebounding nicely since. For the VERY aggressive trader. JACK - Nice recovery yesterday off price support. SNCR - Clearly that 42.00 area is critical support. VEEV - Excellent recovery and now 10% higher off our final entry at 25.00 that's been tested several days recently. Small Cap Watch List: NX - Solid recent action. Need to close above 18.50 to have a better shot at testing gap resistance and our target at 19.35. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com