EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: BZH, CNQR, CSCO, DBD, ECA, ENR, JCP, M, NTAP, ROK Thursday: AMAT, DDS, JWN, KSS, MFC, SBH, SINA, TYC, VIAB, WMT MARKET NOTE: Our major indices are continuing to consolidate today. We saw a bit of early weakness to relieve our overbought oscillators a tad, but buyers came right back in to support prices. We're seeing a bit of outperformance by the more aggressive NASDAQ and Russell 2000 and aggressive sectors are mostly leading the action today as well. This is solid short-term action, but these aggressive sectors need to remain on top for more than a day or two to encourage more traders with higher risk appetites back into the market. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today, but we will be adding more stocks over the next few days so be watching for that. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: COST - Hesitating near the 137.50 level, but this one has been a solid performer since being added when its price was approximately 10% lower. ILMN - Finding nice support recently in the 185-190 area. Mid Cap Watch List: DSW - Bouncing off moving average support. Can this one clear 32.24 closing price resistance on volume before its next earnings report? INFN - Down fractionally today, but very solid technical action. IRBT - That huge move higher on extremely heavy volume after earnings tells me this is simply consolidation before another push higher. MLNX - Very rough start today, but has recovered nearly all of its 6% loss at the open. This is a poster child of why we prefer CLOSING stops. Small Cap Watch List: No comments at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are triggered. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com