EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: DKS, HD, JACK, MDT, PETM, TJX Wednesday: CNQR, CRM, DBD, GMCR, LOW, SJM, SPLS, TGT, WSM MARKET NOTE: Bullish action has resumed today with more all-time highs being set on both the Dow Jones and S&P 500. Perhaps the most bullish news, however, is that small caps are leading the action today. The Russell 2000 still has a ways to go, but we're getting closer and closer to December, which is the best month of the year for small cap stocks BY FAR. This is based on action since 1988. Thus, this is a decent time of the year to perhaps have a bit more exposure to those small and mid cap stocks. 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: BMY - Nearly touched 159.00, which is approximately where major short-term price resistance resides. ILMN - Is today's poster child for why we accumulate strong stocks on weakness. After triggering our second entry, ILMN is soaring today, up more than 7 bucks. 195.00 represents short-term resistance. RAX - Continues to push lower, but in all honesty, this is what we want. The breakout was near 40.50 and that would represent a solid reward to risk entry if we can get back down there. Mid Cap Watch List: AMBA - Volume accelerating on yet another breakout. Great action on a spectacular stock. CRS - Bouncing off its earlier test of its rising 20 day EMA. MLNX - Nice action, but more volume and a close over 44.00 would be required to perhaps launch MLNX towards its key 46.75 resistance. 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