EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ADI, CHS, CTRP, DSW, EV, HPQ, PLL, TIF, VAL, VEEV Wednesday: DE MARKET NOTE: After a strong GDP revision was released for Q3, our major indices started the day off in positive territory. It's struggled to hold onto that positive action, but the Russell 2000 did manage to open at its highest level since July 7th. This small cap index now is just 2% away from a breakout to an all-time high close, which would certainly add to the market's recent bullishness. The only serious negative today is that money is rotating into treasuries and sending the 10 year treasury yield ($TNX) down to test a key short-term support area near 2.30%. 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: ILMN - Hit a three week high earlier in the session. RAX - Showing few signs of letting up after its heavy volume breakout above 40.50. Mid Cap Watch List: AMBA - Up more than 50% from our lowest entry level a little more than two months ago. Earnings will be coming out next week so WE ARE REMOVING AMBA FROM OUR WATCH LIST AS OUR BEST PERFORMER SINCE INCEPTION! GREAT TRADE!!! CRS - Closing in on price resistance at 52.87. Will need more volume to confirm a breakout, should one occur. CUBE - Light volume today as it approaches key price resistance at 21.40. IRBT - Volume beginning to accelerate as IRBT trades intraday above its breakout level of 36.36. If it holds into the close, would be very bullish. MLNX - Continues to trade within a bullish symmetrical triangle, but needs a high volume breakout above 43.00-44.00 to confirm the pattern. TASR - Volume again ramping up as TASR moves within striking distance of a pivotal breakout. The key level of resistance is now closer to 21.00 because of Friday's gap higher and failure. VDSI - Big volume confirming breakout, but there is a long-term negative divergence. Therefore, consider raising closing stop to 28.27. CMPR - Light volume, but a nice bounce off the rising 20 day EMA nonetheless. A close above 68.82 will need more volume to confirm. Small Cap Watch List: No comments at this time. DELETIONS FROM OUR WATCH LISTS: AMBA is being removed as it's been a great performer and earnings are due out next week. There are no other deletions today unless closing stops are triggered. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com