EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AAP, AIG, AIZ, APA, AVP, BG, BWA, CBS, CS, GRPN, HSP, K, KRFT, LBTYA, MFC, NLSN, RIO, SON, TRLA Friday: IT, RRGB, SJM MARKET NOTE: Cisco Systems (CSCO) reported better than expected results last night after the bell and that has helped the NASDAQ lead the stock market higher today, breaking out to more than 14 year highs in the process. Retail sales were weaker than expected and initial jobless claims unexpectedly spiked back above 300,000, but that's done little to deter the bulls today. We do have historical headwinds approaching as next week typically carries with it some bearish tendencies. A breakout, however, would be quite bullish. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists at this time. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: ADBE - Rising back near 74.00, would be short-term bullish to close above this level. RHT - Volume ticked higher on Wednesday as RHT cleared short-term resistance near 67.00. Mid Cap Watch List: VDSI - Tested 25.00 resistance and its falling 50 day SMA earlier today. VDSI reports earnings next week so we're going to REMOVE IT FROM OUR WATCH LIST given the recent strength. It's now up close to 20% since its test of our final entry near 21.00. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: VDSI is being removed as earnings are drawing near and we're seeing a test of short-term resistance today. There are no other deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com