EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: COV, CTB, LEAP, NTT Monday: BID, RAX, SLW These are just a few of the companies reporting today and Monday. Please check earnings dates for any stocks you own. ADDITIONS TO WATCH LISTS: There are three additions to the Mid Cap Watch List, as follows: CRR DWRE AWAY Keep in mind that we have adjusted our trading strategies to allow for an initial entry at the current price. 2nd and 3rd entries will be provided on the annotated charts that will be provided this evening. If you prefer keeping risks low, even if it means missing out on upside, consider waiting for the later entries instead of taking an initial position at current prices. Also remember that stocks will continually be added throughout earnings season. Therefore, review the stocks identified and consider owning those that are most appealing to you. Don't feel compelled to buy every stock added. BRIEF COMMENTS ON WATCH LIST STOCKS: Large Cap Watch List: A - Bouncing off 50 support after our final entry triggered on Thursday. SCHW - Big volume today as it attempts to make its next breakout. Our initial target here is 25.00. FSLR - Correction: FSLR triggered our 2nd entry at 59.14 on Thursday. (I indicated that our 2nd entry was at 56.40, but that's our 3rd entry). HAS - One of the few Watch List stocks lower today. I still love the volume trends here so I'd welcome a bit more selling. NSC - Going to adjust this one to move our 2nd entry up to the rising 20 day EMA. Our 3rd entry will then become 82.00 (instead of 81.00). NUS - Nice advance today after triggering our initial entry at 111 yesterday. CRM - Big reversal today. This one may have another 52.00-53.00 test of support upcoming. VMC - Triggered our 2nd entry at 55.00 and is now rebounding. Mid Cap Watch List: AYI - Nice bounce off of recent price support at 99.39. Our short-term target is 103.50-104.00 for those wishing to take profits if AYI reaches this level. AZPN - Down 2.7%, quickly approaching our 2nd entry at 36.35. BRCD - Trapped in a short-term trading range from 7.75-8.36. I expect a breakout, but earnings will be out soon. Consider profit taking in the upper end of this range unless you plan to hold into earnings. CIEN - Bouncing off key gap support at 22.35 so far. Could use more volume and a close back over 23.37 to encourage more technical buyers. KFY - Rebounding off 23.00 price support. There aren't many stocks with better volume trends than KFY. LXK - Closed beneath its rising 20 day EMA on Thursday, but is back above this key moving average at last check. MEI - One of the most volatile stocks on our Watch List for sure. After a couple of big down days, MEI is 5% higher today. SNX - Threatening breakout, but on very light volume. Up 3.5% today. I'd consider taking profits if in it. THOR - Nearly triggered our final entry at 40.25 earlier today before rebounding. TIBX - Hasn't broken down, but one of the worst performing Watch List stocks no doubt. There is one positive, however. Volume during the selling has been relatively light. UNFI - Bouncing on light volume after triggering 2nd entry on Thursday at 69.00. VRNT - Light volume triggered our 2nd and final entry at 35.50. It's rebounding thus far, but we'll maintain a closing stop beneeath 35.00. Small Cap Watch List: BLDR - Flat today, bouncing after touching its rising 20 day EMA at the open. ELY - Seems headed for a key test of gap support at 8.11. LIOX - Accumulation continues. It is incredibly overbought, however, so I'd wait on a period of selling before considering entry or re- entry. MMSI - Nice recovery, but light volume after triggering our 2nd entry at 15.75. NTRI - Down over 5% today, but still has a ways to fall to our 2nd entry at 16.75. SIGM - Has hit our only entry at 5.20. Will it make a pre-earnings run? TASR - Was within a nickel of our final entry at 15.75 before it reversed 5% off the low. Initial resistance should be felt at 18.00 so if volume is light, short-term traders could take profits there. DELETIONS FROM OUR WATCH LISTS: There are no deletions from our Watch Lists today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com