EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: BRCD, CRM, JEC, JKS, TSN, URBN Tuesday: BBY, CPB, DKS, HD, MDT, SKS, TJX These are just a few of the companies reporting today and tomorrow. Please check earnings dates for any stocks you own. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. Some members have expressed concern as to the number of stocks on our Watch List. Consider evaluating your own trading strategy when deciding if you want to take a position in any of our Watch List stocks. For instance, some of you may be extremely conservative. If that's the case, consider concentrating on the Large Cap list where there's likely to be fewer huge price swings. Also, consider waiting for 2nd and/or 3rd entries instead of jumping in at the current price. Alternatively, if you tend to be more aggressive, you may lean to the Small Cap and Mid Cap Watch Lists. And perhaps waiting for 2nd and 3rd entries is not appealing. Also, for those who work and don't have time to track individual stocks every day, these entry points can be used as a guide to set limit orders. Just consider keeping position sizes fairly small to ensure this works for you before committing further. We do value your opinions and look to constantly improve our service to the benefit of all. BRIEF COMMENTS ON WATCH LIST STOCKS: Large Cap Watch List: GOOG - Ominous candle for the short-term with a false breakout and a long tail to the top. A test of the recent price low and the rising 20 day EMA (perhaps 1005-1010) could be in order. ILMN - Triggered our Initial Entry at 92.00. MCK - Has been a nice trade, but the long-term negative divergence currently in play took on more meaning with today's bearish engulfing candle. NKE - Dark cloud cover candle with long-term negative divergence could spell trouble near-term. Mid Cap Watch List: AYI - Nearly hit our Target Price of 107.00 before reversing. MEI - Managed to close back above its 20 day EMA on increasing volume. NTCT - It's not far from its rising 20 day EMA, a level I'd expect to hold as support given the recent cup that formed. OPEN - Bearish engulfing candle could be a short-term issue. If there is weakness, it'll likely set up an entry opportunity. THOR - Broke out on extremely light volume on Friday and it didn't hold today. The 20 day EMA would seem like the next level of support. TIBX - 23.75 closing stop continues to hold - at least for now. Small Cap Watch List: MMSI - 16.55 represents key closing resistance and today's high hit 16.54. Then the reversal hit. Expect more consolidation between 15.40 and 16.55. DELETIONS FROM OUR WATCH LISTS: No deletions from our Watch Lists today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com