EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: ASNA Tuesday: BMO, BOBE, UNFI 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. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: SCHW - Retesting recent highs near 25.00. Looks solid, but a pullback to test the rising 20 day EMA shouldn't be ruled out. FSLR - Keeps hanging on to 20 day EMA support. FRX - Yet another breakout on massive volume. NSC - Making its next breakout. Could use more volume, but the price action is nice. ROC - Close over 70.53 is the next breakout. Volume is very strong to confirm. VMC - Nice 20 day EMA test within a bullish ascending triangle pattern. Mid Cap Watch List: ASNA - WILL BE REMOVED FROM OUR WATCH LIST AS IT REPORTS EARNINGS AFTER THE BELL TODAY. CRR - Threatening next breakout above 126.00. More volume would help. KFY - Resting on its 50 day SMA, fully unwinding its MACD to centerline support. LXK - Bouncing off 50 day SMA and recent price support. Cup still in play. LOCK - Down 5% and testing price support at 16.45. A close below could lead to a 50 day SMA test. MEI - After 3-4 weeks of solid action and breaking above neckline resistance of a bullish inverse head & shoulders pattern, MEI has lost 6.6% today and is back at neckline support. WE ARE REMOVING MEI FROM OUR WATCH LIST AS IT REPORTS EARNINGS LATER THIS WEEK. NTCT - Another successful test of 29.92 price support so far. OPEN - Downgraded earlier today, but I view the selling as an opportunity. Our next entry level is 75.50 and that 75-76 range should provide excellent support if we fall that far. UNFI - WILL BE REMOVED FROM OUR WATCH LIST AS IT REPORTS EARNINGS ON TUESDAY. VIPS - Up nearly 4 bucks from our Initial Entry. Looks good, but 88 likely to present overhead resistance if/when it gets there. Small Cap Watch List: BLDR - Significant reversal last few days not great action obviously, but it hasn't broken down so we'll continue to hold. Possible reversal today, especially as that tail on today's candle grows longer. ELY - Similar to BLDR in that the short-term action has not been good. However, it does remain in its gap support zone. We're holding. MMSI - Down more than 3% today, but it should find solid support near 15.40-15.50 if it falls that far. This comes on the heels of last week's attempt at a breakout just above 16.50. Underscores why we like to trade and encourage at least partial profit taking at key price resistance. RLD - Like so many small cap stocks, very weak today. Volume is quite light, however, and I expect to see a turn higher from either recent price support at 8.52 or the rising 20 day EMA at 8.34. TASR - Trading below its rising 20 day EMA. Would mark one of the few such occurrences over the past few months if it sticks into today's close. The 15.75-16.00 area seems like a very solid reward to risk entry point and 15.75 does represent our Final Entry into TASR. DELETIONS FROM OUR WATCH LISTS: ASNA, UNFI, MEI ASNA is being removed as it reports its quarterly results after the bell today. UNFI reports earnings tomorrow and MEI reports earnings later this week so we are removing both of them as well. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com