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what the heck is happening to my "Home Depot"?
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Hi Tony,
Have you ever been in a Home Depot on Long Island? I will gladly pay twice as much if I never have to go into a Home Depot again! Anyway, I don’t follow HD but, as far as fundamentals go, my guess would be, that fear of a drop in the housing market might put pressure on earnings. Technically, there is overhead resistance in that $43-$44 range, as it has tried three times, since Nov ‘04 to break above there and failed. There is support level in the $34 area and below that in the $32 area. Back in May on those two days it sold off, it did so on very high volume, normally trades about 10 million shares daily, it traded 30 million when it took that dive. This usually means some big institutiions or Mutual funds are bailing out.
So that’s what’s happening with your “Home Depot” . However this is just my uneducated guess!