PLAY > New Plays	Tuesday, May 08, 2001

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HD - Home Depot $50.01 +0.92 (+0.42)

One area of the economy that has been mostly impervious to the well publicized slowdown has been home building and general home improvement. Just ask anybody you know who is involved in home construction and they will tell you that they have a huge backlog of business. This trend clearly helps Home Depot, the nation's third largest retailer and unquestioned leader of the home improvement supply trade. Also helping Home Depot is the fact that lumber prices are starting to rise again. Rising lumber prices should help Home Depot to show greater than previously expected profits. Speaking of profits, Home Depot is scheduled to report its earnings one week from today before the market opens. Therefore, HD may be on the verge of an earnings expectation run. It might be prudent to wait for HD to trade above today's high of $50.15 before initiating a position. If HD gaps up $1.50 or more on the open, one might want to wait for a subsequent pullback before going long. HD is currently enjoying a very strong MACD that is rising nicely and is pointing towards more gains. Money Flow has also been recently outstanding. Initial support, in the event of a pullback, should probably be found at $48.25, which is right on a rising trendline.

Picked on May 8th @ $50.01 Change since picked +0.00 Stop Loss $45.88
Interactive Chart	Quote	News	First Call on HD

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