ScottOnStocks.com-2001 Message Board

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Strategies & Market Trends : ScottOnStocks.com-2001

COOL 0.103

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Sep 5 5:00 PM EST

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To: Smiling Bob who started this subject	1/20/2001 1:26:33 PM
From: Smiling Bob	of 231

Some comments that went out to subscribers 10/9 on KSS and HD. I was obviously off with KSS timing, but they remain two great shorts. HD has overexpanded to cannibalization. I probably have 10 locations within a 10-15 minute drive and 15 more within a 20-30 minute drive. Look for new 52 week lows by mid-February and store closings by June. KSS 56 7/8 remains one to profit from in this category. Expecting a slowdown, I had called for a short in May around 75 pre-split. Slowdown coming, and stock will eventually follow. 9.8 % same store sales growth does not equate into a 65 PE going into a recession. Analysts are realizing an economic slowdown is in the works. HD was downgraded for that reason. That company represents middle class consumer confidence. When HD drops, homeowners have cut back on adding the high margin fixtures etc that come with improvements. I've noticed a visible drop in our local HD's floor traffic. Colder weather doesn't help.

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