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Strategies & Market Trends : Classic TA Workplace

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To: oldirtybastard who wrote (27401)1/10/2002 12:12:52 PM
From: Bocor  Read Replies (1) of 209892
 
Buy Home Depot, Lowe's aggressively: ML (HD, LOW) Analyst Peter Caruso at Merrill Lynch said a recent show of strength my Circuit City (CC) and Best Buy (BBY) is an indication that benefits are materializing from a mortgage refinancing wealth effect cycle. Caruso believes Home Depot (HD) and Lowe's (LOW) are the companies most-leveraged to this cycle. He recommended investors begin "aggressively buying Home Depot and Lowe's before further evidence of this powerful spending cycle develops." Home Depot, a component of the Dow Industrials s ($INDU) is gaining 48 cents to $50.74 and Lowe's is adding 49 cents to $43.64.
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