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Strategies & Market Trends : Value Investing
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To: Wallace Rivers who wrote (24309)7/11/2006 2:06:09 PM
From: E_K_S  Read Replies (3) of 78748
 
Hi Wallace - I am wondering if Home Depot is at this stage yet (it has hit a new yearly low)? I have found that when good value companies hit five year lows like TLB, they either were way over sold or go bankrupt like KM.

schaeffersresearch.com

From the article:...Home Depot : Blue-chip retailer Home Depot (HD: View sentiment for HDsentiment, chart, options) continues to suffer from technical woes. The shares have declined under their 10-day and 20-day moving averages since March 28, shedding more than 19 percent. What's more, the security has logged only a handful of closes above both of these trendlines during this time period. The stock caught my eye today because it has breached what should have been strong support at the 35 level. Not only has this region buoyed the equity on a number of occasions since October 2003, but it is also the site of peak put open interest in the July series. This breakdown could result in some sharp losses for the shares as they search for the next layer of support..."

I have started a small new position in HD but I have the feeling that HD may go much lower because investors have not thrown in the towel yet (ie. the psychological effect). I will buy more shares below $30 if the opportunity becomes available.
EKS
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