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Non-Tech : Home Depot (HD) -- Ignore unavailable to you. Want to Upgrade?

To: Brian Baxter who wrote (942)	1/19/2001 1:48:02 PM
From: Ted The Technician	Read Replies (1) \| Respond to of 1169

Buy now? It's a tough call. It's hard to justify buying this stock at $42 when HD's upcoming two quarters' earnings are likely to be around $0.20 each. There should be downward earnings revisions in the upcoming days. Prudential already downgraded it to HOLD (i.e., sell) a couple of days ago. California is disrupting HD's business by cutting its power. California's economy should also be slowing down because of the power shortage situation. Money from refinancing won't flow into housing improvements for nine months. The ziz-zag upward stock price graph is a technically weak formation. The risks outweigh the rewards at this point.