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To: John Graybill who wrote (116350)	8/9/2001 3:22:47 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

nice anecdote, but doesn't really tell me anything about what people are doing en masse -- even the shortage of copper tubing doesn't tell me anything practical. What I do know is this: This is seasonally a time period in which folks do both building and home improvement. Folks have taken large amounts of equity out of their houses -- some did it to play the markets a little while back. Maybe some have done the same thing to improve their house (the reasoning isn't all bad if housing prices were only going up -- i.e. increases the attractiveness/value) Sales are growth for HD is slowing in 2 ways -- 1) Their expansion in the US is mature 2) Sales on the whole is slowing 3) Early indications are new construction will be slowing as well -- it isn't just home improvement. Contractors buy some of their stuff here, too I'll stick with this info over your anecdote and what I believe to be an absurd valuation in my assessment about how they can perform going forward -- and stay SHORT!! It is simply a matter of time ...