Economists attributed much of the decline in January to the end of the tax credit. They noted that demand for core capital goods hit an all-time high in December as most companies raced to qualify for the tax credit. Many said the underlying trend remained strong and predicted further business investment in the coming months.
Sorry HD was up on your "bad" news, which was really a statistical aberration caused by tax credits. Hope you got out quick. Maybe you should rethink shorting Blue Chips for awhile, eh? Go long tomorrow around $47 and make some of your money back.
Going long at $ 47. seems "crazy", but that's what the trade is here. HD is programmed to reach $ 50. - so it will reach it. Ben and GS don't push a stock like this to mid $ 40.'s so it will fail ... HD is too big to fail. Real econ data is pointless. Only computers doing the trading here. Don't fight Ben or GS. Yes, it really can be this easy. HD to $ 50. I know.