Overbought, no room to move up.
by bullaman•Nov 17, 2011 2:04 PM.
nutz4stocks•Feb 21, 2012 7:24 AM
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I would take the other side of your trade. HD just broke to a new 52 week high in premarket. It's been on a nice run, and 52 week high's ususally come in groups, not one at a time. Add that to all the year end..."strong stocks get stronger..weak stocks get weaker" senario, and ANYTHING even remotely positive from Europe & you're gonna be in the 40's soon enough. The SPY is already nicely above it's 50DMA and it's running.
Homie is my main housing recovery play. I figure it will turn before most everything else in housing. If people are stuck in there current home for a couple more years, just like not being able to afford a new car, they will fix the old one. Look at how the auto parts DIY market has done. Plus it pays ya more than the US T-bill rate to wait.
Bump.....Now after another new set of highs we have the 50's in our sights. What do you think? Less
Now that we've already doubled....:) :)O :) :) :) :) :) :) :) :) :) :) P :) :) :) :) :) :) :) P)