That is great, just do not expect it to jump up to the mid forties though. The growth spurt is over. The earnings are good, but everyone sees the fact this is now a more blue chip stock, no major jumps, but solid earnings, like GE etc. People are bailing looking for the pot of gold that may be out there. Sad thing is all of the employees, both present and former, who bought in at a higher point than the stock is at now. I am one of these people, bailed on most of it before the latest drop though. Will hold onto it for the earnings, but do not recommend holding your breathe waiting for a big spike! IMO!
I agree there won't be a BIG spike on HD at least for a while, but the downside is limited. Its a great store and thy continue to expand globally. Home improvement will always be "in" and is not a fad but a requirement now a days. HD's earnings are still robust and that is why the stock is holding on even with 200 point drops. I see limited downside to a wrose case $34 and up from there back to 40.