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Cramer: Home Depot Will Tell the True Housing Recovery Story

TheStreet's Jim Cramer says Home Depot's profit report will tell us whether there is a trend in the housing recovery or not. Cramer says there has been conflicting data out of other companies which recently reported results. Macy's recently said that home goods has not been strong but J.C. Penney said home goods were strong. Add to that, mortgage rates which have recently come back down. Cramer says he is a believer in Home Depot CEO Frank Blake and believes the company's new focus on e-commerce is working out well. Heading into the quarter, Cramer says he would rather be long the stock than short, and he recommends buying half of your position prior to the earnings report.