9:00pm (EST)
Home Depot (HD, $22.70, down $0.63) and Lowe’s (LOW, $19.02, down $0.61) lost 3% after a report showed first quarter mortgage delinquencies jumped to 12%. That means more than one in 10 people are behind on their house payments.
Not only that, home owners with good credit are starting to feel the pinch. In fact, they now make up the largest share of foreclosures as job losses and pay cuts continue to cut like a knife.
All of this could mean more foreclosures and add to the already growing housing inventory which in turn depresses building activity. I had mentioned the sector a couple of weeks ago and said now was not the time to go chasing.
That would include Lowe’s and Home Depot. I would love to see Lowe’s fall back to $17 which is support and if it falls below that level it could test its March low of $13. Home Depot could get interesting at $20. They got a pop on good earnings but nobody is buying the higher priced items. We will have to see how they trade and it’s possible they may not even get to our “alert” prices. If they do, we can then decide if we should go long or short.
Which brings me to another point. I wanted to give everybody some more details on our new OptionsMentoring.com trading service. It is going to be a monthly service that allows you full access to our exclusive menbers area. Here you will find archived training sessions that you can view anytime at your leisure. Plus, we will be offering live training classes three days a week. You will also have unlimited email and phone support as well as our trade picks.
Folks, this is an incredible deal because you will learn so much about options that will make you a better trader. And if you are brand new to options trading, this program is a must! You will learn credit spreads, directional trading, chart reading and much more. The response we have received has been great and I encourage those of you who haven’t emailed me to do so. I want those of you who follow me to be the first to get in.
Rick Rouse
Rick@OptionsMentoring.com
Tags: blog options, Home Depot, Lowe's, option trading service, options blog
This entry was posted
on Thursday, May 28th, 2009 at 9:01 PM and is filed under Company Commentary, Earnings, Market Analysis, Option Trades, Watch Lists.
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Home Depot and Lowe's Trade Lower/ Trading Service Update
9:00pm (EST)
Home Depot (HD, $22.70, down $0.63) and Lowe’s (LOW, $19.02, down $0.61) lost 3% after a report showed first quarter mortgage delinquencies jumped to 12%. That means more than one in 10 people are behind on their house payments.
Not only that, home owners with good credit are starting to feel the pinch. In fact, they now make up the largest share of foreclosures as job losses and pay cuts continue to cut like a knife.
All of this could mean more foreclosures and add to the already growing housing inventory which in turn depresses building activity. I had mentioned the sector a couple of weeks ago and said now was not the time to go chasing.
That would include Lowe’s and Home Depot. I would love to see Lowe’s fall back to $17 which is support and if it falls below that level it could test its March low of $13. Home Depot could get interesting at $20. They got a pop on good earnings but nobody is buying the higher priced items. We will have to see how they trade and it’s possible they may not even get to our “alert” prices. If they do, we can then decide if we should go long or short.
Which brings me to another point. I wanted to give everybody some more details on our new OptionsMentoring.com trading service. It is going to be a monthly service that allows you full access to our exclusive menbers area. Here you will find archived training sessions that you can view anytime at your leisure. Plus, we will be offering live training classes three days a week. You will also have unlimited email and phone support as well as our trade picks.
Folks, this is an incredible deal because you will learn so much about options that will make you a better trader. And if you are brand new to options trading, this program is a must! You will learn credit spreads, directional trading, chart reading and much more. The response we have received has been great and I encourage those of you who haven’t emailed me to do so. I want those of you who follow me to be the first to get in.
Rick Rouse
Rick@OptionsMentoring.com
Tags: blog options, Home Depot, Lowe's, option trading service, options blog
This entry was posted on Thursday, May 28th, 2009 at 9:01 PM and is filed under Company Commentary, Earnings, Market Analysis, Option Trades, Watch Lists. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.