Market has been weak last couple of days and is presenting a buying opportunity for HD.
Events to keep in mind:
The Home Depot®, the world's largest home improvement retailer, announced that Craig Menear, executive vice president, Merchandising, will present at the William Blair & Company 28th Annual Growth Stock Conference in Chicago, IL. The presentation will begin at 11:50 a.m. CT on June 18, 2008.
http://biz.yahoo.com/prnews/080617/cltu087.html?.v=101
There was more insider buying was reported yesterday- 250,000 shares @ 27.23.
http://www.insider-monitor.com/reports/insider-buys-sortby-value-20080617.html
HD is trading now almost a dollar below his basis.
For downside protection, I recommend SELLING the 27.50 Nov Calls for about $2.00. If HD breaks the 52 week low, 23.77, get out.
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