For what it's worth HD looks to be forming another smaller BULL Flag. Upside target ~$135.
Since you asked me I have to ask you... are you using this time to ADD to your short position ??
Your FIRST loss is your BEST loss.
My 0.02
Home Depot
- Thread starter vanzandt
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For what it's worth HD looks to be forming another smaller BULL Flag. Upside target ~$135.
Since you asked me I have to ask you... are you using this time to ADD to your short position ??
Your FIRST loss is your BEST loss.
My 0.02
Hey thanks for watchin my back lol.
No way am I adding more right now. I took a loss on some yesterday. 1/2
I've been studying via youtube the principles you have put forth. I have never put much stock in T/A but to ignore it is stupid on my part. I mean its not like I have never studied T/A, (I learned all the basics years ago)... but with so many folks here completely sold on it, I would be stupid to not learn more. I will say however, that all of my really big scores that have kept me in the green for years were based on my ability to find good stocks and bad stocks via Peter Lynch style fundamental analysis and playing the earnings when the time seemed right.
Oh... and speaking of TA, did you see the bounce yesterday off the low on LVS...I'm sure you did... I won't post a chart, but it was at the support level on a 5 year and one year like a textbook example. Chalk one up for T/A...
Had I been able to buy last night in the middle of the night, I would have went long lol.Eganon... just so you know this was no willy-nilly trade... I firmly believe HD is going to be one of the Dogs of the Dow next year. The ONLY way their earnings can continue to rise is through efficiencies. Wages CAN'T come down. And you can't build more of these things easily. Its a mature market. Between them and Lowes... America's covered.
HD moves with the DOW. That 300 point gain the other day blindsided me. I thought we were due for a pullback... in which case the dogs pullback more.
I still stand behind this trade. If it goes north of $135... mortgage the farm and buy 2018 puts. You can bet it all.
HD moves with the DOW. That 300 point gain the other day blindsided me. I thought we were due for a pullback... in which case the dogs pullback more.
I still stand behind this trade. If it goes north of $135... mortgage the farm and buy 2018 puts. You can bet it all.
As I mentioned, a month ago, when it was $123, it has risen every year, from Oct/Nov through December, for the past 4 or 5yrs. January, it does seem to pullback though and $135 is a crucial level. It seems to pullback, end of spring, too. If you don't hit any of those pullbacks, you're screwed, as its been a straight run from $35, on the weekly, for years. I'm with Ghostbuster Eganon69 on this one...crazy to short anything...I do have puts in the IWM as a short term hedge though.
I didn't add any.
We'll see.
Next stop $135... I agree with Superstar2317, resistance is at ~$135. Also the projection of the breakout from the BULL FLAG I wrote about at 12 noon today is $135. Add the length of the pole to the bottom right edge of the flag and get projected target. Pole was $133.19 - $128.68 = $4.51. Add $4.51 to bottom of flag at $131.1 = $135.61. Also notice on the daily charts that $135-$137 range was top of the range tested many times since April 2016.
When some environmentalists finally figure out what these big-box retailers do to the environment, there's going to be a serious war against them, and they will be damned dogs alright. Straight into the shitter. I would not hold a portfolio of big-box retail stocks at this point, now that the new generation is getting a voice. It could get REALLY ugly.
I was actually going to ask you to post a graphic of the Bull Flag but I didn't want to bother you on your days off. Thnx.
We'll see. But take this to the bank.... HD is gonna be one of next years DOW dogs.
Lots of euphoria out there... I guess this time its different. Maybe the markets are establishing a new base.
HD's next ER is in February.... so if you're right, I'm f'd for now. Its only a few thousand dollars so no biggie. Tuition is well worth it.
I still say the bitch is going down.
That being said... Feb is a long ways off.I think there is a new Sheriff in town and he is bringing his own new Head of the EPA that will likely not agree with you. Who knows,....I just trade what I see anyway.