Housing Will Likely Keep Outperforming
Just as my expectations for coal were not great on a re-election, the exact opposite is true for housing. I expect housing to maintain its outperformance under the Obama administration; however, I expect it to do it in spurts. During times of news flow, like earnings, the potential for a sell-the-news reaction certainly exits. Home Depot (HD) and its 47.5% year-to-date gain appear to be setup for just that potential. There is plenty of put buying in HD today, although I suspect a good chunk of that is coming from longs who are simply looking to hedge their current holdings.
Home Depot (HD) -- Daily Source: StockCharts.com View Chart » ...291 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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