05-20-2020, 11:00 AM
(05-20-2020, 10:37 AM)stockguru Wrote: Bought LOW. I didn't buy at at the open. Got in under $117. Good buy or am I chasing it?
BMY put a limit order in at $60
LOW- You're chasing it a little. I follow HD and LOW pretty close. That was a rocking quarter for LOW. At first glance it appears they outperformed HD for the first time in years. This next quarter is "Christmas" for home improvement retailers. It gets a little sketchy after that IMO. Locked down bored people did a lot of projects. The Pros are getting busy now. My region crushed sales while we had no competition for dollars from small biz (like 50% over weekly sales goals), and people spending stimulus checks not realizing some of them are about to be laid off longer. HD showered employees with "hazard pay" and paid time off for old employees. It killed our margins. You know my crystal ball doesn't work all the time but I do have a good idea what is going on in home improvement retail because I spend considerable time there. If you can make a quick 10% I'd be inclined to cash out. I think the last half of this year is a little shaky. That said LOW is a good company and CEO Marvin Ellison came from HD. He knows our tricks and he is going to close the gap IMO. LOW will be fine longterm
BMY- I own a ton already. I'll buy more if it revisits 60. It has more upside than most pharma IMO.