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TWELVE o’clock TUESDAY – Stock Market Report

by Robert Holman | The | August 25, 2020

I would like you to know the thinking behind my sale of Lowes.

Last week, I sold our position in Lowe’s for an 80%+ gain. Home Depot announced earnings on 8/18 before the market opened, the day before Lowes. Although HD’s earnings were very good, the market was unreceptive, and the stock sold off more than $3.24. So, wanting to not give back our LOW gain to the market, I sold LOW near the close on 8/18 thinking that the market would behave in a similar fashion when LOW announced earnings. LOW was up $0.37 when it announced earnings, and HD declined $2.14 more on the 19th. So, it looked like a great decision.

However, both stocks are continuing higher, so we have missed out on some gains. The good news is the 80%+ gain. More good news is that the market always presents new opportunities. We will move into another stock soon that will give us nice upside potential.

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Opinions voiced in this post are for general information only and are not intended to provide specific advice or recommendations for any individual, without complete knowledge of that individual’s total financial profile. No strategy assures success or protects against loss. Past performance does not guarantee future results.

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