Home Depot Earnings Report Beats Expectations HD

Home Depot earnings beat despite wet start to spring

Home Depot on Tuesday reported fiscal first-quarter earnings that beat analysts’ expectations, as shoppers spent more in its stores, despite a damp start to the spring in much of the U.S.

Home Depot shares were up less than a percent in premarket trade.

“We were pleased with the underlying performance of the core business despite unfavorable weather in February and significant deflation in lumber prices compared to a year ago,” Home Depot CEO and president Craig Menear said in a company release.

cnbc.com/2019/05/21/home-depot-earnings

Home Depot same-store sales misses on cold weather, weak lumber prices

(Reuters) – Home Depot Inc reported its slowest growth in quarterly same-store sales in at least three years on Tuesday and missed Wall Street estimates, as the home improvement chain was hurt by poor weather in February and a steep fall in lumber prices.

Unusually cold and wet weather delayed the onset of spring season and kept many Americans indoors, which according to analysts hurt first-quarter sales of Home Depot’s gardening-related products.

reuters.com/home-depot-earnings results

U.S. stock futures hint at rebound as investors watch trade headlines

U.S. stock futures pointed higher for Tuesday, as cautiously optimistic investors appeared set to shake off losses linked to trade tensions that kicked off the week.

What’s driving the stock market?

Some calm appeared to be returning to markets, after Monday’s technology-led losses. Shares of chip makers bore the brunt of declines after technology companies in the U.S. and elsewhere said they have started to comply with the White House’s ban on China’s Huawei Technologies Inc.

marketwatch.com/us-stock-futures5.21.19

Behind the Scenes Meeting 

Yesterday I had a long conversation with one of my friends who is also a veteran trader.

After the call I realized we spoke mostly about scenarios. Preparing a list of “If-then” scenarios. Not once did we talk about entries or making money. The entire discussion focused on what we would do if certain situations unfolded.

We also discussed the odds and probability of profit for each of those scenarios. We reviewed trade management ideas, risk and share size.

Not once did we talk about entries.

This is in stark contrast to most new traders in my coaching program. All they want to discuss is where to get in and how much they could have earned.

Entries don't matter if the idea is poor. If you want to grow your account, and do so over a long period of time…focus on building arguments for great ideas.

How much you earn is a function of the quality of your ideas, not the price you got in.

If you need some help, watch this video.

Pete