Home Depot: Coverage Initiated
1 million could be left homeless if Ms. Katrina does what experts say she's going to do.Hurricane Katrina, which could become the costliest hurricane in U.S. history, may cripple U.S. fuel supplies.
The Katrina I experienced was wimpy compared to what the poor people in LA are in for.
We're talking 150 mph winds.
I was at home reading by a candlelight; they're cooped up in the SuperDome.
If the storm misses New Orleans, oil prices won't soar to $75, which we projected they would if Louisianna got clobbered.
About one-sixth of the U.S. oil supply comes through facilities near New Orleans.
According to catastrophe-modeling firm EQECAT, damage estimates for the storm totaled $15 to $30 billion, threatening to make it more expensive than 1992's Hurricane Andrew, which caused $21 billion in damage and killed more than 40 people in South Florida.
I also survived Andrew -- this sort of trauma makes me money.
Let me explain.
Taking a look at the family portfolio, I'm glad we sold out of our AIG position.
The financial-services sector is taking a hit as big payouts from insurance firms for storm damage are expected.
We have a decent position in Home Depot -- Catablast! Media Group is initiating coverage on HD with a Buy rating with Katrina's havoc as the event driver & catalyst.
You could easily pick up 2 or 3 points on HD as a trade.
Simply put, the Big Easy has to rebuild -- Home Depot is where you want to be.
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