The stock of Stanley Works (SWK), which I first discussed here on February 10, 2009, at $32.48, continues to power higher, dusting $70 psychological resistance and testing $77 before a recent pullback. If you haven't already, now may be a good time to consider taking some profits off the table, if you're in near $32.

However, those investors who can tolerate the risk can maintain their full position in SWK, as more upside is likely ahead.

Stanley Works (SWK) shares, first discussed here on February 10, 2009, at a price of $32.48, have put both $60 and $70 psychological resistance in the rear-view mirror in the past three months, and now may be a good time to consider taking some profits off the table, if you're in near $32.

However, those investors who can tolerate the risk can maintain their full position in SWK, as more upside is likely ahead.

With Stanley's March 2010 acquisition of Black & Decker complete, look for 2011 sales to surge 20% to 22%, including organic growth of about 6% to 9%. In 2012, revenue should rise 7% to 10%.

As forecast in July, Stanley Works' (SWK) shares, first discussed here on February 10, 2009 at a price of $32.48, found support at/near $50, and have since retaken the $60 mark. However, if you missed the summer re-entry point, fret not: there's more upside ahead for Stanley.

As a result of Stanley's acquisition of Black & Decker in March, look for 2010 sales to rise more than 100%, followed by a 10-15% in 2011.

Moreover, rare is the day you will find a steadier performer than New Britain, Conn.-based Stanley Works. Tool and hardware manufacturer Stanley is sort of a microcosm of the industrial ascension of the United States. Stanley is a low-profile, highly productive manufacturer of tools and hardware for consumer and industrial use: hammers, screwdrivers, saws, pliers, wood planes and measuring tape, etc. The craftsmanship and durability of it products is renowned.

Since I first discussed Stanley Works (SWK) here on February 10, 2009, at a price of $32.48, the shares have pulled-back roughly in-sync with the Dow's recent retreat. But they have since found support near $50, and I obviously still like the shares. Here's why.

Look for experienced, battle-tested Stanley Works to post a nearly 100% revenue increase in 2010, mostly on the strength of its Black & Decker acquisition, but also as the tool sector benefits from strong growth in emerging markets. A factor that's up in the air? The status of the U.S. economic expansion in the second half of 2010.

As the saying goes, don't overdo it. Investors who bought Stanley Works (SWK), which I first recommended on February 10, 2009, at a price of $32.48, should probably pay heed to that advice, given that the stock has soared in about a year to more than $60.

It's not unreasonable for those who bought in February 2009 to take some profits off the table. The current price amounts to about an 85% gain for those who bought at $32.48 and in this market, that isn't chopped liver.

Experienced, prudent, and relentlessly profitable Stanley Works (SWK) has weathered the U.S./global recession in fine shape and is now poised to capitalize on the economic recovery, hence it goes without saying that I'm reiterating my buy rating for the company's shares, first recommended on February 10, 2009, at a price of $32.88. If you bought SWK in February 2009, you're up a smart 60%.

Simply, rare is the day you will find a steadier performer than New Britain, Conn.-based SWK. Tool and hardware manufacturer Stanley is sort of a microcosm of the industrial ascension of United States. Stanley is a low-profile, highly productive manufacturer of tools and hardware for consumer and industrial use: hammers, screwdrivers, saws, pliers, wood planes and measuring tape, etc. The craftsmanship and durability of it products is renowned.

A double win: I'm Reiterating by Buy rating for New Britain,Conn.-based tool maker Stanley Works (NYSE: SWK) after the company announced Monday it will buy Black & Decker Corp. (NYSE: BDK) for $4.5 billion in an all-stock deal.

Stanley, first recommended on February 10, 2009 at a price of $32.88, sees the deal as $1 accretive to earnings per share within three years.

Meanwhile, shareholders of Black & Decker, first recommended on April 17, 2009 at a price of $33.53, will receive a 22.1% premium to BDK's closing price as of Friday, October 30, 2009 of $47.22, or about $57.65 per share. Hence, if you bought BDK in April, that represents a 71.9% gain for owning the stock about six months. Not bad.

I'm reiterating my Buy rating for Stanley Works (NYSE: SWK), first recommended on February 10, 2009 at a price of $32.88. If you bought SWK in February, you're up more than 39%.

Institutional investors (IIs) have bid-up Stanley's shares practically all year, on likely better-than-expected emerging market GDP growth and a firming U.S. economy.

I'm reiterating my Buy rating for Stanley Works (NYSE: SWK), first recommended on February 10, 2009, at a price of $32.88.

New Britain, Conn.-based Stanley manufactures tools for professional, industrial, and consumer use, and has built a business model that's been successful for more than a hundred years. A security solutions unit accounts for about 30% of revenue, but the key revenue driver here is tools: hammers, screwdrivers, sockets, saws, and measuring tape, among other products.

Can one make the case for easing back into the U.S. stock market?

The U.S. recession continues, and it's likely to continue through at least Q2, and probably through Q3. Meanwhile, credit market conditions, while they've improved since last fall, they're still constrained.

Further, the U.S. Treasury Secretary Timothy Geithner announced Tuesday that the United States government will commit up to an additional $2 trillion to encourage new lending and remove toxic assets in an effort to end the credit crunch.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Analogic Corp. (NASDAQ: ALOG) Q1 earnings plunged well below expectations due to costs.
• CKE Restaurants Inc. (NYSE: CKR) solid Q3 earnings were in line with analysts expectations.
• Costco Wholesale Corp. (NASDAQ: COST) beat Q1 expectations and same-stores sales increased.
• Dow Chemical Co. (NYSE: DOW) lowered its guidance and announced layoffs and factory closings.
• Eastman Kodak Co. (NYSE: EK) withdrew its guidance due in part to weak consumer spending.
• Electronic Arts Inc. (NASDAQ: ERTS) lowered its outlook due to weaker-than-expected holiday sales.
• Eli Lilly & Co. (NYSE: LLY) offered a full-year profit forecast that missed analysts' expectations.
• FedEx Corp. (NYSE: FDX) lowered its earnings guidance and announced price increases.
• FuelCell Energy Inc. (NASDAQ: FCEL) reported a deeper-than-expected loss but topped sales estimates.
• H&R Block Inc. (NYSE: HRB) Q2 net loss was in line with expectations but revenue fell short.
• Hartford Financial Services Group (NYSE: HIG) raised its full-year forecast, doubling the share price.
• Hooker Furniture Corp. (NASDAQ: HOFT) shares sold off following disappointing Q3 results and outlook.
• Krispy Kreme Doughnuts Inc. (NYSE: KKD) reported a deeper-than-expected Q3 loss on increased costs.

Many investors know about the key metrics that provide clues regarding the U.S. economy's health, and where it's likely to head, near-term.

Retail sales, housing starts, UPS (NYSE: UPS) / Fed Ex (NYSE: FDX) deliveries and, of course, those infamous corrugated box orders, all provide clues about demand at the retail and wholesale levels, and are positively correlated with increases in U.S. GDP.

Then there are those lower-profile metrics that experienced investors monitor -- and new investors are highly recommended to do so, as well. One such metric: Stanley Works (NYSE: SWK) and on Thursday the hardware and tool giant provided yet another bearish data point for the U.S economy and stock market.

New Britain, Conn.-based Stanley lowered 2008 full-year earnings guidance to $3.30-$3.40 per share, down about 35-45 cents from previous guidance, and also announced it would lay-off 2,000 employees, or about 10% of its work force, citing rapidly deteriorating business conditions. Further, Stanley said "economic conditions remain too variable to warrant issuing formal 2009 guidance at this time."

The Reuters 2008 EPS consensus estimate for Stanley is $4.30. Stanley's shares Thursday closed down $2.02 to $32.30.