The Home Depot was in the wrong place at the wrong time during the latest recession because the trouble centered on the housing market, where the company does all of its business. Still, Home Depot is a solid bet. It has a stable financial situation, low volatility and decent performance.
The wrench in the gears is terrible growth prospects -- the company is a victim of circumstance. This is a company that will make it through the ringer due to its size and financial flexibility, but profits probably won't return in earnest until we are well out of the woods and homebuilding kicks into gear.