ORLANDO, Fla. -- The latest current projected path of movement from the National Hurricane Center pushes Tropical Storm Katrina into South Florida Thursday, possibly as a Category 1 Hurricane.

At 5 p.m., the center of Katrina was located near latitude 25.6 and longitude 77.2 west.

"The computer models are basically coming into agreement that this storm will head into South Florida, but after that, all bets are off," Local 6 meteorologist Larry Mowry said. "Some of them curve it off to the north and others take it out to the central part of the Gulf."

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Forecasters believe the storm will eventually turn north.

"Will it turn north and bring us a lot of rain in Central Florida or will the heavy rain hit the Panhandle?" Mowry said. "That is the big question. There is a lot of uncertainty with this forecasted track and that's illustrated by how large the forecasted cone of movement is."

The storm will likely make landfall somewhere near Ft. Lauderdale, Fla., according to Mowry.

Katrina is expected to roar through Florida and then regain strength in the Gulf of Mexico, possibly moving up to Category 1 strength as it moves toward the Panhandle.

A 200-mile stretch of Florida's east coast from the Seven Mile Bridge in the Keys north to Vero Beach was under a tropical storm watch, meaning tropical storm conditions were likely by late Thursday.

Eric Blake, a hurricane center meteorologist, said Floridians in the watch area should consider putting up hurricane shutters, particularly in coastal and exposed areas. He said all residents should stock up on hurricanes supplies such as water, batteries and generator fuel.

"It's time for South Florida to start taking precautions," he said.

Workers are lowering levels in the area's 2,000-mile network of drainage canals, which empty into the ocean, said Randy Smith, spokesman for the South Florida Water Management District. The storm runoff system is still above normal water levels from heavy rains that started with last year's four hurricanes, although it should be able to contain Katrina's rains, he said.

Sales at Home Depot Inc. stores are picking up as people become aware of the storm, spokesman Don Harrison said. But stores and distribution centers are stocked with hurricane supplies.

"We stay ready this time of year. Because we have to. Moving vast quantities of product around is not something you do instantaneously," he said.

Because of Katrina, Gov. Jeb Bush canceled a business trip to Peru that was to begin later Wednesday and planned to return to Florida from Virginia, where he was attending a hearing on military base realignment.

The Florida Panhandle was hit by Tropical Storm Cindy and Hurricane Dennis earlier in the Atlantic hurricane season, which began June 1. The four hurricanes that hit the state last year caused $23 billion in insured wind damage across the country. Actual damage was about double that, experts said.

In an average year, only a few tropical storms develop by this time in the Atlantic, Caribbean and Gulf of Mexico. The Atlantic hurricane season ends Nov. 30.

Watch Local 6 Weather with Tom Sorrells, Michele Cimino and Larry Mowry for more on this story.