Go Long GIL, Short SNIC

GIL breaking out above resistance; SNIC offering great entry for short position

   

Go Long GIL, Short SNIC

Today was another disappointment for the bears, as the bulls managed to rally off the lows. It wasn’t until the end of the trading day that we finally saw some selling creep back in.

We finished the day with the market unable to break out in either direction. However, the all important 1,173 level on the S&P 500 was tested again and held.

Long: Gildan Activewear Inc. (NYSE: GIL) at $30.06

gil113010 Go Long GIL, Short SNIC

Short: Sonic Solutions (NASDAQ: SNIC) at $9.93

snic113010 Go Long GIL, Short SNIC

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Article printed from InvestorPlace Media, http://investorplace.com/2010/11/go-long-gil-short-snic/.

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