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Go Long GIL, Short SNIC

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


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

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

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