Tuesday, October 10, 2006

Trade Ideas: GIL

Another holidays worth of trading??? The Trade Ideas scan was again limp with its output; 8 different picks covered a time span of 11 minutes. Some tired buying out there after last week's large cap euphoria.

Top of the Trade Ideas pick pile (by a long way), at 29 appearances, was Gildan Activeware (GIL). The stock broke from a bullish flag on a MACD trigger 'buy' signal. The projected target of $55.41 is derived from the June/July double bottom. Stops go on a loss of flag lows around $47.50.

Gildan Activewear, Inc. engages in the manufacture and marketing of basic activewear for sale principally into the wholesale imprinted activewear market in Canada, the United States, Europe, and Asia/Pacific. The company manufactures and sells 100% cotton t-shirts and 50% cotton/50% polyester t-shirts, placket collar sport shirts, and fleece products in various weights, sizes, colors, and styles. It also sells its products as ‘blanks’, which are decorated with designs and logos for sale to end users.

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