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Wednesday, October 11, 2006

October 11th - HBI

Running a little behind today, but Cramer only had one stock that was in a good price range for shorting and that was Hanesbrands Inc. (HBI)

Closing Price: $22.65
After Hours High: $23.24
Percent Increase at High: 2.6%
Price Level Off Point: $23.24
Percent Increase at Level Off Point: 2.6%
Trades on NYSE
Sector: Consumer Goods
Short %: N/A
Days to Cover: N/A
% Held By Insiders: N/A
% Held By Institutions: N/A

Since this is a recent spinoff there isn't much data to go by besides the fact that the after hours surge has put the stock to within a few cents of a new 52-week/all time high. The price after hours closed at the high price so it did show strength. Tough one to call with so little to go by, but if this is like most picks we should see a high shortly after the opening bell and have a quick drop but I could see $23.00 being a lower support level in my opinion.

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