Seeking Apparel Answers

Would it be right to put together a basket of down-and-out apparel stocks, or are these stocks just plain history? Like the autos, which I avoided like the plague after your input, I turn it over to you readers, with full knowledge that soon we will have threads coming after stories to make things much easier for all of us.

Again, what's the point of these exercises? It's to avoid the biased research of Wall Street and to tap into the real research of Main Street.

If 10 car dealers and 15 auto execs and 100 car buyers put their thoughts together, you are going to get a better read on the autos than you would from one auto analyst talking to a couple of execs and an investor-relations guy.

Here's the ticket this time: We all know from the problems at VF Corp (VFC Quote) that the apparel industry, particularly the denim industry, is a shambles. We know from Fruit of the Loom (FTL Quote) that the T-shirt industry is also in total disarray.

At what point is it in the stocks and they have nowhere to go but up? Or are these things just going to drift into oblivion? If you and I know it, then why don't they all merge and take out the capacity that is causing all of the problems?

I am trying to figure out if it is worth it to buy a basket of Fruit of the Loom, Burlington Industries (BUR Quote) and Cone Mills (COE Quote) (three once-great companies) for a rebound. Or maybe I should buy Sara Lee (SLE Quote) -- which got rumored up by jokers last week on a phony call that Philip Morris (MO Quote) was going to buy it (and didn't I tell you I sold everything into that one!) -- betting that its apparel division might bottom if these other guys cease to be a factor?

Let me know, and I will let you know.

One day, they promise me at TheStreet.com, we will all know simultaneously through the wonders of technology.

Random musings: Ringing the register in Nortel (NT Quote). It is now up 2 1/2 from my basis, and I'm thrilled. I will revisit it lower. Thanks to those who urged me to stick with it -- you were right. Boos to those who urged me to bail -- you were short, and you got crushed.