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A Better Chart Of This PERFECT Breakout [PICTURE]

Posted by Timothy Sykes on Sun 10th of Jan, 2010 12:00:49 PM

Yesterday I wrote this blog post detailing why I bought 4,000 shares of Luna Innovations Inc. (LUNA) at $3.36…

Now if you had my PennyStocking Part Deux DVD package or read my book An American Hedge Fund (where I bought ISCO late Friday due to weekend catalyst…making $123,000…it’s Chapter 6 of my book, learn from my experiences people!) or you could signup to become a TIMalerts subscriber, you would’ve seen the same thing I did.

Thanks to ReaperTrades for posting this infinitely better chart displaying how I bought RIGHT after it had broken a key multi-month resistance level of $3.29 (and not coincidentally an intraday breakout above the morning spike highs) making this the most picture perfect breakout we’ve seen in a while…and of course there are this coming week’s catalysts which should serve to help squeeze nervous and research-lacking short sellers and provide me with a predictable profit

Look at this breakout and understand last time it had a cup & handle breakout like this, the stock tripled…TIMalert subscribers know my expectations for tomorrow, if you’re reading this, you’ve probably missed yet another great play, shame on you…I guess I have to push my instructional DVD packages harder:

luna 300x181 A Better Chart Of This PERFECT Breakout [PICTURE]

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  • alex
    Nice trade but i think all the news is priced in for now. We're still talking about a company that has never been able to turn a profit. The contract will probably be no more lucrative than it was before, they're just lucky to get it renewed. I wouldn't short it quite yet but with another big up day it would have good short potential.
  • alex, forget about making $, some of the biggest medical companies in the world dont make any $...its about technology/drug potential...LUNA was priced for dead, now this contract, mondays conference call, bankruptcy hearing and nasdaq hearing all this week, it might actually get a real valuation...remember VRMLQ was the top performer of 2009, emergining from bankruptcy with a big potential product...i'll be out of LUNA monday because its already exceeded my target, but thats just to lock it in, its not a potential short as the momentum is strong and afterhours buying was heavy
  • alex
    VRMLQ was a one in a thousand stock performance-wise. Pretty slim chances that LUNA does the same in 2010 that VRMLQ did in 09. Besides, there were some good opportunities to make $ shorting VRMLQ when it was short term overbought. Same will be the case for LUNA.
  • VRMLQ was a good short when the momentum faded, but early short selling helped spike it more...some were shorting the first up day in LUNA now theyre getting squeezed
  • alex
    Nice conference call "catalyst". Like i said, LUNA is a POS. LOL! Good thing you sold cause your analysis was wrong.
  • call was plain bad, but i NEVEr stick around for the news...the runup before the news was predictable...also did u see they issued shares based on friday's close...i think i just piggybacked a company determined to squeeze their stock in order not to dilute themselves so bad LOL
  • FeedTheBull
    Is there a time frame that you look at more than another while scanning for a breakout? Everyone always says, watch multiple timeframes, and in this case it was at their previous 52wk high, but what about the 2 year chart, when does that come into play (or does it)? Is a 6 month or a year a better indicator of short term breakouts or does it depend on where the price is compared to the last resistance?
  • see my pennystocking part deux dvd...the more timeframes its breaks the better, the more trders watching various time period get alets and become buyers
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