LNET Breaking Out On Earnings News Up 133% Intraday

April 23rd, 2009 at 10:48 am Posted by The Dean
Dear Students

LNET is up 133% today on earnings news (quarterly net income $0.27/share) and since earnings plays have been running wild lately… I will look to buy LNET this afternoon on big dips.

If you look at the chart below LNET has a lot of resistance around $4 and if can break through the $4 price level with conviction (i’m talking $4.30-$4.50) than this one could potential run to $5-$6.

There’s not an absurd amount of shares short (450,000 as of 3/31) but LNET is up 650% since 3/12 so they’ve got to be hurting BAD.

LNET has briefly spiked well above $4 today (HOD=$4.20) so i’m convinced this one could run to $5-$6. I’m certainly not going long right now at $4 (already up 133% today) but if it dips back to $3-$3.50 range than i’ll take a long position.

Happy Trading, The Dean



1 Student Raised Their Hand

  1. do you think this will eventually make a good short?

  2. Palmwalker on April 28th, 2009 at 11:40 PM

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