MVIS

Ahh...memories.

Gotta love Microvision, Inc. [[MVIS]] ...it's like bigfoot: a local legend, yet highly elusive. Every time you catch a glimpse, you think you're on to something, only to realize later that you've once again been suckered by the local mountain men with way too much time on their hands.

With that in mind...(first off, credit must go to RC for a comment he made on 'The Fly's tab, which first brought this to my attention)...but MVIS has literally been on fire the last few days. So much so that it apparently has broken out of its downward channel. Check it:

Interesting action, no? Volume has been 'decent', especially compared with the listless general market. This should indicate a valid breakout. But then there is that pesky orange line, which seems to connect the peaks rather well - in fact, even better than the top of the blue channel. So perhaps we're dealing with an expanding megaphone type of pattern, which has not yet been broken.

And there are those earnings, coming up on Wednesday. Perhaps we're seeing just another manipulative run based on hype.

So really, there is no trade advice contained within. (And even if there was, you shouldn't be following it.) Just thought this would be a good chance to revisit an old friend.

I might even throw a straddle at it pre-earnings, regardless of the high IV & spread, just for the fun of it.

NOTE: Apparently the new/revamped PicoP's showed well at CEATEC in Japan and they have shipped units to several 'leading' manufacturers (not that we haven't heard that one before). There was also some recent news regarding a fab agreement with Asia Optical for the standalone projectors. Looks like we might actually see these in the wild one day!