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VoSI VooDoo(TM) Report - Giant Steps Are What You Take

The VoSI VooDoo Report
Offbeat Ideas and Commentary from the Depths of Gil's Trading Notes

As everyone knows, Intuitive Machines (LUNR) partnered with NASA and SpaceX to put a small spacecraft on the moon earlier last week. While the unmanned lunar lander, dubbed Odysseus, tipped over during landing and was not expected to last very long, LUNR announced on Wednesday that it was in fact generating solar power and sending data back to Earth until it was put to sleep on Friday once the lunar sun had gone behind the lunar horizon. This leaves open the reasonable probability that it will wake up in two weeks or so once it again basks in the lunar sunlight and power up so that it can phone home again.

Odysseus accomplished a number of marquee milestones on the company’s first mission to the moon, and the company has proven itself to be the real deal, in my view. MarketSmith, which is now MarketSurge with a spiffy new green color motif, shows that the company earned $1.60 in the last reported quarter. Earnings are expected on May 9th, according to MarketSurge. I checked the company's 10-Q filed at that time and it all jibes, but may be due to a one time gain. The May 9th report may shed more light on this. 

Following a big FOMO-style move ahead of the landing and has now come back down to earth after peaking at 13.24, what is the chart telling us now? Well, what we can see right off the bat is a moving average undercut & rally (MAU&R) at the 200-dma on Tuesday followed by a pullback on Friday with volume contracting significantly, essentially a Wyckoffian Retest. My custom HGSI VPA Chart View is also showing some positive signals here along the lows.

My thinking is that if this can hold 200-dma support it may be worth a shot here using the line as a tight selling guide. I am long a small position here, and my idea is to look for some kind of spring back with some price velocity. Thus I do not have to dive in with a huge position. Instead, I can take a smallish position looking for any price velocity that might develop to do the work for me. The basic idea is tht high price velocity with a small position can result in a strong percentage gain. For you Astro & Aero types out there, that would also be HPV(p)=H%G. This is potentially a risky trade, but then investing, like space travel, is not without its risks - the key is taking an approach that limits risk to the greatest possible extent while exposing oneself to potential high-velocity investment rocketry on the upside.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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