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Thursday, May 28, 2009

Smart Grid play... ITRI

With CSCO's splashy entrance to the smart grid party, an interesting opportunity is coming about. ITRI is a smart-metering company very well positioned as a pure-play to the smart grid space. (They make the physical meters used... one piece of the multi-layered smart grid pie.) My favorite is GE for the overall alternative energy push, but ITRI is a very good concentrated play.

After today's close, ITRI announ
ced they will be doing an offering on June 5th, and the stock subsequently dropped after hours. IMO, this may present a buying opportunity for anyone interested in playing the smart grid push. Not only is it inexpensive for the level of future estimates I have been observing w/respect to the smart grid space, the technicals agree as well. (CSCO recently made the most ambitious of projections for the space to grow +20% a year to 2014.)

A nice initial entry would be near the 50SMA, but 50-51 is where I am looking to get in.

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