Buy SatCon Tech (SATC) As Stock Set For Major Breakout...

We are buying SATC here under $3.10 as we believe the stock is setting up for a major breakout above its May 2006 high at $3.30 taking it to its September 2003 high of $4.30 near term. If the stock can breach the $4.30 level the sky is the limit as there is no resistance in the area just above it. The company provides energy conversion technology to the alternative energy space and has shown extremely strong year over year revenue growth of 79% with growth across all major product lines. This stock reminds us of a baby Energy Conversion Devices (ENER) and with that stock making new highs today, we expect the market to sit up and take notice of SATCs similar business line leading to a strong move in the stock. Initial target $4.30, with upside to $10 should we breach the September highs.