Long lithium?

I'm considering opening a sizable position in LIT, a lithium etf.

This is a pairs trade based off of the increasing demand of lithium batteries for electric vehicles. Tesla just announced they are going to be opening a gigafactory and are gonna need a shit ton of lithium to produce their tesla batteries for the cars. As electric cars gain more and more traction around the world due to the efficiency and clean energy, I think Lithium will be poised for at least a double bagger over the next few years.

On top of that the lithium chart looks great, just breaking out of a multi year down trend.

Let me know what you guys think of this play.

 

where do you see the breakout?
http://www.lithiumamericas.com/about-us/lithium-info/

 

I'm probably not gonna invest in a penny stock, but I am long the LIT etf, which holds shares in 22 lithium based companies. it broke out on high volume just recently after gigafactory news... target is a double bagger in 3-4 years

 

which lithium metal chart were you using?

 

http://stockcharts.com/c-sc/sc?s=LIT&p=D&yr=3&mn=0&dy=0&i=t32383787519&r=1394134225105

 

link doesn't work. please list steps once someone is connected to stock charts.com

 

symbol LIT

time frame 3 years

check the volume on recent breakout from downtrend

 

thanks. I was actually looking for a chart of the metal itself

 

http://investorshub.advfn.com/board...n.com/boards/getboards.aspx?searchstr=lithium

 

Lithium-I'd suggest anyone involved consider taking some.

I'd like to see the OP have a stronger argument, fleshed out more. Tesla needs batteries so the ETF should go up is too easy, not great. Give a great argument, one that will allow you to hold for the time you think.

Double bagger over 3-4 years? Wow, what low standards... How many cars will Tesla be selling in that time frame? Couldn't TSLA be worth that much more?

Why not just do some real work and analyze the companies in this sector and buy the best one or two?