Not everyone has a Titan, in fact, the vast majority of LTC hashrate is composed of non-Titan ASIC's with the most efficient behind the Titan taking twice as much electricity per MH. Also the average cost of electric in America is .12 which is a fairly large 20% difference.
LTC at $1 post halving would be like LTC @ $.50 now, a Titan can make 7LTC per day, thats $105 per month which is about break even. Now you include costs for A/C and you are definitely running in the red. The value of the Titan will go from $4k-6k today to $1500 at most with LTC @ $1 post halving. So how much mining will it take to make up the lost $3k+ in value?
As for LTC @ $5, I hope so, especially with block halving. One thing is for sure though, given the volume that LTC see's, I dont see any increase in price from the halving, the daily mint is a drop in the bucket to daily volume. Our best bet as having mostly Titans is that the network hashrate will drop down to around a TH or less post halving so that way we get a slightly larger piece of the pie.
Some people say LTC was overpriced at $8 but I say LTC was waaaaay under priced @ 1.50 and in order to restore the same balance BTC & LTC had prior to the big crash, LTC would be valued at around $10-$12 today.
Right now probably the best thing to evaluate LTC futures would be charting IMO as its mostly day trading volume.