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Time for abalone

Oceanus coming back to long term horizontal support of 30c. My hypothesis is that the recent week is a whipsaw. This stock has been on the downtrend for 12 months. For the past 2 years, Oceanus has been always been holding well during CNY period. My holding period will at least 3 months, giving extra 1 month after CNY to decide.

There are several fundamental issue with the counter. Their restaurant venture in China not profitable. Probably they will jettison out of this JV. TDR resulting in share dilution. Earnings down due to oversupply from previous year. However all this happens 1 year ago. If they can turn around the business, the upside will be huge.

My account shows that it is local brokerage firm selling to me. Well at least this is good news 🙂

Vested interest.

2011Jan-Oceanus-800x600

Oceanus at a good price to accumulate before CNY

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