Oceanus... Sinking to the ocean!

Imagine a ~15% drop in total market capitalization in a single day! Is it possible for a company valuation to fluctuate so wildly in a single day? This is clearly an act of speculation... Would you be the unlucky investor who board this ship?

For me, Oceanus is no longer a good candidate since the last Feb 2010. While the big market (i.e. STI index) is rising, it is gradually losing momentum and weakening. From May 2010, it will be a good counter to short according to my trading rules. Today impressive selldown with good volume and gap down is a clear loud signal for everyone to get out of this Titanic. Today price closes 0.25 on a good support, but with such strong selling force, I believe tomorrow will still be panic selling.

A similar example if you recall will be LongCheer which I touch on earlier. At this moment, it is still bleeding blood daily.

Conclusion:
Immediate short target stands at 0.20.