This morning I added LJ International Inc.(JADE) to the Barchart Van Meerten Speculative portfolio. JADE together with its subsidiaries, engages in the design, manufacture, marketing, and sale of precious and color gemstones, and diamond jewelry. The company offers colored jewelry; and pieces set in yellow gold, white gold, platinum, or sterling silver and adorned with colored stones, diamonds, pearls, and precious stones. Its product line includes earrings, necklaces, pendants, rings, and bracelets. The company distributes its products to fine jewelers, national jewelry chains, department stores, and discount chain stores in North America. It also involves in the retail of jewelry through the ENZO brand in the Asia Pacific region with 95 company operated ENZO stores in the People's Republic of China, Hong Kong, and Macau. In addition, it owns commercial and residential properties in Hong Kong, which are held primarily for lease. As the world-wide economy recovers the jewelry business should recover also. They appear to be positioned with the right products in the right markets.
Barchart has a 96% technical buy signal with recent price appreciation of 22.03% in the last month. JADE hit 15 new highs in the last 20 sessions including 5 of the last 5. The 14 day Relative Strength Index is 90.77% and the stock recently traded at 3.59 well above its 50 day moving average of 2.96.
Although Wall Street brokerages are not yet following this stock the general investing public on Motley Fool voted 227 to 6 that the stock will beat the market including the All Stars with a vote of 41 to 0.
Jim Van Meerten is an advisor to Marketocracy Capital Management who uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.
Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog..
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