ASOS have dropped quite significantly in the past week for no particular reason and I view this as the perfect opportunity to invest as I can see them bouncing right back up to the 5.50p mark in the next 2-3 weeks. STRONG BUY!!

johngtudor, ptholden

Great having the chartist expertise available! Thought RSI was Recurrent Sprain Injury but now realise it is Relative Strength Index. Do you have chart for ASOS? Presumably the testing of the 30 bottom is a measure that oversold. RSI and BB would appear to take account of randomness in buying and selling when a particular balance is established. If significant news occurs, presumably this is, in a sense, a discontinuity, perhaps resulting in an overnight mark-up or a heavy bout of buying (or the reverse). This has clearly happened twice already in the last few months with ASOS. My argument, in line with willfagg, is that this will probably happen once or twice in the next four months with ASOS. The charts can't be expected to anticipate this except perhaps in the balance of buyers v sellers. However, I realise that the theory has a place and am resolved to work through the eyield seminar.

Quiet today suggesting that both buyers and sellers are having a rest day or that the price is sitting at a happy medium.

By the way, PTH, had a good day on Monday with 36 Stableford points and expected to win some lolly - only to realise that I had had an SM and forgotten to put my stake in!

Eric

Hi Eric,

I think the general approach should be to think like a Fundamentalist and act like a Technician! A combination of the 2 approaches, should on the whole result in some good investments. As for the Relative Strengh Indicator (watch the wrist), it should be remembered that it is defined in the books as an oscillator to help identify tops and bottoms of movements, as against other trend following analysis. I personally use 75% and 25% lines across the RSI chart to identify the overbought or oversold conditions. Others, and in fact more popular lines are drawn at 30% and 70%. Up to you. As for posting the chart if you go the charts section on MoneyAM, and then choose indicators you will see they default to the 9 and 14 day RSI averages. Again its a matter of choice. Shares like to use the 14 day as do others, so be warned.

Today has seen little volume so no real trend yet! By the way did you buy into BUR after my earlier comment and have you seen PET today...with PCI to follow no doubt?

johngtudor

Thanks for the chart input which I will be pursuing. Re the shares, for someone 'comfortable with risk' (Shares comment on my porfolio), I have up to now steered clear of the energy sector. When my current investment position unfolds and there are funds to redirect, I will take a long, hard look. I accept the timing issue but you can be spread too thinly. As a matter of some urgency, I would recommend a good look at YOO (the bb is helpful). EVO have just put out a very bullish forecast but the market has not taken on board their acquisition yesterday from MMTV of the 15m health project. I have a competition between YOO and ASC in my own protfolio - who will double first?

Eric

Hi Eric,

Thanks your comment. I am watching and looking at YOO very carefully + BPRG which is having a battle with the 120p resistance at the moment, once cleared I think it might shoot to 160p..not sure yet about YOO. Timing as you say is everything, but the Energy Sector has to be in your 'risk' portfolio! We are currently at quarter end for the Fund Industry (end September) so it will be interesting to see how the market goes from here....If it is turning then Finacial Stocks that have underperformed for some time could well come to the fore! Have a profitable day! John

Eric,

ASC!

John,

BPRG may have broken through today, if the court case verdict is in BPRG favour, I also suspect 160 and beyond will be on the cards. Even if the court case is against, probably ownly a slight setback. Apologies for being off thread.

PTH

pth

OK! Starting point is, for the record: ASC 56p; YOO 22p.

Looks like a bear attack today with persistant selling, much in blocks of 25K and 35K shares. Might give the best buy opportunity.

Eric

Morning Eric, sorry to see YOO on a bit of a slide, but well maybe a buying opportunity.

Released some funds yesterday, for a possible buy into ASC, but have got sidetracked this morning by PRE. So ASC on the back burner again for a while. ASC treading water at the moment it seems, so by the time it decides what to do, I may be ready. Will have a look at the charts again later today and see if there are any indicators.

regards

PTH

PTH:

So good call on BPRG. Lots of good news flow, and although I normally like to see a 2 day close over my target entry points as well as an end of week close, this was too good an opportunity to miss and bought in. We now have a positive court verdict on the patent issue and probably lots of good weekend press coverage to come as well. So as previously discussed I think the 160p target is now ON. We shall see.

The ASC AGM seems to have missed the staid journalists on Shares and IC, still lots of time yet to beef up the press coverage!


Have a profitable day!! John

Looks like ASC may be about to test support at 55p again. Chart doesn't look quite as clear cut as the previous bounce of a few days ago. Bollinger Bands now at a slightly lower, RSI at a mid level. Will be interesting to see which way it goes. If it fails at 55p, next Chart support is at 45p.

Regards

PTH

John

Having read the BPRG statement first, it appered that they had it all their own way. Have now read the SEO statement and it is a slightly different story. Both companies look like they have come out with a bit of a win, which suits all Private Investors, so it seems a pleasing result for all concerned. Sorry to be off thread yet again!!

PTH

PTH:

Agree with your analysis on both ASC and BPRG. John

Oops, spoke too soon, buyers dived in and back in the blue!!

Confusion! last price shown in my stockwatch 58.50 +1.50, but closing price column has 58.00 +1.00 . Last trade for 300,000 shown as sale, is that correct? I've had T trades go through on wrong side before.

Evening all,

Good recovery by ASC late this afternoon, looked for most of the day that support at 55p would be tested. On the plus side the overall uptrend remains intact, RSI remains reasonably positive, although with little momentum, and trading well within the Bollinger Bands. On the negative side, low volume, MACD Bearish MA crossover, looking to be followed by a MACD MA Centreline crossover. Difficult to say what's coming next, next week will reveal all. But 55p has proved good support thus far and no real reason yet to think otherwise. Although if 55p is breached stand by to see 45p. All IMHO of course.

regards

PTH

I cant see any reason for it to go to 45p. every time it wavers below 55p and support comes in.its definitaly pausing for breath, but i do not think for long

Rake

Press shows a close of 58p and there was no actual trading band centred as high as 58.5p. Given that there will be several mm's, I just don't know which price they take; they can certainly offer different prices. The 300K is marked as a T trade. Interesting that sells significantly outweighed buyers althoug price stregthened on day. There was a reasonably concerted buying effort from about noon which more than outweighed the heavier selling earlier in the day.

ptholden

I think the significant fact is that we are in a relatively quiet, no news period, yet buyers are coming in around the 56p to 58p level. Given the near certainty that the next news will be very positive, although the interval could well be something like two months, there are unlikely to be many sales from genuine investors and it looks as though the 'evil' traders are not getting anywhere!

willfagg

I agree with you. Pleased to see you buying YOO and joining the ASC v YOO challenge. Others are welcome to nominate a share to double quicker than ASC! Doubtful about BPRG which is already heavily capitalised.

Eric

Eric

How long will buyers keep coming in at the 56-58p level? The uptrend remains intact, but only if buyers keep coming in. As you say more buys than sells yesterday, a few more days like that and the uptrend will be broken. SP generally drift downwards on periods of no news. Agree that genuine investors may hang on, but those who bought in at low prices may well decide to take profits now and perhaps buy back in at a lower level.

Just playing Devil's Advocate!!

BPRG, a long way to go yet!! Couldn't tear myself away on Friday and the plot continues to thicken, wth the possibility of a SEO appeal, (waste of money if you ask me, even if they could afford it).

Look at Energy shares Eric, they are certainly the flavour of the month.

Regards

PTH

4 shres worth look asc(buy on the dips) bprg, sps, pet (stil could go a long way, but you will have to get in early on monday morn (very speculative!)

I'm with you Kivver, except for bprg and I'll also throw in bnh, sey,and pdx.