Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Back on the 1st February I observed about the online clothing retailer Asos (ASC) that ‘I am still a seller on this name and take the view that below £40 is a level where you can start looking at this one again’. Guess where the share price is today after a sharp fall following the publication of four months to 30 June numbers? Hello near 40 quid a share. So what is going on?