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To: Ron McKinnon who wrote (18341)	1/9/1999 7:22:00 PM
From: DanZ	Read Replies (1) \| Respond to of 53068

ASHW. Ron, Thanks for the update on your plans with ASHW. From a pure chart perspective, I can't disagree with your plan to add on a breakout because I think it will move fairly quickly to 6 1/2 on a break above 5 3/4. I also agree that the chart looks good and isn't saying "sell me". The money flow indicates that the stock is under accumulation, and generally this is followed by upwards movement in the price. The big seller seems to be done and it looks like support is building between 5 and 5 3/8. It doesn't concern me too much that ASHW didn't participate in the market rally last week because the stock is in a rebuilding stage. There's no way to tell if it will move up next Monday, or later next week, or next month, but I think the next big move will be up and I'm confident that it will trade to at least 7 1/4. On a side note, I went back to the golf pro shop today to buy new clubs and talked to the owner about Ashworth. I asked him how Ashworth clothes were selling and he said sales were very brisk and he constantly has to reorder. He also said that no matter when he places an order, Ashworth ships on the 21st of the month. I'll have to go back and look at the chart around the 21st of each month to see if anything looks unusual lol. He also said that Ashworth is one of the largest embroiderers in the world and this is one reason why they keep extra inventory on hand. He also said that the company beefed up inventory with the expectation of strong sales at golf courses, but these sales were softer than expected. I don't think one can conclude that sales are good all over just because they are good at one shop. However, the Ashworth name is well respected in the golf community and it's only a matter of time before the stock gets back on track. Golf isn't going away and the Ashworth name isn't going away. This company reminds me of NITE when it was trading in the 7 area. I think that NITE was just as undervalued at 7 as ASHW is at 5 1/2. The stock will go and I'm going to patiently hold it until it does...UNLESS it breaks down for some reason. Thanks again for keeping me up to date on your opinion of the stock. Dan