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!!

Hi Eric: I think you have summed up ASOS pretty well. What we are looking for now is a 2 day close above a potential support level...it could be around current SP levels. I am monitoring it closely now and will comment as appropriate. John

john

Thanks for that. Beginning to see the sense of your 2 day rule! Strong market today, so the break S from the 70p support level has not been taken up (yet!). Suggests that the fall, as suggested by legend, is primarily profit-taking and not being interpreted as a sell by traders.

Eric

Eric: A couple of points: 1) EOD pretty important as it will confirm whether or not we have seen a 'Bull Trap' by the MM's which will have shaken out the shaky holders yesterday. That's another reason why I always use a 2 day close to confirm a change of sentiment UP or DOWN! Still the MM did have an excuse to lower the SP given the recent option exercise. 2) Someone may have been reading our BB exchange and discovered that the mega BULL EWRobson has sold down his holding!! Joking!

John

johngtudor,
It had not gone unoticed here either, but I failed to switch into NLR so far !!!! still holding SD

john

lol! :-) Positive close today. Tomorrow should be decisive regading future trend. Have been trying to locate the ASOS of 2005; i.e. the newly emerging company. Need also to have a company which is: (a) consolidating its breakthrough; (b) moving on to higher ground. Found it - the name is ASOS!

Eric

legend no offence taken the market is about different views if everyone had the same view there would not be a market.the stock over the last 2 weeks has caughtme with 2 views.my spreadbet was stopped out at 69p & 68p with regard to my long term holding iam still holding the growth story has not stopped yet.the 70p level first mention by me on this bb or before shares mag highlighted IS STILL KEY IF IT CAN GET ABOVE IT AND STAY THERE ON WEEKLY CLOSE WILL BODE WELL FOR SP.cheers woodie

WOODIE: agree, despite the scurrulous abuse cast at me on this column! Took out another CFD today to prove my loyalty!

john: reading of the chart? Possibly the next significant move will be news driven, which almost certainly implies up.

Eric

Eric: There is no precise chart level that you can hang your hat on...but it is for sure around these levels that ASOS must find support or fall further. I recall we agreed on 70p some time ago..it could be lower around 63-65p..but key is for SP to bounce from somewhere in this price range. Right now the RSI and MACD are still falling and there may be better places for your money right now! As stated before I always find the closing price on Friday (EOW) to be an important close so await that price with interest. Good luck with your new CD!

John

john

Thanks for 'professional' technical analyst viewpoint. Strong write-up by John Marshall, my fundamentals guru in good write-up on Internet stocks. Nothing really new, although reports that sales in January 100% up on last year. Seymour Pierce believes that total sales this year will be up 80% and JM assumes they will revise profit forecasts up from 1.55m in 2004/5 and 2.25m in 2005/6; the latter I guess to 3M or 3.6p per share (pe of 18). Costs will benefit from the move to the new warehouse. He believes there is still scope for substantial growth.

So ASC are quite likely a sell on the charts, although Shares hedge their bets, but a buy on fundamentals. Having taken good profits at around 78p, I have taken out a further CFD today. It feels like a nil cost because the money wasn't there yesterday: arisen from gain on SEO. OK the price could go lower as more buyers at low levels are shaken out but any buy at around this price will prove good in my view; always difficult to hit the bottom.

Eric

So what price did you pick these up john????

Where do you see sp going from here???

IMHO - I think the 70p support level is where we've just come from in a volatile sort of way, not where we're about to end up which is back on the more solid 60p level. This, after a shake out of a large number of happy profit takers, will provide a sound basis for the next growth line, but at somewhat less than the 45 angle we've seen over its first exciting year.

I can't see much likelihood for any further announcements until the week after the 31st March end of year. So expect life to be relatively boring until then, when we shall see whether they have improved on market expectations or not.

Anyway, what do I care? I'm in for the duration.

stockdog: good way to look at it. 45 degrees depends on the scales! But if last year was 45%, say doubling in the last six months; then this year is probably doubling in the year from a 60p base or half the gradient. Good to have that sort of banker in your portfolio. The real excitement is elsewhere - more and more convinced that SEO is the ASC of 2005! Worth reading recent posts.

Eric

Thanks Eric
I'm with you all the way on SEO (and a number of other stocks I see you posting on).
SD

ASOS sent me an email this morning including the Fantastic February catalogue/adverts. Anyone else get it ????? SD

Confusing having both seadog and stockdog - both wusing the same initials too! Smitten with jealousy by the former because of ASOS favouritism towards him: perhaps its because he buys their dresses! The latter is admirable because he agrees with me!

Eric

Yes but it's only the marine canine section they sent him. I got the proper dog stock!

legend290782: First purchase at 28p then core holding at 39p. Bought and sold several times above these prices. Not holding any at current price. I am keeping my powder dry to see a support level kick-in. Clearly there are 'bears' about but if the SP picks up we could see a rebound back up into the 70p's. However I am not seeing any technicals to suggest we are heading in that direction yet. I have not picked up any negatives against the company...it is just going through a downward cycle...these things happen even to great stocks. Just my view. jgt

yes very welcommed john.

The guy I know too hasn't even sold any yet either!!!

I will be watching with interest.

Eric
I only buy dresses for my grandaughters ---- unfortunately they are more ladybird size.
stockdog
Whoose the lucky one then ?????
johngtudor
Still holding and I go to Spain for 8 weeks on friday. Ill stick with it.

SEADOG: Enjoy your break in the winter SUN! We will expect the occasional update from the odd internet Cafes' you will no doubt frequent! I do hope the SP has risen above recent levels by the time you return! jgt