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!!

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

Just picking up John's thought of bear activity forcing the price down. It is interesting to see 50K sells today at opportune times, outweighing the actually greater number of buys and thus encouraging the price down. We are pretty near a support level at 60p. I am looking to strengthen my position at around this level: the problem being what to sell. The charts say sell; the fundamentals, or my perception of them, say buy and then hold for a bull run to 120p later this year. I can see the argument for biding one's time until the charts become more encouraging on one hand and there is more news flow on the other. We know ASC are trading well, at double last year's elvel, from the hitwise figures.

Eric

has anyone got the date of the next hitwise figs?cheers woodie

Always a bit uncertain when an SP retrenches this far from a linear upward path. For one thing the chart is "immature" with no previous history of recovering from such a set back (by definition).

On fundamentals and macro-economics (increase of on-line, decrease of high street trading as a demographic shift) I see ASC outliving my Fastbuck Fund into my Growth Fund cum dividend for a number of years tio come. So, as Eric says buy some more at around 60p and relax. IMHO, DYOR, OBE

SD

WOODIE

Hitwise figures are updated each Wednesday. There is a reference to the chart somewhere about Jan 10th which takes you straight there - I'll probably look it out tomorrow and will post result here. The rise in SEO has left me a surplus position on CFDs so I have bought three tranches of ASC in the last week. The other excellent post was that about 10 days ago by lemming investor. I think the downside risk is relatively small so buys at the current price will look really good in a couple of months time. Remember, that while the price has dropped with alck of fresh news this year, the company has been plotting its way, like Ellen McArthur, to world domination! Now thats an idea about Ellen!

Eric

time to cover your shorts and go long ASC for the next MAJOR wave UP

Offer goes from 66 to 67 as i write :)

Here we go.

Come on you ASOS!

Eric, I'll give you my arguments on NLR about ASC were pure sentimental rot, on reflection. The market has no memory. It doesn't care that you have a profit cushioin to fall back on.