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!!

I think the chart looks a bit grim.Oversold,money out volumes down,more sells than buys.Why don't they short it down to 45p or has the momentum gone for this particular exercise?Someone bought 200,000 shares this am. was'nt me.Yours Ethel.Thanks for the gmc tip,Eric.

Eric

Thanks for this timely analysis. I have been, as you know, watching and waiting. You've given me the impetus I need to dip in again to double my holding.

By the way, I can't help noticing that the head and shoulders formation actually has three heads like my friend Cerberus - long may he guard the gates of Hades.

Snuff snuff!

SD

Hi everyone, I have had some problems today with some s/w known as Java. It seems I do not have it installed according to the MoneyAm s/w application and therefore remain unable to look at details of the volume table and other essential trading tools. Now I hasten to add that I do have Java installed, Java themselves tell me so, and I have that nice steaming teacup on the screen to confirm it is so...I have also ticked all the right boxes and more importantly have not changed any of the settings since yesterday when it all worked AOK...I expect you have all had similiar experiences and I hope that by Monday all is fixed as if by magic...perhaps it will revert to normal, who knows!

Anyway I can still post, and it has been a sad week for holders of ASOS. Although we seem to be holding just below the 200 day ma, I have searched in vain for some shining beacon of light that would suggest events are about to change. Normally when all else fails I apply the Elliot Wave Count, and although it is unreliable, we may be at the end of a wavecount down. But as yet there are no Oscillators or other supporting evidence to support that finding. So reluctantly there are no Technical reasons for holding the stock only Fundamental ones. Evil continues to short the stock with his friends, actually he seems to have picked on a number of my holdings and I may have to go with the tide soon...but setting that aside, if the falling 50 day ma crosses the 200 day ma in the next few days, and it is pointing to that dreadful event taking place, then we may see further heavy falls in the SP and I would be looking for a support level before going Long again. As for the Fundamentals of this stock...well no change on that front, the company appears to be thriving so this SP fall can be put down to nothing more than negative sentiment and opportunism by the shorters and there is no harm in that as it makes for a healthy market, but soon this stock will be a screaming buy and for long term holders if you still happy with your research on the company...why sell. Of course these are only my views and you may all have different objectives and views, good luck. John

stockdog: for a canine, you never cease to amaze; now we get the classical stuff; suspect we need Cerberus to protect us from Evil!

But I have a theory. Interesting trades again today: price drops despite buys outdoing sells; is that the MMs saying "lets get it over with Evil". Then a lot of buys at the end of the day in the significant shorting multiple of 25K. Could mark the end of the shorting process. The test will come on Monday morning: if the buys continue the point may be proven. The timing could have been excellent, sd, but then dofs always know when its time for dins; and for walkies!

Enjoy the weekend, Eric

john . don't forget the 200 and 50 must both be pointing down , at present that is not the case.

Eric , the 25k trades looked very deliberate and meant to be seen , this makes me very suspicious. I doubt shorts closing would behave in so obvious a way in case the sp was raised against them.

maddoctor: Correct and noted.

Eric: I do not think shorts are closing their positions...you may want them too but not yet awhile I suspect.

John

You still in this EW ?

I remain happy with my buy at 58.25 around midday shortly after which the first 25k buy occurred at 58, then the next at 58.25 and so onwards and upwards with similar round number buys with SP offer rising to 59. Pity about the two final 175k which I have as probable sells.

johngtudor - if shorts not closing, who were the buyers do you think? Bigger men than me, which gives me comfort whoever they were. Monday will hold keen interest for me.

If I was wrong, we're down to the mid 40's support level from August - hardly strong support at that.

Dog days.

SD

I agree with the shorters. Posted my reservations earlier on the thread while they were in a strong uptrend but warned against going against the flow.

My fundamental opinion : they sell crap , no barriers to entry , short term fad and the market cap is a joke.

Just my opinion but wouldn't be suprised if these were sub 30p in not too distant future looking at the technicals and lastly I have no position at present.

Dil - whether or not what they sell is crap may be an interesting debate, but misses the essential questions:-

1) Do they sell it? Answer: yes, lots of it.

2) Are more people going through their internet doors whilst those visiting high street stores diminish? Yes.

3) Are the %age increases in the usual number impressive? Yes.

4) Does cheap fashion sell? Yes - remember Gerald Rattner?

5) Will the central warehouse facility be a profit-improving investment? Yes.

6) In spite of no barriers to entry, are there other similarly successful entrants? No.

7) At whose expense is the market cap joke? Yours, I suggest.

If you don't like the share, don't buy it - no problem. If you don't like the people who have bought it - that's your problem? If the SP falls to 30p that will be Mister Market laying claim to his prerogative - not yours.

No offence, just defending Master Eric's front gate - it's in my nature to do so.

SD

Excellent post, stock dog. Now I know what your job should be, even if it isn't at present. 2 people in Europe? I have one dog guarding my front gate at preent, Honey. Now, with you, I have two.

Puzzled, Dil, why you bother with the post or is it just sympathy with we sufferers of the decling share price. Yes, I did sell out in the 70p's. Yes, I have opened 4 CFD in the 60s and will, no doubt top up, if I have a chance, at current levels. sp is well below the appropraite value on the basis of fundamentals. Will explain that - if you are seriously interested.

Eric

Speaking of crap, Diligent research has revealed that a few years ago, elephant dung won the Turner prize and thousands queued to see it. One man's crap is another's work of art.

Well, squidd, strictly it wasn't one man's crap, was it now!

SD

stockdog , no offence taken , debate is healthy.

Eric , just posting a contrary opinion , one I have held through the rise as well as now. Best hope imo is they exploit their "first mover" advantage and keep evolving along with changing fads.

Squidd , I wasn't one of them :-)

Good luck I'll leave you to it from hereon in.

Nice little mention in Sunday Times Money section today.

Interesting that Simon Cawkwell is reported as saying that he is still encouraging shorts in ASOS. Good price rise today. I have a wee bet, if there are any takers and there is anyway of proving it - Evil Knievel has closed his short! Why! Because he was telling others to keep their's open, so he can close first at the lowest price! lol! No fool, that man, nor is he lovable, except by himself!

Eric

http://www.timesonline.co.uk/printFriendly/0,,2-529-1501870,00.html

SUNDAY TIMES

We asked leading fund managers and stockbrokers to pick their favourite AIM shares.

Asos

WITH a market capitalisation of just 42m, the internet fashion retailer is still a tiddler. But Nick Raynor at The Share Centre, a stockbroker, thinks it has the potential to grow into a star of the future.

He said: Asos is the real growth story among retailers. It performed superbly last year and still has further to go.

He believes now is a good time to invest. Since hitting a high of 89p in November last year, the firms shares have slipped back more than 30% to 58p. It made its first pre-tax profit of 126,000 in the six months to September 2004 on turnover of 4.7m.

Good one, marketmaker; I saw that. Moreover the assertion is very reasonable. Good day on the market and hopefully the start of the recovery. Going into March we are only a month away from good trading figures: the hitwise figures (post 1124) continue to be good (double last year). The future is good; the future is ASOS!

Eric

Feeling cheerful about my buying more at 58.25 on Friday. Today has been 85% blue with a good strong lift off the bottom with reasonable volume of nearly 2% of issued shares traded including a good 300k protected buy reported at near end of day. Pressages more blue tomorrow, I think.

As you say, Eric, only 31 days till we should get a TA before the close period up to results.

SD

Here we go, nice firm start, solid blue in good sizes - up we go again!

SD