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!!

Held very well off support yesterday. Shall just watch (general) market for a bit before coming back in..

greyhound agree 3 looks good support for now.

note that bounce was exactly off 50 dma - see above

cheers cynic it dipped below the 50dma & 3 interday for about an hour yesterday.

Also a good sign that when the s/p dips it ALWAYS bounces back and latest low always higher than previous low

But won't always.

so far it has, but when it stops doing that it will be time to possibly reconsider holding/strategy

I still want to get back in here but my gut instinct tells me this needs to correct, albeit the trading's good, the strategy is good etc. Sitting and waiting for the time being...

nice to see the 3 level holding once again.

Holding well. In the general market I suspect today could be a suckers rally however.

might be wrong but i think you have missed the chance buying around the 3 mark, over the last 2 weeks it has hit 3 & below 5 times and bounced that shows strength at this level, it would have been a low risk entry point, if you set a stop loss at 2.90.

nice bounce back this morning,down to a low of 3.14 each dip now is shortlived.

a bit lucky here- had a stop loss on at 290 and just about escaped the trigger

Maybe, got out at about this level so can wait a bit...

Do you think EBTM will be the next Asos

Long again at the tail end of last week with the support of 320 holding again. Still not convinced it's necessarily the right decision however.

Greyhound- u r doing all right-approaching new highs again. Guess clocktower cancelled his Caribean hol's and opted now for Butlins instead

Also bought a few k more this morning as the chart is now looking better to me after the ups/downs around 330p for the last month.

looking good "Successful online fashion retailer Asos reached a new high last week by making 1 million in a single day. The e-tailer consistently bucks economic gloom and has become the second biggest online fashion store after Next"
http://www.springfair.com/page.cfm/action=Archive/ArchiveID=1/EntryID=930

ASOS aiming to become the Amazon of fashion

Reuters, Thursday August 14 2008

* ASOS hasn't noticed the consumer downturn
* Firm has had first day of takings in excess of 1 million sterling
* To introduce ASOS marketplace, new delivery options in Feb

By Mark Potter

LONDON, Aug 14 (Reuters) - Online fashion firm ASOS hasn't noticed a downturn in consumer spending and is planning a range of initiatives aimed at staying ahead of growing competition from store groups, its chief executive said.

Nick Robertson, speaking to Reuters at ASOS's clothes-strewn headquarters, said the group was aiming to become the fashion equivalent of books, DVDs and consumer electricals Internet pioneer Amazon.com, with plans for a marketplace for second-hand clothes and homepages tailored for customers.

"Everyone's online bit of their retail mix is growing like stink," he said, adding that sales growth was so strong that "we can't notice" the downturn in consumer spending that has ravaged the sales, and share prices, of traditional stores groups.

ASOS, whose current bestsellers include tulip skirt dresses, tartan prom dresses and knitted boots, reported a 95 percent rise in first-quarter sales in June. Robertson declined to say whether sales growth remained over 90 percent but, when asked, said: "Suffice to say I have a very big grin on my face." He also said ASOS enjoyed its first day of takings in excess of 1 million pounds ($1.90 million) two weeks ago.

Online retail sales are booming as growing broadband penetration makes Internet shopping easier and cash-strapped shoppers seek bargains from Web sites that are often able to sell their goods more cheaply than store groups.

Online sales in Britain leapt 38 percent in the first half of 2008 to 26.5 billion pounds ($50 billion), according to IMRG Capgemini. Verdict Research estimates Internet sales account for 5.9 percent of Britain's 41.6 billion-pounds-a-year clothing and footwear market and that this will rise to 12.7 percent by 2012.

"I genuinely believe we're at the tip of the iceberg on this," Robertson said.

MORE CHOICE

He said store groups, like retail tycoon Philip Green's Top Shop, were getting better at trading online. But they don't pose a threat to ASOS which, with over 14,000 products on its website and 600 new options added every week, operate on a different scale, Robertson said.

"This is a fundamental difference...I can never see a situation where one High Street retailer is going to stock 15 of its main rivals. We will, because we're not a High Street retailer," he said. Robertson said ASOS would continue to add new products and was planning new initiatives to stay ahead of the competition.

The group is due to launch ASOS Red, a clearance site for branded clothes, on Sept. 1 and its three studios were busy with photo-shoots for this, as well as its main Web site.

Robertson said the group planned to launch an ASOS marketplace in February, which will initially allow shoppers to trade second-hand goods and towards the end of the year will also allow small fashion boutiques to upload their products. It will also introduce a range of new delivery options, including next day delivery and also free delivery and free returns options, during the same month.

In around 12 months, it will introduce more tailored emails and homepages for its customers and in around 18 months it plans to launch sites for foreign markets, Robertson said.

Selling children's clothes, maternity wear and expanding own-brand ranges into the premium and/or budget segments are other options.

ASOS shares have outperformed the UK general retailers index by 88 percent this year and trade at about 27 times forecast earnings, well above the UK general retail sector median of about 10, according to Reuters data.

But Evolution analysts still rate the stock a buy.

"Upgrade catalysts and underlying high growth more than justify the current comparatively high multiples," they wrote in a recent research note.
(Editing by Tony Austin)