The first ASOS Challenge was successful in the sense that it taught us a few lessons on investment timing. Only three of 11 shares ended in profit and that included ASOS itself: congratulations to legend for BNH and bosley for SEO. Back to the drawing board for the rest of us (over the year the portfolio would have thrashed any opposition!).

Participants welcome for the second challenge. Primary objective is to find shares that will double in value by 1st July, beating ASC in the process; secondary to be most successful stock-picker in terms of the value of your 20K portfolio. Rules are:

1.Each participant has 20K which can go into 1,2,3 or 4 shares in units of 5K.
2.ASC has 20K and is team yardstick, not in individual portfolios.
3.Duplication between entrants OK with no upper limit for total for one share.
4.Start weekend of 21st Jan. Buy price half way between closing offer and mid.
5.Latest time of entry to be 8 pm on Sunday, 23rd Jan.
6.Challenge to close Friday, 1st July.
7.Entrants can switch up to a total of 10K; av. of Friday close bid and mid.
8.Progress reports to rank shares by performance but also participants (initial only to protect from the ridicule of outsiders!).

Participants welcome. Just post selection here or on ASC thread.

Eric

Tally HO Eric! All to play for next week--PAY shows encouraging signs of life.
Same with me--down to one crutch and more nimble every day. Can't say I'm eager to go for the other knee now I know what is involved. Hope the puppy is settling in well. Very encouraging on CFP I'm now up to 350000 shares and intend adding with spare bits of cash. have a good weekend all-MP

still there, eh!!!!!!

Moneyplus, being now bereft of all cash on CFP plus me shirt and pants, I would advise you to buy, but me socks are in TAD, which I see doublin` in the next 6 weeks. If both these fail, I`m becoming a nudist and will have to move to Germany or Sweden !

I will check out TAD-thanks Snakey. What a picture! Should bring some merry comments from Eric!

Sorry about that, mp, been spending too much time on the golf course! Not taking up snakey's suggestion? re CFP, that is, not the nudism bit! Now Uncle Eric said 1 million shares in CFP: only 4K or so or another 2.6K to go. At 10p they will be worth 100K - promise! I think, though, that THE share this week will be NML - worth having an odd K or two on it with the promise of diamonds to come!

What are we going to do about bos! Every week he comes on with the same sort of insufferable comments. I know, we'll give him a handicap: not a blow on the knees although he is Sicilian, but we will charge him 1000 per week for the 20K we lent him. Is that approved by everyone but bos? Going, going ........

Eric

hey! steady on !!!!

Sorry folk! Did the update Friday evening but seem to have lost it! Think I'll blame the Masters. I was even nice to bos so I don't think he squelched it, particularly as he's nearly 100% up, leading seb by some 10% with yours truly just over 50% up in third place, benefitting from NML the share of the week and worth a look. I you are not in SEO, look at the thread as it could be pushing ahead to 30p over the next few weeks, i.e. another 50% with more to come. Can't stand the thought of redoing it so will combine two weeks next Friday.

Eric MC (mea culpa!)

just got a statement from my endowment company. i think i might go for compensation , as i would have had more if i had put my money into a building society account paying 0% interest. obviously, i could have done better myself........being top of the league and all that..........

bos. Its good that you don't really need the endowment money. The main thing is to hold on to SEO and then you can probably buy the company out! lol! ER

SECOND ASOS CHALLENGE PORTFOLIO

The portfolio analysis below shows last weeks's and this week's movement. The number in brackets shows johngtudor's chart analysis post reference, easily referred to be clicking on all messages. The portfolio is up 10% against the FTSE small cap index of 0.6%. But this is explained completely by the performance of SEO. It demonstrates the value of running profits whereas so many recommend taking profits perhaps to reduce nominal cost to zero. No doubt about it, 'run profits and cut losses' is a much better maxim.

epic cost___ shares_ price_ value gain% wk-1 wk-2
SEO_ 7.19___ 456900_ 20.25_ 92522 181.6 18.2 3.8_ BBSSUUW(137)
HCEG 63_____ 7935___ 104___ 8252_ 65.1_ -1.4 -1.0 O(151)
NLR_ 394.5__ 5080___ 600___ 30480 52.1_ 2.6_ -8.1 CDMM(137)
CFP_ 0.28___ 3570000 0.40__ 14280 42.9_ 5.0_ -4.8 WY(137)
BGC_ 84.8___ 5900___ 117___ 6903_ 38.0_ 18.5 1.3_ K(137)
AGL_ 128.25_ 3900___ 166.5_ 6494_ 29.8_ 0.0_ 1.5_ B(137)
BGT_ 130.5__ 7660___ 163___ 12486 24.9_ 1.9_ 1.6_ JJ(137)
BAG_ 811____ 615____ 982.5_ 6042_ 21.1_ 3.1_ 3.1_ P(151)
CRDA 327.375 1525___ 387.3_ 5906_ 18.3_ 4.2_ -1.6 P(151)
TRT_ 87_____ 5750___ 101.25 5822_ 16.4_ -3.9 -2.9 K(151)
DFD_ 136____ 3675___ 157___ 5770_ 15.4_ 0.0_ -1.9 A(151)
RSG_ 466.25_ 1070___ 532.5_ 5698_ 14.2_ -0.9 0.0_ P(151)
DGM_ 18.19__ 110000_ 20.5__ 22550 12.7_ 1.2_ -5.7 BEMS(137)
IDS_ 212.5__ 4700___ 236___ 11092 11.1_ -0.8 0.2_ GH(151)
CEY_ 12.625_ 39600__ 14____ 5544_ 10.9_ 5.3_ -6.7 I(137)
MOB_ 230.75_ 2165___ 254.5_ 5510_ 10.3_ 3.3_ -5.2 C(151)
PCI_ 10.625_ 47000__ 11.5__ 5405_ 8.2__ 4.2_ -8.0 T(151)
AEN_ 697.5__ 717____ 737.5_ 5288_ 5.7__ 0.3_ -6.3 J
CIU_ 162.25_ 3080___ 169.5_ 5221_ 4.5__ -0.3 2.1_ G(173)
KCOM 62_____ 16100__ 64____ 10304 3.2__ 0.0_ -10.5 OO(151)
GWP_ 120.25_ 8315___ 121___ 10061 0.6__ -2.1 6.1_ EE(151)
GHH_ 191.5__ 2610___ 191.5_ 4998_ 0.0__ 2.5_ -5.4 G(151)
ACE_ 258.25_ 1935___ 255.5_ 4944_ -1.1_ 0.4_ -0.8 G(151)
PAY_ 255.75_ 1955___ 249.5_ 4878_ -2.4_ 0.0_ -1.2 M(173)
BPG_ 667.625 1500___ 631___ 9465_ -5.5_ -6.5 2.3_ DP(151)
THUS 15.19__ 32900__ 14.25_ 4688_ -6.2_ 5.3_ -5.0 O(151)
CASH 142.25_ 3515___ 133___ 4675_ -6.5_ -1.9 5.6_ C(173)
TND_ 22.5___ 111000_ 21____ 23310 -6.7_ -3.3 -4.5 LLLLR(173)
AUG_ 256.25_ 3900___ 237.5_ 9263_ -7.3_ -3.7 1.7_ DE(173)
WNN_ 268.5__ 1790___ 247.5_ 4430_ -7.8_ -8.0 -10.8 C
ITR_ 7.81___ 110000_ 6.875_ 7563_ -12.0 0.0_ 1.9_ HH
IDOX 11.75__ 42500__ 10____ 4250_ -14.9 -2.4 -2.4 V(173)
NML_ 5.31___ 85750__ 4.5___ 3859_ -15.3 41.4 -12.2 W
SLV_ 11.625_ 40450__ 9.75__ 3944_ -16.1 -2.5 0.0_ D
PDX_ 231____ 2165___ 193.5_ 4189_ -16.2 1.7_ -6.5 A(177)
MDW_ 9.09___ 247500_ 7.5___ 18563 -17.5 -3.1 -3.2 JSVV(137)
EPD_ 51_____ 9805___ 42.0__ 4118_ -17.6 -3.1 -10.6 I(173)
FTO_ 8.69___ 57500__ 7.125_ 4097_ -18.0 7.1_ -5.0_ Y(173)
BNH_ 125.25_ 15970__ 102.5_ 16369 -18.2 -2.2 -7.7_ AIRR(173)
SPS_ 50.5___ 39600__ 40____ 15840 -20.8 -5.0 -6.4_ AIKK(173)
PET_ 53.75__ 9300___ 39.5__ 3674_ -26.5 -7.7 -6.0_ R(177)
PMD_ 0.875__ 571400_ 0.625_ 3571_ -28.6 -3.8 0.0__ Y(173)
GMC_ 19.125_ 52700__ 13.5__ 7115_ -29.4 -1.6 -10.0 TW
TAD_ 9.375__ 53300__ 6.575_ 3504_ -29.9 -1.8 -4.4_ Y(177)
KYS_ 15.875_ 63000__ 11____ 6773_ -32.3 -10.0 -4.4 UU(173)
DES_ 62.25__ 8030___ 41.5__ 3332_ -33.3 -2.2_ -8.8 H(177)
ASC_ 78.5___ 25480__ 50.5__ 12867 -35.7 -5.7_ 2.0_ ZZZZ(177)
XEN_ 7.44___ 67200__ 4.6___ 3091_ -38.2 -15.4 11.5 V(173)
BPRG 67.25__ 14870__ 34.25_ 5093_ -49.1 -7.8_ -35.4 TT(137)
totals__________________ 484090.9 10.0_ 2.3__ -2.7
small-cap__ 2891.87_______ 2910.4 0.6__ 0.6__ -0.7

SEO has moved ahead each of the last two weeks on the announcement of alliances with Premier Technology and Advanced Energy Industries. Premier will install units in North America whilst Advanced will supply and install the R?F component in North America and other parts of the world. Engineers are being trained from both companies over the next three months. One plus is that it means that SEO's infrastructure will be kept relatively small. But what are the implciations for sales? It is extremely likely that Wal-Mart will be following ASDA in making sure that their suppliers fit the technology. An announcement to that effect is likely before the end of the month, implying a further jump in SEO's sp, possibly to 30p. Still a buying opportunity!

Other positive movers in the last two weeks have been BGC and NML. NML has commenced diamond production in Angola and, despite positive geological analysis, the projected return is not reflected in the price; figures likely to be confirmed in June. Any comments on BGC, Kivver.

The main faller is BPRG on a profit warning. The fall may be overdone as the film product is not the main potential earner; however, management have egg on their faces and appear to have lost credibility. However, may be a good opportunity at this price (views, John?).

CFP prelims are within the next two weeks and will include an account of current earnings. Their work in bringing companies to the AIM market is pretty visible and the shares could move ahead quite sharply from their current sp of 0.4p. Worth staching an odd million away! bb views believe that this could move to 10p in 2 or 3 years for a value of 100K; worth having a bit of that! (watch out, bos).

B 101.5 J 9.5__ I -11.4
S_ 89.7 D 4.6__ R -17.4
W_ 46.4 G 3.5__ H -17.8
U_ 44.4 K 3.2__ V -22.0
M_ 28.8 E 1.3__ T -32.9
O_ 16.2 L -6.8_ Z -35.7
P_ 11.9 Y -9.0
C_ 11.2 A -10.0

bos is up over 100% still pursued by seb. The other SEO holders are detached from the field with yours truly slightly ahead of markus. That game filly, moneyplus, is cantering on, leading the non-SEO pursuers, whilst partridge has broken cover with his safety first policy in a tricky marketplace.

Any other news items coming along which might suggest investment in any of your holdings?

Good trading in a blue environment! Eric

hey! what do you know? ................. do i really need to say it?

agl should come on strong soon. a few of their fingers were expected to come out of their pies in spring, so anytime soon .

Bos ... I wanted to flog all mine and shove it on Wales at 2-1 to beat England but Eric wouldn't let me ... otherwise I would be winning :-)

Anyway , congrats bos but in real life I went 100% cash 3 weeks ago but had a punt on rgu last week based on chart.

Good luck all.

dil, i'm assuming you were talking about rugby!!! just had a look at the rgu chart and (my knowledge of charting being very amateur) i agree , it looks good. i can see one of sd's golden croses. (i know he likes them)
in real life i wish i had had enough cash to have bought my choices for real. can't complain too much though.i have made back all my previous losses and am now well infront thanks to seo and asos.

Dil: do you mean that you didn't put your shirt on Wales after all! Where's your faith man; you would be singing in the valleys, even now. Not a bad idea to squelch your holdings - means that you can start afresh; could do worse than SEO! Join the bos-support club. lol!

Eric

Second ASOS CHALLENGE PORTFOLIO

The portfolio has recovered some lost ground and is up 13.3% overall against an approximate breakeven on the small-cap index. I have shown the last 3 weeks movements as it goves a better idea of trends. It is still worth referring to johngtudor's chart anallysis on the post given at the end of the column.

epic cost___ shares_ price_ value_ gain% wk_1 wk_2 wk_3
SEO_ 7.19___ 456900_ 22.50_ 102803 212.9 18.2 3.8_ 11.1 BBSSUUW(137)
BGC_ 84.8___ 5900___ 138.25 8157__ 63.0_ 18.5 1.3_ 18.2 K(137)
HCEG 63_____ 7935___ 99.5__ 7895__ 57.9_ -1.4 -1.0 -4.3 O(151)
NLR_ 394.5__ 5080___ 580___ 29464_ 47.0_ 2.6_ -8.1 -3.3 CDMM(137)
CFP_ 0.28___ 3570000 0.41__ 14637_ 46.4_ 5.0_ -4.8 2.5_ WY(137)
DGM_ 18.19__ 110000_ 24____ 26400_ 31.9_ 1.2_ -5.7 17.1 BEMS(137)
AGL_ 128.25_ 3900___ 166.5_ 6494__ 29.8_ 0.0_ 1.5_ 0.0_ B(137)
CEY_ 12.625_ 39600__ 15.75_ 6237__ 24.8_ 5.3_ -6.7 12.5 I(137)
BAG_ 811____ 615____ 1002.5 6165__ 23.6_ 3.1_ 3.1_ 2.0_ P(151)
BGT_ 130.5__ 7660___ 153.5_ 11758_ 17.6_ 1.9_ 1.6_ -5.8 JJ(137)
CRDA 327.375 1525___ 382.25 5829__ 16.8_ 4.2_ -1.6 -1.3 P(151)
RSG_ 466.25_ 1070___ 532.5_ 5698__ 14.2_ -0.9 0.0_ 0.0_ P(151)
IDS_ 212.5__ 4700___ 240___ 11280_ 12.9_ -0.8 0.2_ 1.7_ GH(151)
DFD_ 136____ 3675___ 150___ 5513__ 10.3_ 0.0_ -1.9 -4.5 A(151)
TRT_ 87_____ 5750___ 93.75_ 5391__ 7.8__ -3.9 -2.9 -7.4 K(151)
GWP_ 120.25_ 8315___ 129.5_ 10768_ 7.7__ -2.1 6.1_ 7.0_ EE(151)
KCOM 62_____ 16100__ 66.5__ 10707_ 7.3__ 0.0_ -10.5 3.9_ OO(151)
MOB_ 230.75_ 2165___ 247___ 5348__ 7.0__ 3.3_ -5.2 -2.9 C(151)
TND_ 22.5___ 111000_ 23.5__ 26085_ 4.4__ -3.3 -4.5 11.9 LLLLR(173)
AEN_ 697.5__ 717____ 715.0_ 5127__ 2.5__ 0.3_ -6.3 -3.1 J
CIU_ 162.25_ 3080___ 162.5_ 5005__ 0.2__ -0.3 2.1_ -4.1 G(173)
GHH_ 191.5__ 2610___ 190.5_ 4972__ -0.5_ 2.5_ -5.4 -0.5 G(151)
CASH 142.25_ 3515___ 139___ 4886__ -2.3_ -1.9 5.6_ 4.5_ C(173)
PAY_ 255.75_ 1955___ 248.5_ 4858__ -2.8_ 0.0_ -1.2 -0.4 M(173)
ACE_ 258.25_ 1935___ 250.0_ 4838__ -3.2_ 0.4_ -0.8 -2.2 G(151)
PCI_ 10.625_ 47000__ 10.25_ 4818__ -3.5_ 4.2_ -8.0 -10.9 T(151)
BPG_ 667.625 1500___ 623___ 9345__ -6.7_ -6.5 2.3_ -1.3 DP(151)
AUG_ 256.25_ 3900___ 237.5_ 9263__ -7.3_ -3.7 1.7_ 0.0_ DE(173)
WNN_ 268.5__ 1790___ 247.5_ 4430__ -7.8_ -8.0 -10.8 0.0_ C
ITR_ 7.81___ 110000_ 7.0___ 7700__ -10.4 0.0_ 1.9_ 1.8_ HH
IDOX 11.75__ 42500__ 10.5__ 4463__ -10.6 -2.4 -2.4 5.0_ V(173)
THUS 15.19__ 32900__ 13.25_ 4359__ -12.8 5.3_ -5.0 -7.0 O(151)
EPD_ 51_____ 9805___ 44____ 4314__ -13.7 -3.1 -10.6 4.8_ I(173)
SLV_ 11.625_ 40450__ 9.75__ 3944__ -16.1 -2.5 0.0_ 0.0_ D
FTO_ 8.69___ 57500__ 7.0___ 4025__ -19.4 7.1_ -5.0 -1.8 Y(173)
PDX_ 231____ 2165___ 186___ 4027__ -19.5 1.7_ -6.5 -3.9 A(177)
MDW_ 9.09___ 247500_ 7.25__ 17944_ -20.2 -3.1 -3.2 -3.3 JSVV(137)
SPS_ 50.5___ 39600__ 39.5__ 15642_ -21.8 -5.0 -6.4 -1.3 AIKK(173)
NML_ 5.31___ 85750__ 4.125_ 3537__ -22.3 41.4 -12.2 -8.3 W
GMC_ 19.125_ 52700__ 14.75_ 7773__ -22.9 -1.6 -10.0 9.3_ TW
BNH_ 125.25_ 15970__ 91.5__ 14613_ -26.9 -2.2 -7.7 -10.7 AIRR(173)
TAD_ 9.375__ 53300__ 6.625_ 3531__ -29.3 -1.8 -4.4 0.8_ Y(177)
PET_ 53.75__ 9300___ 37.5__ 3488__ -30.2 -7.7 -6.0 -5.1 R(177)
KYS_ 15.875_ 63000__ 10.5__ 6615__ -33.9 -10.0 -4.4 -2.3 UU(173)
PMD_ 0.875__ 571400_ 0.575_ 3286__ -34.3 -3.8_ 0.0_ -8.0 Y(173)
DES_ 62.25__ 8030___ 40____ 3212__ -35.7 -2.2_ -8.8 -3.6 H(177)
ASC_ 78.5___ 25480__ 50.0__ 12740_ -36.3 -5.7_ 2.0_ -1.0 ZZZZ(177)
BPRG 67.25__ 14870__ 41.5__ 6171__ -38.3 -7.8_ -35.4 21.2 TT(137)
XEN_ 7.44___ 67200__ 4.325_ 2906__ -41.9 -15.4 11.5_ -6.0 V(173)
totals___________________ 498456.2 13.3_ 2.3__ -2.7_ 3.0
small-cap___ 2891.87______ 2888.5_ -0.1_ 0.6__ -0.7_ -0.8

SEO continues to set the pace and has effectively lapped the "pursuers". AGM today gave a clearer picture of the company strategy. Trials with an ASDA supplier have been going well with other products than meat already in the shops wrapped with Greenseal. The company is making a major push in the USA with Walmart the obvious target. A big attraction is that the cost base is being kept down by contracts with engineers outside the UK to handle supply and retrofitting. There seems to be little reason why SEO should not continue the 4p per month sp progression.

Comments on other major movers of the week:

BPRG - recovering from battering the previous week caused by a profit warning. The major capsule product should hit the market early next year and the fall has probably been overdone, even at the current level (johngtudor?)

BGC - Positive reports on the Varisolve drug. Cap. now some 200m which, to an outsider, looks amazingly high for a company with key product not yet into Phase II clinical trials (cf. value of Alizyme which is far further fown the road) (kivver?)

DGM - Cap. of 85m on 14m turnover looks demanding (bos, leslie, moneyplus, seb comments?)

CEY - At last, an agreement to restart drilling for gold in Egypt. Does cap. of 60m already have much of prospects provided for? (martin?)

TND - not surprised to see legend in the frame at last with good results from Tandem on lower turnover. p/e under 5, so if trading continues to improve could be positive action to come (legend?).

No bad fallers in the week so a good performance against the market. GMC has moved ahead just under 10% and is worth a mention as it has the LONG backing of Evil - what a partnership for johngtudor and myself; seriously, the strong internet trading position apparently gives the share excellent prospects and cap. is not demanding at 25m. Evolution have moved from ADD to BUY NLR with a price target of 725p: probably one of the safest plays in the market despite Evil continuing to short. I am back into ASC on the basis of excellent traffic volumes and anticipation that they will shortly report trading to correspond.(Other news, anyone?)

B 122.0 E 9.6 A -14.5
S 109.4 K 6.8 H -17.2
U 55.9_ J 4.4 R -19.9
W 55.5_ L 4.3 V -23.3
M 31.0_ D 3.1 T -29.1
O 14.8_ G 2.3 Z -36.3
P 12.6_ Y -9.2
C 10.1_ I -9.4

bos and seb have stretched their lead - same share holding except that bos holds AGL against seb's MDW; wouldn't like to forecast the winner between those two. bos is very positive aboput the prospects for AGL and I can see why; however, MDW is probably only held back by the inertia of the NHS ( a big only I confess!).

Frustrated that markus has got a fraction of a nose ahead of yours truly. However, my nose is sensing good things from each of CFP (promising results), NML (diamond production started) and GMC (see above). moneyplus continues to defy the anti-SEO gravity. A move from a dark horse making up ground - the aforesaid legend with a winning record!

Have you seen the new MoneyAM competition: you tend to get frustrated with disappearing trades. I find that I bought 300,000 CFP instead of 3,000,000 - blast it! No doubt, bos will buy 100% SEO - no limit!

Eric

oohhhhhhhhhhhhhhh i wish this was the moneyam comp. i would be quids in by now!!!! still top of the league!!! got a feeling seb will come up on the rails and take the lead on the final bend. yes i have gone in big for seo in the moneyam comp ( who wouldn't!!!)but i have also gone for agl, dgm , dil's rgu, and sharesures gfm. and i've gone short on barclays cos i can't stand them!!

Well done bos: have only gone 30% in SEO on the MoneyAM comp. Others are NLR, BGT, GMC, ASC, CFD, NML; all in our ASOS challenge game. I think I would proably back AGL against MDW. MDW have the same problems as toher medical service companies like MLS and BQE, the turgidness of NHS acceptance of new initiatives and placing orders. Interesting that SEO have defined themselves as an intellectual copyright company: that could be the name of the game for the future. Looks like we are the only guys left on this board! Funnily enough, its worth doing the weekly analyis for its own sake as I learn so much through doing it. Even legend's Tandem, for instance, which just could be worth watching, though perhaps this comp. is too early for it.

Eric

Eric-I am still backing DGM. agree the mkt cap is high but like NLR it's the future growth prospects driving the sp of course any bad news will give it a knock down but as reported in todays Times - WPP reports tremendous growth in online advertising up something like 30% so I would expect DGM to get it's fair share. WPP quote the enormous revenues at Google as their proof of high prospects. DGM has bounced back because of this but will probably dip again and like YOO I hope to accumulate over the next few months then look for a good move up in the autumn. all IMHO of course!

Thanks, moneyplus; great to hear from you and know that there are at elast two readers of this bb other than me! Will add DGM to the watchlist - suspect that, if its not expensive, then it is cheap! (if you see what I mean!) Do you se DGM increasing their share of the on-line advertising market?

Eric

Just discovered that CFP closed at 0.415p, not 0.41p, so it is now a dead-heat for third place between Markus and yours truly. Crumbs of comfort from under the rich man's (bos and seb) table!