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!!

cynic
i looked at the chart just this morning and thought it looked toppy but as it is approaching potential support im not going to short just yet.
if i were already short however i too would be holding as i do like being already short approaching support and vice versa.
if it gives way im ok if not then i have room to manouvre to cover a bounce or a continuation of trend.
nice position to be in.
best regards
jkd

psychologically and nonsensically, it is difficult to make oneself short even if all logic dictates that one should .... and also short of both FTSE and Dow and intend to stay that way ..... given Ike, oiles will probably get (relatively) overbought, so another area to investigate

for ease of ref, see chart below ..... note how 50 dma has lent consistent support though, as i am short, that does not mean either that i shall now take my profit nor that i am suggesting to buy!

I think Dr. Elder would be closing the short now judging from his latest book, a bit of a channal surfer rather than break out bruiser. But in this market the floors are paper thin

confess i am slightly undecided so shall watch during the day ..... not sure what forward p/e is now showing, but certainly at around 400 it was at 50, which was ludicrous

ASC still doing the same old trick i.e. when it falls it ALWAYS seems to bounce back up and ALWAYS from a higher level than its previous low- like it!! Agree with cynic that PE is skyhigh so a say 15% trailing stop won't harm

took my modest profit a day or two ago

certainly looks like a good bounce on the 50dma at the moment. Next update prob not too far away at the AGM.

Amazing in today's troubled times that this still relentlessly plods it's way upwards.
AGM 1st Oct in London.

Astounding company.....but I can't help feeling that the sp will go over a cliff one of these days....if we enter a recession proper !.....and sales start to drop !.

it's a joke that at this time, a retailer is proving to be a safe haven!

Evil Knievil is ready to short this.....(well that's what he said a few months ago anyway).

Him & hlyeo both! But I agree, sp will tank come the revolution!

i couldn't disagree with EK .... except sp continues to defy gravity with great confidence

One to keep both eyes on that's for sure !.

from todays share mag
Shares Magazine:

ASOS: 388p: BUY

Market Cap: 282.9m.
1 month sp increase: 13.6%.
6 month sp increase: 48.1%.
Prospective PE March 2010: 23.2.

As a consumer facing stock this online clothing retailer may seem an odd choice in the current economic climate and this represents something of a 'mea culpa' given that we suggested shorting the stock earlier in the summer.
But it is up around 300% in the last year and there are reasons to believe it has further to travel, despite a PE of 23.2. According to Verdict Research, online shopping represented just 4% of total UK clothing spend last year but this figure is expected to reach 10% by 2010.

A favourable industry backdrop is augmented by ASOS's commitment to high volume and low to mid pricing range which is equipped to outperform as consumers trade down.

r.f
i would not take to much notice of ek shorting this stock, his track record is grim he has suffered over 100k worth of losses on this stock over the last few years.
he will be right one day then all you will see yah i called it right.

actually EK would find it difficult to short this stock meaningfully as apparently it is a bit illiquid

I think you could fill quite a large room with people who have tried to short this stock (me included). ASOS continues to defy gravity but a PE of 23.2 isn't all that challening in a growth sector. My own short experience would have been most successfull had the LSE not allowed a temporary suspension following the fuel storage explosion which literally 'blew the bloody doors off' (best Michael Caine voice) their warehouse. I escaped flat and have no intention of trying again. Actually my biggest regret is that I spotted ASOS trading at 7.5p some years ago and decided a 30% increase within a week due to a Shares mag tip was too much too soon! Wish I'd bought then and held for a 40 bagger, isn't hindsight a wonderful thing?

Hardy Amies, JJB, John Lewis & Debenhams all now reporting a marked drop in clothing sales. I would suspect that 2009 is going to be very difficult for these guys also. If I were still holding I would be very tempted to take most of my profit this side of Xmas. Seems a real shame for such a successful company, but beware the shorters, imo.