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!!

hope you guys are right I'm in at 70.0

Relax SEADOG. Financial Directors rarely risk their own money unless they are pretty confident of being able to get it back with interest. Give it a month or two, and you should be in profit!

lovely chart. There is a real old-fashioned hammer signal in formation on my live screen at the moment

I just bought

snip , could you explain whats lovely please?

the sharp rise is a good start. Only been in the markets for a short while but it seems to me to be as much about sentiment as it is about fundamentals. Too many are like sheep a few sells and everyone follows suit. Like John says give it a couple months with even more good news and it will start the upward path to the brokers price of 1. BUT never take anything for granted do your research and keep up with the news but this looks a no brainer to me. Have a look at kmr, pci, mph.

Agreed Kivver, I also have kmr and mph, have a look at nrg and amt as well.

capa

just to let you know the agm is on 15 sept.

This stock has been above the 50MA all through the uptrend. It is still above it and very recently tested the MA and bounced off it. So looks healthy

I got out at 57p. Best to live to fight another day. Long term will do well, but better off bailing out in the short term IMHO.

johngtudor
Thanks for the logic reasoning but down another 6.0 today, hope it stops going southward soon

i think there is an awful lot of profit taking going on . i think it rose too quick and needs to settle a while ubntil more news.

On the news front we have the Annual Report out soon, and then we have the AGM in early September. From a Technical perspective the shares are now looking very oversold - take a look at the RSI reading - so a bounce soon is on the cards. Everyone should be encouraged that even in this market sell off, and with big bears prowling around everywhere, the shares have closed on the 50 day moving average, which takes some doing for a small cap share in this market. A well known chartist today came out with an 80p target, you just have to be patient.

why is this share price going down when things seem quite good for the company?????????

huge shorts have been opened on this stock by many a bear.....short term (August, I would say) this is going to stall around this level, when volumes in general pick up I can see this going back to 60p by year end....so a 50% mark up from now...
all imo....

What followers of this stock have seen over the last few days is one or more of the good market makers taking out short positions in the stock as mentioned by Recruiterrr, which can in itself be a little scary for the small investor. It often happens in stocks that have risen sharply over a short period of time, they drop their prices to encourage trade, which gets read by many punters as a reason to sell. It then generates a wave of selling, which in turn encourages the other market makers to drop their prices as well. It's all about sensing the market mood and profiting from it in both directions! We may well see a period of consolidation at this level and then another upswing. It was encouraging (if you are a bull) to see that at the end of yesterday's heavy turnover, the buyers more or less matched the sellers! So in my opinion the shares are a buy, they remain inside a positive trend channel and if you are a buyer as I am, you need to watch this price very closely for good buying opportunities>>>>

New to the bb and found it fascinating reading, particularly the analyses (Woody etc.), feedback from ASOS site users, reasons for buying and selling. I see there are puzzled buyers at up to 70p. As I have increased holding, benefitting from advice given, thought I would give my own perspective. I hold a small number of stocks on the basis that I can get to know them well and possibly out-smart the professionals. Current holdings are Alizyme (AZM) (enjoying a re-run of a bull run from last year); Earthport (EPO) (puzzled as other Shares readers and wondering what the next issue has in store) and ASOS. Missed the early buy signals this year and bought 150,000 shares at prices between 23p and 32p. Took profits on 60K shares following results at average 45p. Surprised at subsequent run based on positive news: (a) institutions buying; (b) Seymour Pearce 1 forecast; (c) trading news for June with ASOS jumping to 2nd place in Hitwise analyses. So why has share come back to 42p level? (a) Still profit takers around; (b) MMs trying to bring buyers back in - even today, 4 to 1 ratio of buyers to sellers yet price is down; (c) professionals on holiday!

I have bought back some 40K shares at average 41.3p today. Where is price going? Perhaps not very far until nearer AGM mid-September. Probably invlude results for first quarter and picture of current trading. Current price is very low! Basis is that capitalisation is under 30M. Seymour Pearce are quoting 1 becuase they see cap. at 67M by year-end. I expect this to be hit early. With trading growth and cash generation, cap. of 100m by year-end not unreasonable, that is three times growth from current level. Buy/ accumulate. This is the 2004 hot stock. See the references to the business model. Far better sector than lastminute.com, clearly well-managed. The world is their oyster.

Stockwatch showing ASC closing unchanged at 48.5, I thought they closed last night at 43.5. Should be up 5p ? Can anyone confirm.

updata realtime
SC closed at 48 - 51 up 11.49% on the day

The recent drop is a bit over the top, but i have kept the faith and when a price of under 40p was looming i thought that would be just too cheap. So I have bought a few more and it obligingly went up 5p immediately( if only all my shares would behave how I want them too!)
Still looks good for the medium term( maybe long term)They seem to have the right formula and see great potential. If the next statement mid September is as good as we hope i think the 100p may come sooner than we thought possible!

ew thanks for comment is nice to know people read posts? willfagg agree with you price drop was to much topped up holding tues.i still think if you brought at 60-70p you will still make a nice profit over the next year unless world markets do a downturn.yesterdays interday low is now a good support which was also the price the fd brought shares at a month ago.cheers woodie