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!!

From today's 'Shares Magazine':

"ASOS is unique among sizeable quoted companies as it is a pure internet company. Sales have grown dramatically from 13.5m in 2004-05 to 165m last year. Last month's results did raise concerns among some analysts, as sales in the first 13 weeks of this year saw the growth rate slow to 'only' 52%. This partly reflected an industry-wide blip in May which was compounded in ASOS' case by the introduction of new warehouse management systems. With the glitches ironed out the company will be able to offer very attractive delivery options.

By adopting a more cautious approach to the prospects for this year, ASOS is unlikely to have to engage in significant discounting. Sterling's weakness has provided it with an opportunity to develop an international business. Overseas sales grew to 32m last year and, 'Shares' understands, doubled again in the first quarter of the new fiscal year. Although, the rating is demanding - on a prospective PE of 19.4 this year falling to 16.3 times next - the group should continue to grow speedily and remains a unique opportunity to invest in the internet revolution."

For what it's worth, as he (EK) does get it wrong sometimes:
"I have always thought that As Seen On Screen, ASOS (ASC), would face competition from conventional UK retailers improving their online offering - and then use their very powerful buying departments to offer real competititon. However, Dermot Desmond (along with Len Blavatnik), has come up with www.theNOD.com. It is based on products which get, you guessed it, the nod. The Hibernian/Russki alliance is in early days. But they have the money and, if they get even half a bite, a lot more money will go straight in. This bodes ill for ASOS of which I am short."

EK is right, NOT wrong... ASC is slipping down.

Tomasz

Apologies for not responding to your question earlier.

I was trying to draw some lines on an ADVFN chart yesterday, but cos I'm not a paying customer the chart kept timing out. A bit late in the day considering today's fall, but my feeling was that the original trendline support having been breached would act as resistance to any recovery, which is exactly what happened. Therefore, my inclination was further SP weakness. In fact I'm wondering if the SP will form a head and shoulders, the left shoulder is formed as is the head. If so, expect a fall to 290-300p followed by a rally to 340p and then another fall to 240p.

ptholden,
very generous input :)

..and if you right , at 240p , we'll get famous for 50 pence :)

Cynic must have tickled my fancy..... coming up again!!!:))

i have none .... sold out at 349 .... am sure i lost money!

Not like you cynic, are you loosing the plot??

didn't have to mortgage that!

cynic, someone big said long time ago: there are two rules : the rule#1 - don't loose money and rule#2 - remember rule#1. So don't get created. Just follow the rules. Not crowd.

stop misquoting me .... i know exactly what i wrote - lol!

if you still in Dubai , find a near desert and go for 30 days , no food no water , ...then comeback to investing..:))

wouldn't willingly go to M/E at this time of year ...... far too hot ..... shall be back there for a week in November

karen jones on board future is looking better and better

SP seems to like it, hold tight for the next update.

just wonder if karen got something to do with that directors selling..especially kammaludin..so far he's getting things right , isn't he

bought bit more , 327 , nice cheap , too tempting...:)

mary has taken tiscali to the third largest broadband provider in uk. these're big guns we've got in here, balerboy. must be something really big in the horizont...

http://www.retail-week.com/city/fashion-driven-online-lift-enhances-asos-forecasts/5005725.article