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!!

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

Just topped up as well, this looks good for the future.

Just a quick test of the 50MA then back to the uptrend

Have been away for a few days so thanks to all for all the positive comment on the bb you have persuaded me to hold and see if they do make more than the 70p (my starting point). The 21 day RSI has just gone above the 50 and my guru says thats when to buy. It seems today a lot of people are in agreement.

Dare I suggest it SEADOG, but if you believe your guru, now is surely the time to buy again and reduce your breakeven target?

300K BUY WENT THROUGH , LAST TRADE, LOOKING GOOD.

I see that CD Wow is sending out a special offer with its merchandise telling its customers about ASOS and offering a 10% discount by typing WOW into ASOS discount box.
I believe CD Wow has quite a large customer base of youngsters.

johngtudor
Suggestion taken onboard but, been there done that with Marconi and lost a bunch. I thought the golden rule was never round down ??

seadog only applies to stocks in downtrend this is not in downtrend yet.

WOODIE,
Would you call this an uptrend??

it is still in uptrend the rate of share price rise will be slower markets overrall have been in decline given the big rise in this stock since feb has held up well,as i posted before the rise will be limited until agm 15 sept.see my previous post brought more shares last week at 47p would not buy if i thought share price was going down but as always if you buy shares it is your own decesion.chhers woodie

seadog ASOS is still very much in a nice consistant uptrend. Look carefully at the angle of the MA. Be aware that retracements are extremely good in a trend

Hi SEADOG, Marconi was an entirely different case than ASOS and at the time of its troubles had an entirely different price chart...as I recall it was only heading one way...down. You need to look at the trend of ASOS over 3 months at least, as posted by SNIP, and make your own decision as suggested by WOODIE. Your own analysis was over too short a timeframe, unless you really are a bear in hiding! You can expect some consolidation around this price before another leap up. The Annual Report should be posted today and I expect it will be available in Acrobat format on their Investor Relation page in due course. The content and supporting statements from the Chairman etc may also help the price before the AGM, otherwise that news flow will be the 'kicker'. Of course the markets are suffering from some summer madness at the moment, plus we have some turbulence on the world news scene so don't expect too much overnight!

Gentlemen,
Thank you all for your words of experience, I guess that I'm trying to be a day trader instead of an investor???. My longer term charts (march onwards) do indeed confirm that ASOS is in an uptrend, albeit a shallower one than previous to mid june when acceleration took off. I thought the retracement a bit steep. From 70.5 to 40.5 almost 50%, that i think is more than a retracement. However gentlemen I will perservere and thank you for your timely advice.
johngtudor. Marconi was different , I thought that the govt would not let such an important defence supplier go bust, as they had rescued so many companies before, but they did. I am a novice on a learning curve. tks