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!!

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

SEADOG, if you are trying to be a day trader you should be running much tighter stop losses than you had on your purchase of this stock at 70p. As you are still holding the stock I assumed, clearly wrongly, that you are a position trader?

johngtudor, I am not trying to be a day trader. What is a position trader?? I thought there was only day traders and Investors. I was trying to make a profit on an ascending share taken at random from the investors room by going into ASOS but it seems i have a knack of buying at the top and selling at the bottom. I am rather fed up and can't seem to have put a foot right for the last 2 years.

Hi SEADOG, I am sorry to hear of your trading problems. To be clear a Day Trader never has an overnight position, full stop. All trades are cleared at the end of the trading day, reverting to a full cash position at the end of trading. So lets assume you are not in that category, which leaves Short, Medium and Long Term investing. Long Term investing i.e buy and hold, is now fully discounted, Marconi et al. So that leaves Short and Medium term investing, don't think of it on a time basis. Positive trading, is where you take a position in a stock and have a pre-determined strategy for achieving gains and losses before you enter the trade. Myself I work on a ratio of at least 1 to 3 e.g. I am prepared to lose 1 if the upside is at least 3, more is better. Trading in small caps has a greater degree of risk but the upside is potentially greater, hence all our interest in ASOS. So as I understand it you bought some stock in ASOS at 70p and the price went down and tested a moving average and found support....(again a 50 day m.a is a good stop loss to use). My advice to you, and I would do the same myself, is to hold your position. I believe this stock over time will go back up through the 70p and beyond, probably after the AGM in September. If you are confident in your own anaylsis, and this is a stock that is still firmly in an uptrend, I would also consider averaging down by buying more stock at this relatively 'cheap' price. Remember the Financial Director purchased some stock at 57p and this company is his life! So on that basis any price under say 60p is a good buy. If you are of a nervous disposition I suggest you also take a look at Burren Energy which is now a FTSE250 stock, is pumping Oil and using its own tankers to deliver the stuff. This is not an explore and hope company but the real thing. Short term price target 4.0 It has a great management team that knows what it is doing, and in the current environment who knows where the price of Oil will go. By the way a recent Analyst report put a price of 425p on the company. Hope this helps, and stay with the investment game because your experience will continue to grow. It is not easy to get your timings of buys and sells right we all have that problem, but choose your companies and study it's price chart. You will then see a good buy/sell price for the stock, once you have identified your targets stick to them. It's all about when to pull the trigger! Good luck.

I seem to have the same buying luck as you do Seadog--don't worry if the growth is there the price bounces back, as this one is doing quite quickly. I would like to buy this and have tried a couple of times but each time Hoodless Brennan tells me to phone an order to purchase this stock. This puts me off, can anyone tell me why you cannot purchase online?