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!!

DJ MARKET TALK: Panmure Gordon Raises ASOS Price Target

0940 GMT [Dow Jones] Panmure Gordon raises ASOS (ASC.LN) price target to 1616p from 1223p ahead of the company's interim results on November 8 and what Panmure anticipates will be a strong Christmas trading statement. Notes UK online fashion sales growth has accelerated in September and ASOS continues to hold second place in the most recent UK online fashion market charts compiled by Experian/Hitwisel. Panmure also notes that ASOS has agreed with River Island to sell its products starting this season. Adds that U.S. hits to the website now represent almost 12% of all website hits, up from around 7% in January. Buy rating. Shares +0.6% at 1450p. (michele.maatouk@dowjones.com)

cannot convince myself to buy, but at least avoiding going short!

woodie great job
s.... i get out too early , this monster is steam full ahead.

cynic im impressed by your improvement :)

to me uptrend seems to change today...finally.., lets see wich way now.

From newspaper tips:

ASOS falls after KBC Peel Hunt downgrade.,.

will it go below 1300p ?

back to 5 i hope......;))

bb , simply i love that idea lol
monday update - good update.
can good update push that sweety to short dive before next ride ? ( i must dreaming...)

..in other words no one got any idea ... :)

anyway..nice scrap for break support... promising so far

going down nicely

today's good level , first buy done. just hope cynic not start his shorts now...

i've given up trying to make money from this poxy share in either direction ..... i am similarly blessed with WOS!

more shopping done today , mostly after these two monster-300k's

did not expect that violent rise again.., gap up and almost 1300 ....so sweet morning :))

i watch, mouth agape ..... even the on-line companies are slashing prices to shift stock .... the cold economic realities of 2011 do not seem to have registered at all

GS target price 2000p.

November 22, 2010
ACTION
Buy
ASOS plc (ASOS.L)
Return Potential: 60%
What if? Further international expansion scenario analysis
Source of opportunity
Based on our analysis of ASOS international expansion potential, a push
into the 14 tactical markets it has identified (other European countries,
Australia, BRICs, Japan & South Korea) could generate sales of c.1.5 bn
by FY2021. Furthermore, assuming ASOS achieves c.1.0%-1.1% clothing
retail market share in the US, France and Germany and c.2% market share
in the UK (jointly generating sales of c.3.3 bn), we believe group sales
could reach c.5 bn by FY2021. This upside potential is dependent on a raft
of assumptions, but reflects our view of sustainable top quartile growth
potential for ASOS as tactical markets are promoted to strategic status.
Catalyst
We expect ASOS 3Q2011 trading update in January 2011 and an update
on the fifth strategic market mid-2011, which we believe could be China or
Russia, based on current traffic data. In Increasing price targets to reflect
sustainable growth profile (October 5), we highlighted ASOS and YOOX as
well-positioned pure-plays in a fast growing industry, with scope for
further outperformance as they continue to deliver strong sales and
earnings growth (both on GS SUSTAIN Emerging Industry Leaders List).
Valuation
We raise our sales forecasts from FY2012 to reflect an increase in targeted
international expansion outside the five strategic countries in the medium
term. Our earnings decrease marginally on higher than expected
personnel, marketing and IT costs, but we estimate ASOS earnings are
growing nearly 3x faster than top European apparel retailers like H&M and
Inditex. Our 6-month DCF-based price target is now 2000p (from 1700p).
Key risks
Downside risks include delays and operational complications from
warehouse expansion plans, competition from offline retailers expanding
internet offerings and failure to execute international expansion plans.

thats a mega article woodie...