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!!

0655 GMT [Dow Jones] Goldman Sachs raises ASOS (ASC.LN) target to 3500p from 2900p, following the company's FY '11 results. Goldman raises its FY '11-'15 revenue compound annual growth rate for ASOS to 48% from 41% to incorporate the extension of the global free delivery offer and potential from China. Says ASOS is a well-positioned pure-play within a fast growing industry and as it continues to deliver strong sales and earnings growth, there is scope for further share price outperformance. Reiterates conviction buy. Shares closed Tuesday at 2317p

London: British on-line fashion firm Asos said entering China was a question of "when not if" as it posted a 41 per cent rise in year profit and said it was on track to make 1 billion (Dh5.87 billion) of sales by 2015.

Chief executive Nick Robertson said China had been identified as Asos's fifth strategic market after Britain, the US, France and Germany.

"It [China] will be entered, it's not if but when,' he told Reuters. "It will be a partnership because we can't do it independently.

"It's part of a strategic play, you've got to think where it would be in 10 years,"

Robertson would not commit to entering China with a local language website in 2011 but promised an update when the firm reports interim results in October.

He said the partner would "more than likely" be Chinese.

Asos, which targets Internet-savvy 16- to 34-year old women looking to emulate the designer looks of celebrities such as Kate Moss, Sienna Miller and Alexa Chung, but at a fraction of the price, posted an underlying pre-tax profit of 28.6 million in the year to March 31.

That compared with analysts' average forecast of 27.2 million, according to Thomson Reuters I/B/E/S data, and 20.3 million made in 2009-10.

Outlook positive

"We remain positive about the outlook for 2012 and remain on track to deliver our ambitious plan of 1 billion of sales by 2015," said Robertson.

Shares in Asos have more than trebled over the last year, fuelled by buoyant trading and speculation it could attract a bid from firms as diverse as 20.3 per cent Danish shareholder and supplier Bestseller, US Internet retailer Amazon and UK retailers Marks & Spencer and Tesco.

"Asos is priced for perfection, even though it is hard to see what could go wrong. Even after recent upgrades, the forward P/E (price/earnings ratio) of almost 65 times looks well up with events," said Arden Partners analyst Nick Bubb.

Asos' revenue increased 52 per cent to 339.7 million in the 2010-11 year, with UK retail sales up 25 per cent and international sales up 142 per cent, benefiting from the launch of US, French and German websites.

Websites for Spain, Italy and Australia will be launched in 2011. While many UK retailers have struggled against tough macro headwinds, Asos has prospered, benefiting from a young core customer base and the migration of spending from the high street to the internet.

woodie this is another great news from big ones , well.. not great for some.. someone dying .. in silence..
cynic thats about 300 points in other direction, reckon wipeout any profits made on asc so far.., any update on your wiew now, by so outspoken wisdom..?!? :)
before you click dont worry youll' be fine

or not fine ... since pierce thru 2400..

cynic or Edward ll or Richard 3rd... double short..its nearly 400 points.. are you asking yourself now : is this the moment am dying ?? but am not knowing yet...??

ambulnce? :)

cementary reservation? :)

i told you you'll run for your money baby...:)

little knowledge is dangerous...:)

hey Eddie ll .. you've been so wisdom on DES too...?

Wayne's world?

lol.. more like Pearl Harbour...

i took a modest profit trading DES yesterday so no complaints .... for that matter, even my running loss here is not too grim as did not stick my neck out far

price development unusual as usual..(!) bulls taking shorters as a prisoners higher and higher waiting for all brakes loose... just 74 points left .. mental game...

pretty violent open 50 pts lower.. just shorted 2359

could be tristar..shorted more 2377

2450's..quiet interesting.. shouldn't be at these hights that early..

hopefully this is another short setup

Right to the limit today.. almost perfect close..now we need about 24-dead friday.. cynic hang on.. if you still alive..

spot on , 24-dead close .. still on the edge but next week looks quiet promising now